Curious about how much your next paycheck will be, including overtime? The MarketBeat Time and a Half Calculator eliminates the guesswork. Input your regular hourly rate and the total hours worked for the week. The calculator will differentiate between your regular hours (up to 40) and overtime hours (above 40) to break down your weekly earnings.
The complete formula for time and a half pay includes using a min and max functions in order to find the number of hours that will be paid with standard pay and the number of hours that will be paid at 1.5x the standard pay rate. Here is the entire formula:
Total Pay = (min(Hours Worked, 40) × Standard Hourly Rate) + (max(Hours Worked − 40, 0) × 1.5 × Standard Hourly Rate)
Understanding your rights as an hourly worker is just as important as tracking your earnings. The Fair Labor Standards Act (FLSA) mandates overtime pay for eligible employees who work more than 40 hours per week in the United States. The Time and a Half Calculator not only simplifies calculating your overtime pay but also serves as a reminder of the importance of accurate timekeeping and compensation. By providing a clear breakdown of your regular and overtime earnings, this tool empowers you to ensure you're being paid fairly for every hour you work.