Hourly to Salary Converter
Hourly to Salary Calculator: Convert Your Wage Instantly
Understanding your income is the first step in financial planning. Whether you are negotiating a new job offer, freelancing, or simply curious about your yearly earnings, converting your hourly wage to an annual salary gives you the clarity you need.
Use the Your Free Calculators Wage Converter above to instantly breakdown your pay into daily, weekly, monthly, and yearly totals.
How to Use This Calculator
The math behind your paycheck is simple, but doing it in your head can be tricky.
- Enter your Hourly Wage: Input your pre-tax pay rate (e.g., $25).
- Enter Hours Per Week: The default is set to 40 hours (standard full-time), but you can adjust this if you work part-time or overtime.
- See the Results: The dashboard automatically updates to show your gross income across all timeframes.
Common Wage Conversions (Quick Reference)
Based on a standard 40-hour work week (2,080 working hours per year), here is a quick look at common hourly rates converted to yearly salaries:
- $15 an hour: $31,200 per year
- $20 an hour: $41,600 per year
- $25 an hour: $52,000 per year
- $30 an hour: $62,400 per year
- $50 an hour: $104,000 per year
Note: These figures are “Gross Income” (before taxes).
Why Knowing Your Annual Salary Matters
1. Budgeting and Rent
Most landlords and mortgage lenders look at your annual gross income or your monthly gross income to determine if you qualify for a home. Knowing that $22/hour equals roughly $3,800/month helps you set a realistic budget for housing.
2. Job Comparisons
It is common to receive two different types of job offers. One might offer $60,000 a year, while the other offers $30 an hour.
Using our calculator, you can see that $30/hour equates to $62,400/year. Suddenly, the hourly job looks more attractive than the salaried one!
3. Factor in Unpaid Time Off
If you are an hourly employee or freelancer, you only get paid when you work. If you take 2 weeks of unpaid vacation, your yearly total will decrease.
- Pro Tip: If you plan to take 2 weeks off, calculate your yearly salary based on 50 weeks instead of 52 in the tool above.
Frequently Asked Questions
How many work hours are in a year?
A standard full-time job (40 hours/week) consists of 2,080 hours per year (40 hours x 52 weeks).
Does this calculator include taxes?
No, this calculator shows your Gross Income (earnings before taxes). Your “Take Home” (Net) pay will be lower depending on your state and federal tax brackets.
How do I calculate monthly income from hourly?
The formula is: (Hourly Wage × Hours per Week × 52 Weeks) ÷ 12 Months. Or simply use the tool above for an instant answer!