$31,000 a year is $15.5 an hour (or $620 per week)
Annual Salary to Hourly Wage Conversion Formula
[dollars-an-hour] = [dollars-a-year] ÷ ([hours-per-week] × [work-weeks-per-year]) By default [hours-per-week] = 40 (5 days × 8 hours) and work weeks are 50 (52 weeks minus 2 weeks off each year as average unpaid vacation time)
$31,000 a year to Hourly Wage Conversion breakdown and explanation
To make a conversion from yearly salary to hourly wage you have to divide yearly salary by the number of work hours in a week multiplied by working weeks in a year. Weekly wage you get by dividing yearly salary by number of weeks in a year.
So hourly wage in this case is equal to: $31000 ÷ (40 × 50) = 31000 ÷ 2000 = $15.5 Weekly wage is: $31000 ÷ 50 = $620