What's Your True Hourly Worth?
Calculate the real value of your time including all work-related activities.
What You'll Learn
This quiz helps you calculate your true hourly worth by factoring in unpaid overtime, commute time, and work-related expenses. You will gain a clearer understanding of what you actually earn for your time.
What's Your True Hourly Worth?
Question 1 of 10How many hours do you actually work per week (including overtime)?
💰 Ready to grow your money?
- 🔹 Raiz: Microinvest your spare change
- 🔹 Swyftx: Trade crypto with confidence
We may receive a commission from our partners if you sign up through these links. This helps us keep our tools free.
Explanation
Your salary only tells part of the story. This quiz delves deeper to reveal your real hourly wage. By accounting for all the hidden time and costs associated with your job, you can make more informed decisions about your career and work-life balance.
Expert Insights
- The Australian tax system is progressive, so your marginal tax rate can significantly impact your take-home pay. Understanding this is key to knowing your true hourly worth.
- Flexible working arrangements can increase your true hourly worth by reducing commute time and other work-related expenses.
- Time is a finite resource. By understanding your true hourly worth, you can better decide how to allocate your time between work and personal life.
Actionable Tips
- Track your time for a week to get an accurate picture of how many hours you actually work, including unpaid overtime and commute.
- Negotiate for benefits that can increase your true hourly worth, such as a flexible work schedule or a transportation allowance.
- If your true hourly worth is lower than you’d like, consider looking for a job with a shorter commute or more flexible hours, even if the salary is similar.
Example Results
Scenario 1: High Earner, Low Worth
You have a high salary, but a long commute and frequent unpaid overtime. The quiz reveals your true hourly worth is much lower than you thought. Action: Explore options to reduce your commute or set boundaries on your working hours.
Scenario 2: Maximising Value
You work from home and have minimal work-related expenses. The quiz confirms that your true hourly worth is very close to your stated wage. Action: Continue to leverage your flexible work arrangement to maintain a high true hourly worth.
Scenario 3: The Hidden Costs
You spend a lot on work clothes and lunches. The quiz shows that these hidden costs are eating into your earnings. Action: Look for ways to reduce your work-related expenses, such as bringing your lunch from home.
Glossary of Terms
Unpaid Overtime
Work done outside of contracted hours for which an employee is not paid.
Work-Life Balance
The division of one’s time and focus between working and family or leisure activities.
Marginal Tax Rate
The tax rate that you must pay on the last dollar of your income. In a progressive tax system, this rate increases as your income increases.