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

We’ll use the following dataset which represents the daily paid amount of the writers of a content publishing site. We’ll determine each writer’s effective hourly rate.

Method 1 – Manual Formula to Calculate Hourly Rate in Excel

Since Excel stores the time as a fraction of a day, you will have to multiply the hours by 24 to use the cell as a numeric value of hours.

• Select cell E5.
• Copy the following formula in it:

• Press Enter to get the result.

• Drag down the Fill Handle icon to copy the formula for the other cells E6:E11.

• You will get all the writers’ hourly rates.

Method 2 – Use QUOTIENT Function to Calculate Hourly Rate in Excel

• Type the following formula in Cell E5:

• Hit the Enter button to get the output.

• Drag down the Fill Handle icon over the cells E6:E11.

• 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. For that, we have modified the dataset by replacing the ‘Paid’ column with ‘Rate’.

• In Cell E5, input the following formula:

• Hit Enter.

• Drag down the Fill Handle icon to finish.

• You will get all the payments for the writers.

Download Practice Workbook

You can download the free Excel template from here and practice on your own.

<< Go Back to Salary | Formula List | Learn Excel