SOLUTION: I got a raise and im tryin to figure out how much i will make on each check i get paid twice a month. Im gonna start making 18,750 a year and im on salery! i was making $8 an hour!
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Question 549325: I got a raise and im tryin to figure out how much i will make on each check i get paid twice a month. Im gonna start making 18,750 a year and im on salery! i was making $8 an hour! Answer by TutorDelphia(193) (Show Source):
You can put this solution on YOUR website! I'm going to assume this is a real world problem so congrats on the raise!
There are 12 months in a year so you'll be getting 24 pay checks a year.
Dividing your total salary by 24 and we get $781.25 per paycheck.
Assuming a 15% tax bracket and some other deductions which we'll say will add up to 5% lets say your take home pay will be 80% of that so you'll get around $625 per paycheck.
And while you probably know what you had been making, lets do some quick math and compare it.
Lets assume you work 40 hours a week for two weeks so that's 80 hours.
That would be 640 with a take home pay of 512 assuming taxes didn't change.
So you should be getting around 100 more per paycheck and if you got any benefits the differences can be much larger than that.
