How Do I Compute My Monthly Rate?

Here is how you compute your Monthly Rate

Monthly Rate
= (Daily Rate x Total working days in a year) / Months in a year

Example:

Daily Rate – 500

Total Working Days in a Year – 261

Months in a Year – 12

(500 x 261) / 12

10,875

Now you know how to compute your monthly rate. If you have any further questions, please send us a message on our requests page at support@payrollhero.com – we’d be happy to help.