How To Calculate Average Monthly Income

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How To Calculate Average Monthly Income
How To Calculate Average Monthly Income
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Sometimes it is simply necessary to calculate the average monthly income of an employee, for example, to calculate compensation, any benefits, and obtain a loan. Please note that in the event that you calculate this indicator for obtaining a loan, subsidies or other similar payments, you only need to sum up those incomes that you can document.

How to calculate average monthly income
How to calculate average monthly income

Instructions

Step 1

First, it should be clarified that the average monthly income and the average salary are two different indicators. If in the first case all the income received at your address is summed up, then in the second - only those that relate to wages.

Step 2

The first thing you need to do is determine the period for which you need to calculate the average monthly income. For example, twelve months in advance (calendar year).

Step 3

Then add up all your earnings for the selected period of time. Here summarize wages, payments under the property lease agreement, any fees, in general, all the money received at your address. For example, Ivanov's receipts in 2010:

January:

- salary - 10,000 rubles;

- payment under a lease agreement - 5000 rubles.

February:

- salary - 10,000 rubles;

- premium - 1500 rubles.

March:

- payment from an insurance company - 2000 rubles;

- salary - 10,000 rubles;

- proceeds from the sale of own property - 8,000 rubles.

April:

- salary - 10,000 rubles.

May:

- salary - 10,000 rubles.

June:

- Subsidies for renting an apartment - 500 rubles;

- vacation pay - 12,000 rubles.

July:

- salary - 10,000 rubles;

- subsidies for receiving medicines - 1200 rubles.

August:

- salary - 10,000 rubles.

September:

- salary - 10,000 rubles.

October:

- compensation for unused vacation - 4200 rubles.

November:

- payment under the lease agreement - 2000 rubles.

December:

- payment under a lease agreement - 2000 rubles.

Thus, the sum of all receipts for the year is 118,400 rubles.

Step 4

Then divide the resulting number by the number of months in the billing period. In the above case, it will look like this: 118,400 rubles / 12 months = 9866, 67 rubles (the sum of the average monthly income for 2010).

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