Most people who sustain work-related injuries in Oklahoma are entitled to workers’ compensation benefits. But the amount of benefits that are awarded will vary depending on a number of factors, including your average weekly wage. How is your average weekly wage calculated? If you regularly earn overtime pay, will this increase your average weekly wage? Here’s what you need to know:
How to Calculate Your Average Weekly Wages
Your average weekly wage is equal to your gross earnings divided by the number of weeks you were employed by your employer.
For example, let’s say you were employed by your employer for 20 weeks prior to suffering a work-related injury. During this time, you earned $10,000. This means your average weekly wage would be $500.
If you worked for your employer for over a year, simply divide your annual gross earnings by 52 weeks to calculate your average weekly wage.
How Overtime Pay Affects Your Average Weekly Wages
If you have earned overtime pay, this could increase your average weekly wage, which will increase the amount of benefits you are awarded. To calculate your average weekly overtime wages, divide your total overtime earnings by the number of weeks you were employed by your employer.
For example, if you earned $1000 in overtime over the course of your 20-week employment, your average weekly overtime wages would be $50. If you worked for your employer for over a year, divide your annual overtime earnings by 52 weeks to calculate your average weekly overtime wages. This will be added to your regular earnings to determine your average weekly wage.
How Your Average Weekly Wage is Used to Calculate Benefits
Your average weekly wage is used to calculate temporary total disability, temporary partial disability, permanent partial disability, and permanent total disability benefits.
For instance, let’s say you are awarded temporary total disability benefits after a work-related injury. By law, you are entitled to compensation that is equal to 70% of your average weekly wage, not to exceed 70% of the state’s average weekly wage. As you can see, your average weekly wages will have a direct impact on the amount of benefits you are awarded. This is why it’s so important to accurately calculate your average wages after a work-related injury.
Have you sustained a work-related injury? If so, seek legal representation from the experienced attorneys at Armstrong & Vaught, P.L.C. at once. We are committed to helping injured workers obtain the workers’ compensation benefits they are entitled to by law. Call us now at 918-582-2500, toll free at (800) 722-8880, or contact us online for a free consultation with a skilled attorney.