Enter your monthly salary and the total number of days worked in the month to calculate your daily rate.

Daily Rate Salary Formula

The following formula is used to calculate a daily salary rate.

DR = MS / DW

  • Where DR is your daily rate ($)
  • MS is your monthly salary ($0
  • DW is your days worked

Definition

What is a daily rate salary?

A daily rate salary describes the total monetary earnings a person would theoretically bring home on a daily basis if they were paid that often.

The daily rate is based on the monthly salary and the number of days worked for the month on average. This method of calculating a daily rate salary accounts for days off and provides a better understanding of how much you are getting paid each day.

Example Problem

How to calculate a daily rate salary?

The following example is the step-by-step process for calculating a daily rate salary.

First, determine your monthly salary. This is your average monthly take-home pay. It can be before or after taxes depending on if you want your daily rate to be per or post tax. For this example, the monthly salary is $5,000.00.

Next, determine how many days on average you work per month. The person in this example averages 20 days of work per month.

Finally, calculate your daily salary rate using the formula above:

DR = MS / DW

DR = 5000 / 20

DR = $250.00 per day