Hourly wage (accounting for overtime)
I would like to calculate hourly wages across all waves and am now wondering whether to use fimnlabgrs_dv or paygu_dv as monthly wages as I do not quite understand the difference between the two.
Can you confirm that hourly wage (including overtime and self-employed) would be:
wage_hrly = paygu_dv/(jbhrs + jbot)*4.33 if paygu_dv>=0 & paygu_dv<. & jbhrs>0 & jbhrs<.
or alternatively fimnlabgrs_dv?
Thanks and best!