fincalculatorSalary Calculator
Use this free Salary Calculator to convert hourly rates to annual salary and vice versa. Simple, accurate, and easy to use online.
Job offers come in different formats: hourly rates, annual salaries, or monthly stipends. The Salary Calculator translates these different languages so you can compare apples to apples.
It converts any rate into its equivalent: Hourly, Daily, Weekly, Bi-weekly, Semi-monthly, Monthly, Quarterly, and Annually.
When to Use This Calculator
Use the Salary Calculator when negotiating a new job.
- Contractor vs Employee: "Is $50/hour better than $90,000 a year?"
- Budgeting: "My annual salary is $50,000. What is my gross weekly paycheck?"
Example Scenario
You are offered $25/hour.
Assuming a standard 40-hour work week (2,080 hours/year):
- Weekly: $1,000
- Monthly: $4,333
- Annually: $52,000
Formula & Calculation Method
Formula Used
Variable Explanation
- Inputs: User provided values
- Result: Calculated output
Step-by-Step Calculation
- 1. Process user inputs.
- 2. Apply standard financial formulas specific to this calculator type.
- 3. Display result.
Interpretation Notes
Refer to specific financial literature for the exact derivation of this specific calculator.
How to Interpret the Results
Unpaid Time Off: Hourly calculations assume you work every eligible hour. If you take 2 weeks unpaid vacation, your annual total drops.
Common Mistakes
Weekly vs Bi-Weekly: Remember there are 52 weeks but 26 bi-weekly pay periods (not 24). This implies two months a year you get 3 paychecks!