Hourly to Salary Calculator
- Hourly to Salary
- Salary to Hourly
- Time and a Half
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How to calculate your annual salary
To calculate your annual salary, take your hourly wage and multiply it by the number of paid hours you work per week and then by the number of paid weeks you work per year.
Formula for calculating annual salary
Annual salary = hourly wage × hours per week × weeks per year
For guidance, a standard working week for a full-time employee is around 40 hours. Note that if you take two weeks of unpaid leave per year, your number of weeks will be 50, rather than 52.
Example calculation
Let's go through an example. If you make $15 per hour and are paid for working 40 hours per week for 52 weeks per year, your annual salary (pre-tax) will be 15 × 40 × 52 = $31,200.
Using this formula, we can calculate the following annual incomes from basic hourly pay. It's important to remember that these figures are pre-tax and deductions.
Hourly rate to annual salary
Annual salary is based upon 52 weeks; weekly pay is based upon 40 working hours per week.
| Hourly pay | Annual salary | Monthly pay | Weekly pay |
|---|---|---|---|
| $10 per hour | $20,800 | $1,733.33 | $400 |
| $11 per hour | $22,880 | $1,906.67 | $440 |
| $12 per hour | $24,960 | $2,080.00 | $480 |
| $13 per hour | $27,040 | $2,253.33 | $520 |
| $14 per hour | $29,120 | $2,426.67 | $560 |
| $15 per hour | $31,200 | $2,600.00 | $600 |
| $16 per hour | $33,280 | $2,773.33 | $640 |
| $17 per hour | $35,360 | $2,946.67 | $680 |
| $18 per hour | $37,440 | $3,120.00 | $720 |
| $19 per hour | $39,520 | $3,293.33 | $760 |
| $20 per hour | $41,600 | $3,466.67 | $800 |
| $21 per hour | $43,680 | $3,640.00 | $840 |
| $22 per hour | $45,760 | $3,813.33 | $880 |
| $23 per hour | $47,840 | $3,986.67 | $920 |
| $24 per hour | $49,920 | $4,160.00 | $960 |
| $25 per hour | $52,000 | $4,333.33 | $1,000 |
| $26 per hour | $54,080 | $4,506.67 | $1,040 |
| $27 per hour | $56,160 | $4,680.00 | $1,080 |
| $28 per hour | $58,240 | $4,853.33 | $1,120 |
| $29 per hour | $60,320 | $5,026.67 | $1,160 |
| $30 per hour | $62,400 | $5,200.00 | $1,200 |
$18 per hour is how much per year?
If you're paid an hourly wage of $18 per hour, your annual salary will equate to $37,440, your monthly salary will be $3,120 and your weekly pay will be $720. These figures are pre-tax and based on working 40 hours per week for 52 weeks of the year, with no overtime.
| Hourly | Yearly | Monthly | Weekly |
|---|---|---|---|
| $18 | $37,440 | $3,120 | $720 |
What is the US median salary?
The median - or middle - weekly pay for a full time US worker is currently $1,037. This works out at $53,924 per year, based upon 52 weeks. There is still much gender inequality in earnings, however. Whilst men have median earnings of $1128, women have median weekly earnings of $939 (83.2% of the figure for men). Salaries vary greatly by occupation and state, as well as other factors. 1
What is the UK median salary?
The median - or middle - weekly pay for a full time worker in the UK is currently £602. This works out at £31,285 per year, based upon 52 weeks. 2
Summary
Your annual salary can be calculated by multiplying your hourly rate by the number of hours you work each week and then again by the number of weeks you work each year. This is commonly either 52 or 50 weeks, depending on whether you receive paid leave. Your calculated salary figure will be pre-taxation and deductions.
If you're calculating your yearly salary as part of a financial planning process to save towards a goal, you can use our interest calculator tool to see how your savings might increase over time with the help of regular saving and compound interest.
Calculator by Alastair Hazell. Reviewed by Chris Hindle.Calculator references
- Usual weekly earnings of wage and salary workers. Bureau of Labor Statistics. USA.
- Earnings and hours worked, place of residence by local authority. Office for National Statistics (UK).
