';if(type==='annual'){stepText+='1. Annual Salary = $'+amt.toFixed(2)+'
2. Weekly Pay = Salary / '+wks+' weeks = $'+weekly.toFixed(2)+'
3. Hourly Rate = Weekly / '+hrs+' hours = $'+hourly.toFixed(2);}else if(type==='hourly'){stepText+='1. Hourly Rate = $'+amt.toFixed(2)+'
2. Weekly Pay = Rate * '+hrs+' hours = $'+weekly.toFixed(2)+'
3. Annual Salary = Weekly * '+wks+' weeks = $'+annual.toFixed(2);}document.getElementById('solutionSteps').innerHTML=stepText;document.getElementById('solutionSteps').style.display='block';}else{document.getElementById('solutionSteps').style.display='none';}}
Calculator Use
The pay calculator is a comprehensive tool designed to help employees and employers convert between various pay frequencies. Whether you are negotiating a new salary, considering an hourly job offer, or trying to budget your monthly expenses, this tool provides an instant breakdown of your gross earnings.
By entering just a few basic details, you can see how your hourly wage translates into an annual salary, or vice versa. This is particularly useful for comparing job offers that use different payment structures.
- Pay Amount
- This is the dollar value of your pay. Depending on your selection, this could be your hourly wage (e.g., $25.00), your monthly salary, or your total annual salary (e.g., $65,000).
- Hours per Week
- The number of hours you work in a typical week. The standard for full-time employment in many regions is 40 hours, but you can adjust this for part-time schedules.
- Weeks per Year
- The total number of paid weeks in a year. Most calculations use 52 weeks, but you might use 50 if you take two weeks of unpaid leave annually.
How It Works
To understand how your pay is calculated, it helps to look at the basic mathematical formulas used by our pay calculator. The core objective is to find a common denominator—usually the annual or weekly total—to bridge the gap between hourly and salary figures.
Annual Salary = Hourly Rate × Hours per Week × Weeks per Year
- Hourly Rate: The amount earned for one hour of work.
- Weekly Pay: Calculated as (Hourly Rate × Hours per Week).
- Monthly Pay: Calculated as (Annual Salary / 12).
- Bi-Weekly Pay: Calculated as (Annual Salary / 26) or (Annual Salary / (Weeks per Year / 2)).
Calculation Example
Example: You are offered a job with an hourly rate of $32.00 per hour. You expect to work a standard 40-hour week for 52 weeks a year. You want to know your annual and monthly gross pay.
Step-by-step solution:
- Hourly Rate = $32.00
- Calculate Weekly Pay: $32.00 × 40 = $1,280.00
- Calculate Annual Salary: $1,280.00 × 52 = $66,560.00
- Calculate Monthly Pay: $66,560.00 / 12 = $5,546.67
- Result: Your gross annual salary is $66,560.00.
Common Questions
Does this pay calculator include taxes?
This specific tool calculates gross pay, which is your total earnings before any deductions such as federal income tax, state tax, Social Security, or healthcare premiums are taken out. Your "take-home" or net pay will be lower than the figures shown here.
How many working days are in a year?
In a standard 52-week year with a 5-day work week, there are 260 working days. If you work 40 hours per week, this equals 2,080 working hours per year. This is the standard multiplier many HR departments use to convert between hourly wages and annual salaries.
What is the difference between bi-weekly and semi-monthly pay?
Bi-weekly pay means you are paid every two weeks (26 times per year). Semi-monthly pay means you are paid twice a month (24 times per year), usually on the 1st and 15th. While the individual paychecks for semi-monthly pay are slightly larger, the total annual pay remains the same.