Welcome to our free online paycheck calculator, here you can:
• Calculate annual salary, monthly salary, and weekly salary from an hourly wage with this hourly wage calculator.
• Input your hourly wage, normal hours per week, overtime hours, and no. of weeks worked in a year to determine weekly and annual salary.
• Also, you can convert your salary into hourly and weekly by using the salary converter formulas described below.
To find salary from hourly wage, use these formulas:
Regular Weekly Pay = Hourly Wage x Hours Worked
Overtime Weekly Pay = Hourly Wage x 1.5 x Overtime Hours
Overtime Hours = The amount of hours worked above-and-beyond 40
hours. If you worked 55 hours in a week, your overtime hours would
Total Weekly Pay = Regular Weekly Pay + Overtime Weekly Pay
Total Salary = Weekly Pay x Work Weeks per Year
Example: If you earn $8.35 per hour, work 50 weeks a year, and
average 50 hours/week:
Regular Weekly Pay = 8.35 x 40 = $334
Overtime Weekly Pay = 8.35 x 1.5 x 10 = $125.25
Total Weekly Pay = $334 + $125.25 = $459.25
Total Salary = $459.25 x 50 = $22,962.50
Wages vs. Salary information
Just to be clear on what wage is in comparison to salary:
• Wage is compensation based on the no. of hours worked and multiplied by the rate of pay per hour. Wage-earners are going to be subject to some changes in predictable pay due to the number of hours available to work.
• A salary is an agreed amount of annual pay for completing tasks rather than working hours if you want a steady, constant paycheck that is predictable, you may want to seriously consider a salary position.
Salary from hourly wage
How to calculate the average monthly salary?
If you want to calculate your monthly average salary from hourly wages, then:
• Just find out the weekly wages by using this calculator.
• Multiply weekly wages with no. of weeks worked.
Weekly wages × No. of weeks worked = Average monthly salary
How to calculate Annual salary or Annual Paycheck?
You can calculate your annual gross income or annual paycheck from this calculator by filling the following details in the field boxes:
• Put the hourly wages.
• Hours in a week worked and overtime hours if any.
• No. of weeks worked in a year.
This calculator will bring you the result of your annual gross income.
How to calculate Annual/Monthly take home paycheck?
If you want to calculate the net income for a month or for a year you can calculate from this calculator by deducting all the taxes from your paycheck:
• Just subtract the amount of pre-tax and post-tax contributions for benefits from total monthly or yearly income.
• Deduct the federal, state and local taxes.
• The result is the net income.
Regular or Overtime weekly pay:
You can calculate regular, overtime and total weekly income using the following formulas:
• Regular weekly pay= Hourly wage × Hours worked
• Overtime weekly pay = Hourly wage × 1.5 × Overtime hours
• Total weekly pay = Regular weekly pay + Overtime weekly pay