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This question is about salaries.
How is vacation pay calculated?
Vacation pay is calculated in a few ways and depends on if you have a part-time or full-time job, and if you are paid hourly or are on salary.
For part-time employees who work 8-hour shifts for 40 total hours per week, your vacation pay is generally 2% of each hour's wage for each day of vacation. A day of vacation will most likely consist of your typical shift hours. For example, if you work 8-hour shifts, your vacation day is 8 hours long.
The same is typically true for full-time employees on an hourly wage.
For salaried employees, vacation pay is calculated on their hourly rate based on their salary. First, you need to determine how many hours your company considers full-time, this is generally 40+ hours per week.
Next, you need to divide your yearly salary by 52. This gives you the salary in terms of weeks. After that, take this number and divide it by 40 (or however many hours your company considers full-time) to get your hourly salary.
Once you have this number, calculate your vacation hours. Most employers consider 8 vacation hours one day.
Then multiply your hourly salary by the number of hours you had off to get the total amount you were paid while on vacation.
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