Salary Calculator
What is a Salary Calculator?
A salary calculator converts between hourly, daily, weekly, bi-weekly, monthly, and annual pay figures. Whether you are evaluating a job offer, negotiating a raise, or comparing contract rates to salaried positions, it puts all the numbers on the same scale.
How It Works
Example
You are offered $28/hr for a standard 40-hour week.
- Annual: $28 x 40 x 52 = $58,240
- Monthly: $58,240 / 12 = $4,853
- Bi-weekly paycheck: $28 x 40 x 2 = $2,240
Tips
- These are gross (pre-tax) figures. Your take-home pay will be lower after federal, state, and local taxes plus benefits deductions.
- Adjust weeks per year to account for unpaid time off. If you take 2 weeks unpaid, use 50 instead of 52.
- When comparing a salaried role to a contract rate, factor in that contractors typically pay their own benefits and self-employment tax.
Frequently Asked Questions
What is the difference between gross and net salary?
Gross salary is your total pay before any deductions. Net salary is what you actually receive after income taxes, Social Security, Medicare, and any other withholdings are subtracted. This calculator shows gross figures only.
How many weeks are in a work year?
A standard work year is 52 weeks. Many employers use 52 for payroll calculations. If you have paid time off, you are still paid for those weeks, so 52 is the right number for salary conversions regardless of vacation days.
How do I convert an annual salary to an hourly rate?
Divide the annual salary by the number of hours worked per year. For a standard 40-hour week: salary / (40 x 52) = salary / 2,080. A $52,000 salary works out to $25/hr.
What is a bi-weekly pay schedule?
Bi-weekly means paid every two weeks, resulting in 26 paychecks per year. This differs from semi-monthly (24 paychecks per year, paid on fixed dates like the 1st and 15th). Most hourly and many salaried workers are paid bi-weekly.