Deriving hourly wage variable
I am currently writing my dissertation on the Impact of Obesity on Wages in the UK Labour Market using Waves 2 and 3.
I would like my dependent variable to be an individual's hourly wage and I was wondering if you had any additional data on hourly wages or a way to derive this variable using other variables in the dataset.
I am currently using total monthly labour income gross (x_fimnlabgrs_dv) but it would really help my analysis if I could derive an hourly wage variable or if you could recommend another pay/wage variable to use.
I was wondering whether it'd be possible to divide total monthly labour income gross (b_fimnlabgrs_dv) by 4.348(average number of weeks in a month) and job hours to create an average hourly wage variable but thought this may be a bit of an ad hoc way.
Updated by Victoria Nolan almost 7 years ago
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Unfdortunately we do not provide that conversion with our data, but there should be plenty of online resources available that provide formulae to convert wages using typical hours worked.
Best wishes, Victoria.