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What is your time worth?

What is your time worth

Many people who would be horrified at the idea of wasting either personal or company assets, think nothing of using a significant amount of their valuable time to accomplish tasks worth only a fraction of that amount.

When you have determined the value of an hour of your time, you can make better judgements about how to use each one for maximum productivity and profit.

The chart below is a simple way of determining what your time is worth based on your annual salary.

If your annual earnings are ($): Every hour is worth ($): Each minute is worth ($):
25,000 12.81 0.21
30,000 15.00 0.26
35,000 18.00 0.30
40,000 20.00 0.34
50,000 26.00 0.43
60,000 31.00 0.51
75,000 38.00 0.64
100,000 51.00 0.85
125,000 64.00 1.07

 

Based on 244 eight hour working days per year (5 day week, less holidays)

How many of the tasks you accomplish each day are actually worth the cost of your time?