Formula
Hourly pay becomes annual pay from the hours you work each week, across 52 weeks. The other periods divide that annual amount:
Annual pay = hourly pay × hours per week × 52
Weekly, monthly, and yearly amounts are converted with 52 weeks and 12 months. Unpaid leave is not removed.
Assumptions
- A year has 52 paid weeks and 12 equal months.
- The hours per week stay constant.
- Taxes and deductions are not removed.
Worked example
$20.00 an hour for 40 hours a week is $41,600.00 a year, or $3,466.67 a month.
Input definitions
- Pay amount
- The wage for the period you select.
- Hours per week
- Paid hours used to move between hourly and annual pay.
Limitations
This is gross pay before tax. Overtime premiums, unpaid weeks, and employer benefits are not included.
Questions
Does this subtract income tax?
No. Every figure is gross pay before tax and other deductions.
Why 52 weeks?
The year is treated as 52 paid weeks so hourly and weekly pay convert without skipping vacation.