As per our contract, the hourly rate is 1/1213th of the gross annual salary.
All figures below are based on 5/1/15 contract rates.
Nurse with a master’s plus 10 years’ experience and longevity
$60,023 – gross annual salary - base plus 10 years’ experience
$2,832 – master’s education differential
$4,846 – 10 year longevity
$67,701 – total gross annual salary
67,701 ÷ 1213 = $55.81 hourly rate