What is the formula to calculate monthly pay?

To calculate monthly pay, you can use the formula:

[ \text{Monthly Pay} = \frac{\text{Annual Salary}}{12} ]

For hourly employees, the formula is:

[ \text{Monthly Pay} = \text{Hourly Wage} \times \text{Hours Worked Per Week} \times 4.33 ]

Here, 4.33 represents the average number of weeks in a month.