Important correction before publishing: In the introduction, replace the example figure $0.000625 per second with $0.006944 per working second. The later formula and worked example use the correct figure.
Also, distinguish between two calculation methods:
- Per working second: Annual salary ÷ annual working seconds.
- Per calendar second: Annual salary ÷ total seconds in a year.
These methods produce different results because they use different time periods.