Finding an hourly rate can help you in many ways for a business or other purposes. There are many ways to do it but this article will provide you with two smart and quick ways to calculate the hourly rate in Excel with sharp steps and vivid illustrations.

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**2 Ways to Calculate Hourly Rate in Excel**

To explore the methods we’ll use the following dataset which represents the daily paid amount of the writers of a content publishing site named ‘**ExcelDemy**’.

**1. Manual Formula to Calculate Hourly Rate in Excel**

Now to calculate the hourly paid rate, we’ll use a manual formula in the first method. The formula is so simple, just divide the amount by hours. But keep in mind that, you will have to multiply the hours by 24. Because Excel stores the time as a fraction of a day. So 5:00 is defined by the system as 5/24 which is 0.21. So by multiplying that time by 24, you will get 5. Now let’s start.

- Activate
**Cell E5**. - Then
**write**the following**formula**in it-

`=D5/(C5*24)`

- Later, just
**press**the**Enter**button to get the**result**.

- After that,
**drag down**the**Fill Handle**icon to copy the formula for the other cells**E6:E11**.

Then you will get all the writers’ hourly rates.

**Read More: ****How to Calculate Total Hours Worked in a Week in Excel (Top 5 Methods)**

**2. Use QUOTIENT Function to Calculate Hourly Rate in Excel**

As we need to divide values for finding hourly rate, we can use **the QUOTIENT function** to do that. Because the **QUOTIENT **function is used to return the integer value of a division.

**Type**the following**formula**in**Cell E5**–

`=QUOTIENT(D5,(C5*24))`

**Hit**the**Enter**button to get the output.

- Now to get all the other hourly rates, drag down the
**Fill Handle**icon over the cells**E6:E11.**

Then soon after you will get all the other hourly rates as integer values.

**Read More:** **How to Calculate Hours and Minutes for Payroll Excel (7 Easy Ways)**

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**Calculate Elapsed Time Between Two Dates in Excel (5 Methods)****How to Subtract Date and Time in Excel (6 Easy Ways)****Subtract Military Time in Excel (3 Methods)****How to Calculate Turnaround Time in Excel (4 Ways)****How to Add Hours to Time in Excel (8 Quick Ways)**

**How to Calculate Payment with a Formula Using the Hourly Rate in Excel**

If the hourly rate is given then we can easily find the total payment for a specific time by multiplying the rate and time. Let’s learn that in this section. For that, I have modified the dataset by replacing the ‘**Paid’ **column with ‘**Rate’**.

- In
**Cell E5**write the following**formula**–

`=(C5*24)*D5`

**Hit**the**Enter**

- Finally, just
**drag down**the**Fill Handle**icon to finish.

Soon after you will get all the payments for the writers.

**Read More: How to Calculate Total Hours Worked in a Week in Excel (Top 5 Methods)**

**Things to Remember**

- Don’t forget to multiply the time by 24.
- The
**QUOTIENT**function will give you only the integer portion of a division. So if you want the exact values, try the first method.

**Conclusion**

I hope the procedures described above will be good enough to calculate the hourly rate in Excel. Feel free to ask any question in the comment section and please give me feedback.

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I’m computer illiterate so I want to know more on excel 2013

Hello JEMAIMAH OMAKEN, thanks for your feedback.

Visit our site to explore more articles that will work on Excel 2013. As 2013 is not so older version so you will find no major differences.