Finally, you can put these two numbers together to calculate your hourly rate with this formula: Amount of pay / hours worked = hourly rate of pay For example, if you worked full time at 40 hours per week and earned $1,000 each week, you can find your hourly rate using this calculation: $1,000 weekly pay / 40 hours worked per week = $25 per hour Related: How To Calculate Wages Over Different Time Periods Using an Hourly Wage

You can get a general idea of your hourly rate by averaging the number of weekly hours you work over a certain period of time, like a month or two. Divide weekly pay by hours worked. Divide your weekly salary by the number of hours you work per week—or the average hours worked per week. This should give you your hourly pay rate.

To calculate your hourly rate, divide your total income (including business expenses) by the total number of hours worked (including unpaid time). Here's what the formula would look like: Hourly Rate = (Income - Business Expenses) ÷ No. of Hours Worked

The formula for calculating hourly rates is straightforward: Hourly Rate = Total Earnings / Number of Hours Worked. This formula can be used for any type of work that is paid on an hourly basis, whether it's freelance work, hourly wages for employees, or hourly rates for contractors.