Convert between annual salary, monthly pay, weekly pay, and hourly wage. Calculate your take-home pay after taxes and deductions.
| Pay Period | Gross Pay |
|---|---|
| Annual Salary | $0.00 |
| Monthly Pay | $0.00 |
| Weekly Pay | $0.00 |
| Hourly Wage | $0.00 |
| Federal Income Tax | $0.00 |
| State Income Tax | $0.00 |
| Social Security Tax | $0.00 |
| Medicare Tax | $0.00 |
| Total Taxes | $0.00 |
| Net Annual Pay | $0.00 |
To convert an annual salary to an hourly wage, divide the annual salary by the number of working hours in a year.
Formula: Hourly Wage = Annual Salary ÷ (Hours per Week × Weeks per Year)
Example: $50,000 annual salary with 40 hours/week for 52 weeks = $50,000 ÷ (40 × 52) = $24.04/hour
To convert a monthly salary to an annual salary, multiply the monthly amount by 12 (months in a year).
Formula: Annual Salary = Monthly Salary × 12
Example: $4,000 monthly salary = $4,000 × 12 = $48,000 annual salary
Tax withholding is calculated based on your filing status, income level, and state of residence. Key components include:
Gross pay is your total earnings before any deductions, while net pay (take-home pay) is the amount you receive after taxes, insurance premiums, retirement contributions, and other deductions have been subtracted.
A standard full-time work year is typically 2,080 hours (40 hours/week × 52 weeks). However, this can vary based on your specific work schedule, paid time off, and holidays. Some calculations use 2,087 hours to account for the extra day in leap years.
The calculations are similar but have key differences. Salaried employees receive a fixed amount regardless of hours worked, while hourly employees are paid for actual hours worked. Overtime regulations also differ between these employment types.
Our tax estimates are based on standard tax brackets and rates but should be considered approximations. Actual tax liability depends on many factors including deductions, credits, additional income sources, and specific tax situations. Always consult a tax professional for precise calculations.