Hourly to Salary Calculator
This calculator helps convert hourly wage rates to equivalent annual salaries. It's essential for job seekers comparing contract and permanent positions, employers determining equivalent salaries, and workers budgeting their annual income. By inputting hourly rates and weekly hours, users can instantly see their potential yearly earnings before taxes.
Install Calculator
Calculation Formula
Annual Salary = Hourly Rate × Hours per Week × 52 weeks. This assumes full-time work with 40 hours/week and no unpaid vacation. For example: $25/hour × 40 hours × 52 weeks = $52,000 annual salary. The calculation doesn't account for overtime, bonuses, or deductions.
How to Use
1. Enter your hourly wage in the first field. 2. Input your weekly working hours (default 40). 3. Click Calculate. The tool instantly shows your annual salary equivalent. Use Clear to reset fields. The calculator assumes year-round employment without unpaid leave. Adjust weekly hours for part-time calculations. Multiply monthly by 12 for monthly salary conversions.
FAQs
1. How accurate is the hourly to salary calculator?
The calculator provides base estimates assuming 52 working weeks per year without unpaid leave. Actual salaries may vary based on overtime, bonuses, time off, and deductions. For precise figures, consult a financial advisor or payroll specialist.
2. Can I use this for part-time salary calculations?
Yes, adjust the weekly hours field to match your actual part-time schedule. The calculator will automatically compute the prorated annual salary based on your specific weekly working hours.
3. Does this include overtime pay?
No, this calculator only considers regular hours. Overtime pay at 1.5x or 2x rates needs separate calculation. Contact HR for precise overtime-inclusive earnings estimates.
4. How to calculate monthly salary from hourly wage?
Multiply hourly rate by weekly hours by 4.33 (average weeks/month). Example: $20/hour × 40 hours × 4.33 = $3,464 monthly. The annual method is more accurate for yearly budgeting.
5. What's the difference between hourly and salaried positions?
Hourly workers earn per hour worked with overtime eligibility. Salaried employees receive fixed annual pay regardless of hours, typically exempt from overtime. Benefits and job security often differ between these employment types.
6. How does unpaid vacation affect salary calculations?
Reduce the 52-week multiplier by vacation weeks. For 2 weeks unpaid leave: $30/hour × 40 hours × 50 weeks = $60,000. Our calculator assumes full-year employment unless adjusted manually.
7. Are benefits included in the salary calculation?
No, this calculator only converts base wages. Health insurance, retirement contributions, and bonuses should be calculated separately. Total compensation packages often exceed base salary amounts.
8. How to compare contract vs permanent positions?
Convert contract hourly rates to annual salary equivalents, then add 25-30% for benefits typically provided in permanent roles. Consider job security and career progression in comparisons.
9. Can freelancers use this calculator?
Freelancers should adjust for variable hours and non-billable time. Multiply your target hourly rate by actual billable hours per week (not total working hours) for accurate income projections.
10. How to adjust for different tax brackets?
This calculator shows gross salary before taxes. Use IRS tax brackets or online tax calculators to estimate net income. Higher salaries may have higher tax percentages deducted.