This is the minimum overtime rate required by federal law for hours worked beyond 40 in a week. If How to Invoice as a Freelancer you are paid $15 per hour, you will make $22.50 per hour when being paid time and a half ($15 × 1.5) and $30 when earningdouble time. Wouldn’t life be easier if employers offered double pay for overtime and holidays? Instead, you’re more likely to find yourselfnavigating the confusing world of time and a half – that is to say, pay that’s 50% higher than your standard rate. Enter a rate of return in the following form and click the “Calculate Time to Double” button to see how long it will take to double your overtime wages if you invest them instead of spending them.
Hour Week (10 overtime hours)
If no data record is selected, or you have no entries stored for this calculator, the line will display “None”. Select Show or Hide to show or hide the popup keypad icons located next to numeric entry fields. These are generally only needed for mobile devices that don’t have decimal points in their numeric keypads.
What is holiday policy like in the US private sector?
Chances are, if the calculator is not working at all, you may be missing out on other content on the web due to an outdated or non-conforming web browser. If you have any problems using our time and a half calculator, please contact us. If all this math is making your head spin, don’t worry – you can use our time and a half calculator to doall the hard work for you.
What overtime is, how to calculate it, and how can you double it.
However, all these rules can vary between statesand between companies. But again, if you use your overtime wages to splurge on non-essentials, it is you who is limiting your compensation, not your employer. A Data Record is a set of calculator entries that are stored in your web browser’s Local Storage. If a Data Record is currently selected in the “Data” tab, this line will list the name you gave to that data record.
If you usually work a 40-hour week, but one week you do 48 hours, your pay slip may seem a bit more complicated. That’s becauseyou’ll be paid for 40 hours as standard, then you’ll get time and a half on the extra 8. Move the slider to left and right to adjust the calculator width. Note that the Help and Tools panel will be hidden when the calculator is too wide to fit both on the screen. Moving the slider to the left will bring the instructions and tools panel back into view. If it’s not filled in, please enter the title of the calculator as listed at the top of the page.
- Finally, the calculator will even estimate your total annual overtime wages based on the number of OT hours you work per pay period, and on your pay period type.
- If you spend the wages earned from one hour of work on a non-essential product or service, you have effectively limited your hour’s worth of work to its face value.
- Some companies also offer time and a half to an employee that works on holidays.
- If your multiplier option is not available in the drop down list, select Other and enter the multiplier.
- Selecting “Stick” will keep the panel in view while scrolling the calculator vertically.
- If you have any problems using our time and a half calculator, please contact us.
This is your gross overtime wages for the number of hours entered above. Things are a time and a half for 13 an hour little more complicated for employees on a salary, rather than an hourly wage. This can becalculated by dividing a week’s salary by the number of hours you usually work. If you would like to see how much overtime wages you would earn in one year based on the number of overtime hours you entered in the line above, select your payroll period from the drop down list.
Overtime hours this/per pay period (optional):
If it’s not filled in, please enter the web address of the calculator as displayed in the location field at the top of the browser window (-online-calculator-use.com/____.html). The cool thing is, once your overtime investment has doubled, you can then withdraw your original overtime wage and leave the balance to continue to increase your compensation from that one hour of work. In case you’re not familiar with the term, overtime (often referred to as “OT”) is a term typically used to describe the excess of hours worked beyond 40 hours per week.
Time and a Half Calculator
Let’s go back to the example of Steve, who earns $20 an hour, or $30 when he https://www.bookstime.com/ gets time and a half. 8 x $30 gives us $240, so we add that to Steve’s base pay of $800. Time and a half refers to a 50% increase in an employee’s regular hourly pay rate received from an employer for overtime hours worked.
- The Time and a Half Pay Calculator helps you calculate your earnings for overtime hours worked at a rate of time and a half.
- Time and a half (1.5x) for $13 an hour is $19.50 per hour.
- So if you are on a desktop, you may find the calculator to be more user-friendly and less cluttered without them.
- If all this math is making your head spin, don’t worry – you can use our time and a half calculator to doall the hard work for you.
- The cool thing is, once your overtime investment has doubled, you can then withdraw your original overtime wage and leave the balance to continue to increase your compensation from that one hour of work.
- I promise not to share your email address with anyone, and will only use it to send the monthly update.
Expand the description in this row if you need to add up overtime hours and minutes. Select Stick or Unstick to stick or unstick the help and tools panel. Selecting “Stick” will keep the panel in view while scrolling the calculator vertically. If you find that annoying, select “Unstick” to keep the panel in a stationary position. This field should already be filled in if you are using a newer web browser with javascript turned on.