As a simple baseline calculation, let's say you take 2 weeks off
each year as unpaid vacation time. Then you would be working 50
weeks of the year, and if you work a typical 40 hours a week,
you have a total of 2,000 hours of work each year. In this case,
you can quickly compute the annual salary by multiplying the
hourly wage by 2000. Your hourly pay of $12.50 is then
equivalent to an average annual income of $25,000 per year. Want
to reverse the calculation? Start with the annual salary and
answer the question: 25,000 a year is how much hourly? Now let's
consider the case where you get paid $12.50 an hour, but you
work all year with no vacation time. In the previous case, we
assumed 2 weeks of unpaid vacation, but if you worked the entire
year without any breaks, that would be 52 weeks. Assuming 40
hours a week, that equals 2,080 hours in a year. Your hourly
wage of $12.50 would end up being about $26,000 per year in
salary. If you wanted to be even more accurate, you can count
the exact number of working d