If you have been injured due to someone else’s negligence and are unable to work as a result, you may be entitled to compensation for your lost wages. Please continue reading as we explore what you should know about these matters and how a skilled Queens Personal Injury Attorneys can assist you in fighting for the justice you deserve.
Can I Recover Compensation for Lost Wages?
In the unfortunate event that you have been injured due to someone else’s negligence, it’s important to understand that you may be entitled to compensation to help alleviate the financial strain of medical bills, lost income, and mental health struggles that often result from such accidents. If you pursue a personal injury claim, you can typically seek compensation for your economic and non-economic damages.
Economic damages are designed to compensate victims for the actual monetary losses they have incurred due to their injury. These damages include medical expenses, lost wages, and property damage. Non-economic damages, on the other hand, address intangible losses such as pain, suffering, emotional distress, and loss of enjoyment of life, which are much more difficult to quantify.
You can seek compensation for the money you should have earned if you hadn’t been injured or had to miss work. This includes your normal wages, overtime, bonuses, commissions, and other forms of income. It’s important to note that it also considered benefits like health insurance premiums and retirement contributions when determining an appropriate award for lost income.
How Are They Calculated?
Generally, lost wages are calculated by determining the earnings you would have made had you not suffered injuries or been unable to work, and then subtracting any income you received during that period. If your absence was for a specific period, calculating your lost earnings is relatively straightforward. Hourly employees simply multiply their hourly wage by the number of hours missed. Salaried employees, on the other hand, will calculate lost wages by:
- The daily rate method: Divide your annual salary by the number of workdays in a year.
- Multiply by days missed: Multiply the daily rate by the number of days you missed work.
However, it’s crucial to understand that certain injuries can lead to long-term or permanent disabilities that may prevent you from returning to your previous position or significantly reduce your earning capacity. In these severe cases, calculating lost income becomes considerably more complex due to a multitude of factors. These factors include:
- Age: Your age at the time of the injury. Younger individuals usually have a longer working life ahead of them, so they typically receive higher lost income calculations.
- Education: Your level of education and qualifications can influence the types of jobs you can possess and your earning potential.
- Skills: The unique skills and expertise you possess can impact the job opportunities available and your earning capacity.
- Work experience: Your job history can impact your future job prospects and earning potential.
Given the complexities involved in calculating lost wages, it’s in your best interest to consult with an experienced attorney from The Law Offices of George Poulos, who can help you understand your rights and options. We are prepared to work with experts to accurately asses your lost wage and ensure you receive the compensation you deserve. Connect with our firm today for more information.
