Frequency table lists the formulas that are used to convert compensation from one frequency to another:
Calculation Description | Formula |
From hourly to annual | Compensation rate × job standard hours / frequency factor of standard work period |
From other frequencies to annual | Compensation rate × compensation rate frequency factor |
From annual to hourly | Annual compensation rate / job standard hours × frequency factor of standard work period |
From annual to other frequencies | Annual compensation rate / desired frequency factor |
The following is the formula for calculating hourly rates: Hourly rate = compensation rate × compensation frequency factor / standard hours × standard work period frequency factor |
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