Calculating Lost Wages

If you have suffered an injury due to someone else’s negligent act or omission, you may miss work while you recover. Your time away from work can vary based on the injury you incurred and could last anywhere from a few days to several months. For some, the extent of their injury means they can never return to their line of work again. 

Of course, if you aren’t able to work, that also means you aren’t able to bring home an income. You could be losing part or all of your salary for the foreseeable future. 

For this reason, when you’re injured in an accident it is imperative you contact an attorney in Hamilton, Ohio. The Richards Firm can help you build a strong case and help you recover lost wages and well as any other damages.

How are Lost Wages Calculated?

Lost wages include much more than just the amount on each paycheck. Your attorney will make many other considerations when calculating your lost wages compensation. These considerations should include:

  • Hourly pay. This is the easiest type of calculation involving lost wages. You simply multiply the amount you make each hour by the number of hours you work each day. 
  • Sick days. Remember that your attorney will factor in all of your lost wages. This includes not only sick days but also vacation days as well. 
  • Perks. A lot of jobs come with very attractive perks, such as the use of a company car, a smartphone, a gym membership, and other benefits. Those perks may also be included in your lost wages.

Loss of Earning Capacity

In addition to the wages you have lost as a result of your injury, it is possible you could be owed for loss of earning capacity.

You might have a severe brain injury that simply won’t allow you to perform at as high a level at your job as normal. Even a so-called “mild” brain injury can lead to years of impairment. That impairment could mean that you won’t be able to achieve promotions in the future, or you might lose other opportunities such as a move to a job with another company that would pay more.

There are a variety of factors that go into determining the value of lost earning capacity. These include the following:

  • The projected trajectory of your career.
  • Your skills, work history, and education.
  • The advancement opportunities in your line of work.
  • Any credentials and certifications you’ve earned.
  • Your past record of raises and promotions.

Working With An Attorney in Hamilton, Ohio

Every case is unique. One person’s earning capacity will be significantly different from that of another person even when two people are in the same profession. If you have been injured in an accident, The Richards Firm can help you make these calculations.

We can be reached at 513-868-2731, ext. 219 or visit us at http://richardsinjuryfirm.com.  

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