Experiment on this:
a. First, calculate how many hours you work in a year. Include the hours you spent in driving to and from work, the hours you spent working on some chores at home, the hours spent entertaining your depressed coworker and etc.
b. Next, compute how much money do you earn in a year including the fringe benefits you are currently receiving. Based on that amount, deduct the taxes, the cost of commuting, the cost of working clothes and other maintenance, cost of caring for a child and so on. Subtract anything you buy for your present job.
c. Last, divide the amount you actually earn by the number of hours that you really work.
How relevant is the rate?
You can use the figure for comparison on everything you do. If you are thinking of purchasing something expensive and unimportant, use the hourly rate to figure out how much of your life you are giving to your job just to get that thing. Huh! this is really a painful process
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