How much you actually make per year or per hour at your job is a bit more complicated than estimating working hours and multiplying by the hourly wage in your contract. Once you calculate external costs in time and expense, such as the time spent commuting and the expense of the necessary transportation, your actual compensation per hour goes down. But add the value of your benefits, matching contributions to retirement savings and equity or paid vacation, and the number goes back up. This mathematics exercise can help put your budget and spending in perspective — is it really worth three hours of your life for those three drinks at the club? It can also help you get a grip on expenses in an effort to reduce them. But the tips are also quite useful if you're evaluating two or more job offers, as well. What kinds of hidden costs have you found in your work day, and what have you done to minimize them and maximize your real earnings? Photo by Tammy Green
How to Calculate Your Real Hourly Wage [wikiHow]

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