Hourly Rate Formula:
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Per Diem Hourly Rate Calculation is a method to determine the equivalent hourly rate from a daily rate (per diem). This is particularly useful for contract workers, freelancers, and temporary employees who are paid a daily rate but want to understand their equivalent hourly compensation.
The calculator uses a simple formula:
Where:
Explanation: This calculation divides the total daily compensation by the number of hours worked to determine the effective hourly rate.
Details: Understanding your equivalent hourly rate helps in comparing job offers, budgeting personal finances, and ensuring fair compensation for your work time.
Tips: Enter your per diem rate in your local currency and the number of hours you work per day. Both values must be positive numbers.
Q1: What if I work different hours each day?
A: Use an average of your daily hours for the most accurate calculation, or calculate separately for different day types.
Q2: Should I include breaks in my hours calculation?
A: Typically, you should only include paid working hours in your calculation, excluding unpaid breaks.
Q3: How does overtime affect this calculation?
A: This calculator provides a base hourly rate. For overtime calculations, you would need to factor in overtime rates separately.
Q4: Can I use this for salary conversion?
A: While similar in concept, salary conversion typically uses annual salary and annual work hours, not daily rates.
Q5: What currency should I use?
A: Use whatever currency you are paid in. The result will be in the same currency per hour.