Hourly to Annual Salary Calculator
Convert your hourly wage to an annual salary to better understand your income and budget for the long term.
Quick Use Samples
Your Hourly Rate
Tip: 52 for a full year, 48 to account for 4 weeks unpaid leave.
Salary Equivalents
An hourly rate of $35.00 for 38 hours per week over 52 weeks a year is equivalent to an annual gross salary of $69,160.
| Annual Salary | $69,160 |
| Monthly Salary | $5,763 |
| Weekly Salary | $1,330 |
| Daily Salary (5-day week) | $266 |
Additional Details
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What is an Hourly to Annual Salary Calculator?
An Hourly to Annual Salary Calculator is a simple tool that converts an hourly wage into its equivalent annual salary, and other common pay periods like weekly and monthly. It's essential for casual or part-time workers to understand their earnings in a broader context and for comparing different job offers.
Behind the Formula
The core calculation is straightforward: Annual Salary = Hourly Rate × Hours per Week × Weeks per Year. The calculator uses this annual figure as a base to then derive the equivalent pay for other periods, such as dividing by 12 for monthly or by 52 for weekly. It highlights how the number of hours and weeks worked are crucial variables in the final figure.
Expert Insights
- When comparing a casual hourly rate to a permanent salary, you must account for the casual loading (typically 25%) and the value of paid leave and job security that a permanent role provides. A higher casual rate doesn't always mean you're better off.
- The number of 'weeks worked' is a key variable that is often overlooked. For example, school teachers or university staff may only work 40-42 weeks a year, so their annual salary is based on this, not 52 weeks.
- For salaried employees, this calculator can work in reverse to find their 'real' hourly rate. This can be a useful exercise for understanding the value of your time and for comparing your pay to industry standards which are sometimes quoted hourly.
Actionable Tips
- Use this tool to benchmark your pay. Job ads often list an annual salary, so converting your hourly rate allows for a direct comparison to see if you are being paid the market rate.
- For a more realistic annual figure, enter the actual number of weeks you expect to work, accounting for any planned unpaid leave. For many casuals, 48 weeks is a more accurate number than 52.
- When offered a permanent position, use this calculator to compare the gross salary against what you were earning as a casual. The permanent salary should be lower than your loaded casual rate, but it comes with the added benefits of paid leave and security.
Real-World Examples
A Retail Worker on a Casual Rate
A retail worker earns a loaded casual rate of $30/hour. Working 20 hours a week for 48 weeks a year, the calculator shows their equivalent annual income is $28,800, which is useful for budgeting and tax planning.
A Part-Time Professional
A professional works 3 days a week (22.8 hours) at an hourly rate of $50. The calculator shows their annual pro-rata salary is $59,280, the correct figure for their part-time arrangement.
A Salaried Employee Calculating Their Hourly Rate
Someone on an $80,000 annual salary, working a standard 38-hour week, uses the calculator in reverse to find their gross hourly rate is approximately $40.58.
Glossary of Terms
Casual Loading
An extra amount (usually 25%) paid to casual employees on top of their base hourly rate to compensate for not having benefits like paid leave.
Pro Rata
A Latin term meaning 'in proportion'. It's used to describe a salary or entitlement that is calculated in proportion to a full-time equivalent, common for part-time employees.
Full-Time Equivalent (FTE)
A unit that indicates the workload of an employee. An FTE of 1.0 is a full-time worker, while an FTE of 0.6 means the person works 60% of full-time hours.