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QUESTION: Is the salary/wage data normalized to a 2080-hour year?

 

We normalize based on the standard work week of the area selected.  In the US and other locations that use a standard 40-hour work week, we use 2080 (40 hours per week times 52 weeks per year) to convert the hourly rate to the annual rate.  In other locations that use a different number of standard hours per week, like France. the hourly rate is annualized based on the standard work week used in that location, so France is based on a standard 35-hour work week.

 

In addition, some locations require (an) additional month(s) be paid as part of annual compensation.  This increases the weeks and months per year for annualizing purposes.  In the US and other locations that use a standard 12-month year, ERI multiplies the weekly rate by 52 to convert the weekly rate to an annual rate and multiplies a monthly rate by 12 months to convert monthly rates to annual rates.  In locations with additional months per year, adjustments to the conversions are made accordingly.