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Wage Calculation Worksheet

This document is a wage calculation worksheet used to determine an applicant's eligibility by calculating their annual income based on either their hourly wage or year-to-date wage, whichever is higher. It includes fields to calculate weekly and annual wages based on hourly rate, overtime, shifts, bonuses, and wage increases. It also allows calculating an annual salary based on the year-to-date amount provided on the employment verification and accounting for any applicable commissions, bonuses, or pay increases. The higher of the hourly or annual calculation is then used to determine the applicant's eligibility.

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Keri-ann Millar
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201 views1 page

Wage Calculation Worksheet

This document is a wage calculation worksheet used to determine an applicant's eligibility by calculating their annual income based on either their hourly wage or year-to-date wage, whichever is higher. It includes fields to calculate weekly and annual wages based on hourly rate, overtime, shifts, bonuses, and wage increases. It also allows calculating an annual salary based on the year-to-date amount provided on the employment verification and accounting for any applicable commissions, bonuses, or pay increases. The higher of the hourly or annual calculation is then used to determine the applicant's eligibility.

Uploaded by

Keri-ann Millar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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WAGE CALCULATION WORKSHEET 3/12

If the employment verification states both an hourly wage and a year-to-date wage; use this worksheet to calculate the higher of
the two. Use the highest calculation of income to determine the applicant’s eligibility.
Property Name: Unit #:

Applicant Name: Employer:

HOURLY WAGE CALCULATION


Rate of Pay Hours Worked Weekly Wage Weeks Worked Annual Wage

Wage $ ________ x ________ = ________ x ________ = $ __________

Shift Differential Rate $ ________ x ________ = ________ x ________ = $ __________

Overtime Rate $ ________ x ________ = ________ x ________ = $ __________

Wage Increase¹ (regular hours) $ ________ x ________ = ________ x ________ = $ __________

Wage Increase¹ (overtime hours) $ ________ x ________ = ________ x ________ = $ __________


Rate of Pay Frequency

Commissions/Bonuses/Tips/Other $ ________ x ________ = $ __________

Total Hourly Annual Wages $ __________


Wage Increase Calculation Area
Calculate increase only for the months within the 12 months lease period pertaining to each tenant. (1 month = 4.33 weeks)

Starting Date of Increase _______________ = _____ Months x 4.33 = ________ Weeks Worked.

¹ Calculate Wage Increase using Rate of Increase only.________ % (increase) x $ __________ (hourly wage) = _________ Rate of Pay
________ % (increase) x $ __________ (overtime wage) = _________ Rate of Pay

YEAR-TO-DAY WAGE CALCULATION


Salary on Total Employment
Verification Days³ Daily Rates Days Annual Salary

Year-To-Date Salary² $ ________  ________ = ________ x 365 = $ __________


² The above YTD Salary includes or does not include commissions/bonuses/tips/other payment
listed on the corresponding employment verification.
Rate of Pay Frequency

Commissions/Bonuses/Tips/Other $ ________ x ________ = $ __________

Pay Increase (see wage increase calculation) = $ __________

Other ________________________________________________ = $ __________

Total Annualized YTD Salary $ __________


Total Employment Days Calculation Additional Calculations/Explanations
Calendar Days Worked
January (31/31) ________
February (28/59) ________
March (31/90) ________
April (30/120) ________
May (31/151) ________
June (30/181) ________
July (31/212) ________
August (31/243) ________
September (30/273) ________
October (31/304) ________
November (30/334) ________
December (31/365) ________
³ Total Employment Days ________

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