The hourly to salary calculator is designed to convert the hourly wage into annual salary, weekly pay, and monthly pay.
What is an Hourly to Salary Calculator?
An hourly to salary calculator can quickly estimate your annual, monthly, and weekly wages based on your hourly wage and the hours worked per week. This calculator is useful for:
- Comparing hourly jobs with salaried positions.
- Budgeting and financial planning.
- Loan or mortgage applications (which usually ask for annual income).
- Understanding your true earning potential.
How to Use a Calculator?
- First, input the hourly pay amount.
- Enter the total number of hours worked per week and weeks worked per year.
- Then click the 'Calculate' button to get the final results.
- The tool returns the annual, weekly, and monthly pay based on the entered hourly pay.
How to Convert Hourly to Salary?
The math behind the calculator is simple. To estimate salary, you need:
- Hourly Rate: how much you earn per hour.
- Hours per Week: how many hours you typically work in a week.
- Weeks per Year: usually 52, but adjust if you take unpaid time off.
Formula:
Annual Salary = Hourly Rate × Hours per Week × Weeks per Year
You can also break it down further:
Monthly Salary = Annual Salary ÷ 12
Weekly Salary = Annual Salary ÷ 52
Daily Salary = Weekly Salary ÷ Workdays per Week
Example:
Suppose you earn $23 per hour, work 40 hours per week, and work 52 weeks per year.
- Annual Salary = $23 × 40 × 52 = $47,840
- Monthly Salary = $47,840 ÷ 12 = $3,986.67
- Weekly Salary = $47,840 ÷ 52 = $920
- Daily Salary (5 workdays/week) = $920 ÷ 5 = $184
So, a $23/hour wage equals about $47,840 per year before taxes.