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Understanding Salary per Pay Period: A Guide to Calculating Earnings

This section focuses on determining salary per pay period, crucial for salaried employees. Salary is defined as a fixed amount of money earned regularly, which can be received weekly, biweekly, semimonthly, or monthly. The formula to calculate salary per pay period involves dividing the annual salary by the number of pay periods. Real-life examples help illustrate these calculations, including determining monthly and weekly salaries for various professions. Engaging in practice problems solidifies understanding of salary calculations.

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Understanding Salary per Pay Period: A Guide to Calculating Earnings

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Presentation Transcript

  1. SECTION 1-5 pp. 101-102 Salary

  2. Section Objective Determine: • salary per pay period

  3. Key Words to Know salary (p. 101) A fixed amount of money earned on a regular basis, received weekly, biweekly, semimonthly, or monthly.

  4. Formula Annual Salary Number of Pay Periods Salary per Pay Period =

  5. The Road to Building Castles p. 101 Does your boss expect less from you when you become a salaried employee?

  6. Example 1 Beth Huggins is a computer programmer. Her annual salary is $42,648. What is her monthly salary? What is her weekly salary?

  7. Example 1 Answer Step: Find the salary per pay period. Monthly: $42,648.00÷12 = $3,554.00 Weekly: $42,648.00 ÷ 52 = $820.15

  8. Practice 1 Michelle Giuseffi is a police officer. Her annual salary is $40,560. What is her biweekly salary?

  9. Practice 1 Answer $1,560

  10. Practice 2 Colin Evans is a hotel desk clerk who earns an annual salary of $21,216. What is his weekly salary?

  11. Practice 2 Answer $408

  12. END OF SECTION 1-5 Salary

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