It is extremely rare that the Burden Rate = someone's hourly wage. That's why it's called Burden Rate and not "Pay Rate per Hour" or something like that. Burden rates come from your finance department and are usually one of three types
Flat Rate for Everyone
This is not too common. It's good for smaller companies. Everyone gets the same burden rate. A quick way to do this is to add a Default Burden Rate in the Projects Budgets Add-on in the Rate Management section
Banded by Resource Type
This method is good if your company has clear delineations between resource types. E.g. PMs, Developers, QA, etc. It is most often used for medium sized businesses that have the resource types but smaller numbers of people in each resource type. You apply this by matching the Burden Rate for the resource type with the user's Resource Type - Default and entering that rate in on the user's profile
Banded by Level
This is good if you have lots of variations within your resource types, which is common in larger organizations. The bands would look something like Entry Level, Senior, Advanced, etc.
See the Burden Rates documentation for more information.