Do You Know What Your Time is Worth?

 

When we value our time, other people value it.

Many years back I performed an experiment to see what the value of my time was really worth. I must have had too much time on my hands that day. When I completed the experiment, I had a "Wow" moment. Then I began to not feel so well, considering it was gross pay, not take home pay. The good news was, the result motivated me to set some personal goals to increase the value of my time, while giving myself a raise.

I created a spreadsheet to visualize different types of work weeks to identify my hourly rate. Since I was looking around for another opportunity, this was very helpful for me to ascertain how much I should ask for. With this knowledge, I could realistically set how much of a raise I needed to give myself with the next opportunity offered.

If your curious or just for your own edification, below is a partial snapshot of the spreadsheet. Keep in mind the hourly dollar amounts are gross, not net. So your hourly rate will be substantially lower, if you consider take home pay as what really counts.


Yearly
35 Hr Week
37.5 Hr Week
40 Hr Week
Salary
Pay Per Hour
Pay Per Hour
Pay Per Hour
$25,000
$14
$13
$12
$30,000
$16
$15
$14
$35,000
$19
$18
$17
$40,000
$22
$21
$19
$45,000
$25
$23
$22
$50,000
$27
$26
$24
$55,000
$30
$28
$26
$60,000
$33
$31
$29
$65,000
$36
$33
$31
$70,000
$38
$36
$34
$75,000
$41
$38
$36
$80,000
$44
$41
$38
$85,000
$47
$44
$41
$90,000
$49
$46
$43
$95,000
$52
$49
$46
$100,000
$55
$51
$48
$105,000
$58
$54
$50
$110,000
$60
$56
$53
$115,000
$63
$59
$55
$120,000
$66
$62
$58
$125,000
$69
$64
$60
$130,000
$71
$67
$63
$135,000
$74
$69
$65
$140,000
$77
$72
$67
$145,000
$80
$74
$70
$150,000
$82
$77
$72
$160,000
$88
$82
$77
$165,000
$91
$85
$79
$170,000
$93
$87
$82
$175,000
$96
$90
$84
$180,000
$99
$92
$87
$185,000
$102
$95
$89
$190,000
$104
$97
$91
$195,000
$107
$100
$94
$200,000
$110
$103
$96

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Copyright (c) 2004 - 2007 C. E. Reid, SAVVY INTRAPRENEUR