Extra Income

• Overtime Pay – amount paid for extra hours worked above your usual hours
• Double Time – twice your hourly pay
• Time and a half – 1 ½ times your hourly pay
• Bonus – Extra money paid if targets are met
• Commission – Extra money paid usually based on sales/production

Overtime Pay

If you work more hours than you are contracted for, you get overtime pay, this is sometimes paid at a higher rate than you normally receive? (you can use a calculator to help with your answer but you must show your working.)

Example 1 : Amy gets an hourly rate of £10.50  If she works 7 hours overtime at double time, how much extra does she receive?

Working : overtime rate 10.50 x 2 = £21.00

overtime pay £21.00 x 7 = £147

Example 2 : Rhys earns £8.40 per hour.  He works 15 hours overtime at time and a half.  How much extra does he receive?

Working : overtime rate £8.40 x 1.5 = £12.60

overtime pay £12.60 x 15 = £189.00

Commission/ Bonus

Commission/Bonus are usually paid as a percentage if your sales exceed expectations if your company is doing particularly well.  Remember we learned about simple percentages in the Numeracy unit? (you can use a calculator to help with your answer but you must show your working.)

Example 1 : Petra works on commission and receives 10% of all her sales.  If she sold stock worth £2500, how much commission would she get?

Working : £2500 ÷ 10 = £250

Example 2 : Steve earns £43000 per year.  Since his company met all of their targets, he gets a bonus of 20%.  How much extra does he receive?

Working : £43000 ÷ 5 = £21500