The formula to calculate the Average Weekly Wage (AWW) is:
AWW=AS50
Where:
An average weekly wage is the total amount of earnings an employee would receive on a weekly basis, on average, based on their total annual salary. The calculation typically assumes a standard 50 workweek year, accounting for vacation and holiday time.
Let's assume the following value:
Using the formula to calculate the Average Weekly Wage:
AWW=50,00050=1,000 dollars per week
The Average Weekly Wage is $1,000 per week.