Calculate the Minimum Wage per month or per annum. We adapt the Minimum wage to a monthly, yearly rate. More information about minimum wages here.
Calculate the Minimum Wage per month or per annum here. We adapt the Minimum wage to a monthly, yearly rate. The minimum wage will not only be an important figure for employees to check they are not being underpaid but also for employers to factor in their labour costs.
The calculator for minimum wages will tell you how much you earn/pay your employee monthly and yearly. The minimum wage is usually set on an hourly rate in order to make it simple for part time workers to calculate their wages. We make it even simpler with a Business Calculator designed for employers and employees alike to find out their minimum wage per month.
What is the United Kingdom’s minimum wage?
The United Kingdom sets a minimum wage based on age :
- If you are an apprentice and under-18 your minimum wage is 3.70£
- If 18 to 20 the minimum wage is 5.90£
- If 21 to 24 the minimum wage is 7.38£
- If 25 and over, the minimum wage is 7.83£
Note that the minimum wage in the United Kingdom as in many countries is adjusted to inflation every year.
The United Kingdom also has the concept of a living wage based on geographical location as the cost of living can vary. Although it is not inscribed in the law, it is expected for example that full time workers of a certain age in London are paid the living wage.
What is the United States minimum wage?
The United States has a federal minimum wage and then a state minimum wage depending on what state you are located in. The federal minimum wage is 7.25$ an hour.
The state minimum wage is most applied, with even some cities having their own minimum wage. Look up your local authority to find out the minimum wage applicable.
How do I determine the minimum wage on a monthly and yearly basis
Type the official minimum wage per hour in the minimum wage field. This is dependent on your age group and/or geographical location.
Type the amount of hours a week the employee is working in hours per week. This will depend on your schedule. As an employer, we have a schedule calculator here.
Type the amount of months wages paid for the year in months. Include a 13th bonus month if applicable.
Choose whether you want the monthly or the yearly minimum wage.
Will I still pay tax as a business on minimum wage?
It is likely that you will stay pay a withholding/retention tax. You can calculate that here.