Pay data - include or exclude overtime payment?
Please could you advise me on whether usual pay for overtime is included in the variable paygu_dv? I am trying to construct a variable that captures hourly wages, using consistent measures of usual working hours, and am interested in the distinction between basic and overtime hours (and therefore pay).
Currently I have: wage = paygu_dv / (jbhrs + jbot)
(plus I separately make an adjustment for comparing monthly pay to weekly hours)
Is this a consistent definition, or should I use a different combination depending on whether I am including or excluding overtime?