# How to Calculate Hourly Rate in Excel (2 Quick Methods)

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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.

## Calculate Hourly Rate in Excel: 2 Ways

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. ### 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. ## 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. ## 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.

## What is ExcelDemy?

ExcelDemy Learn Excel & Excel Solutions Center provides free Excel tutorials, free support , online Excel training and Excel consultancy services for Excel professionals and businesses. Feel free to contact us with your Excel problems. Md. Sourov Hossain Mithun

Hello! I am Md. Sourov Hossain Mithun. Currently, I am working at Exceldemy as an Excel and VBA Content Developer. Excel is an amazing software to learn or work. Here, I will post Excel related useful articles. I am a graduate of Bangladesh University of Engineering and Technology. I love to learn new things and work with them. Thank you.

1. Reply Jemaimah Omaken Jun 8, 2022 at 11:49 AM

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

2. Reply 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. Advanced Excel Exercises with Solutions PDF  