As you work on compensation calculations for employees, please be aware that FY 2020–21 has a total of 2088 annualized work hours.
- Salaried employees who are paid on a fiscal-year basis will see a slight increase in their bi-weekly paycheck but the total amount of annualized gross earnings for the fiscal year remains the same.
- Hourly wage employees who are nonexempt under the Fair Labor Standards Act are not affected by the change of annualized work hours because they are paid a consistent hourly rate for each hour worked.
For more information and examples visit: hr.arizona.edu/supervisors/compensation/how-hours-fiscal-year-affect-annual-pay-rates.
In addition, the 2020–2021 Calculation Survival Guide (PDF) offers frequently needed calculations you may find helpful.
Questions? Contact Workforce Systems at: firstname.lastname@example.org.