Salary Converter
Translate your income between different pay periods, such as hourly, daily, weekly, and annually, to easily compare offers and manage your budget.
Quick Use Samples
Salary Converter
| Frequency | Gross Pay | After Tax (est.) |
|---|---|---|
| Annual | $49,400.00 | $42,878.00 |
| Monthly | $4,116.67 | $3,573.17 |
| Fortnightly | $1,900.00 | $1,649.15 |
| Weekly | $950.00 | $824.58 |
| Hourly | $25.00 | $21.70 |
Based on 38 hours per week for 52 weeks a year, an hourly rate of $25.00 converts to an annual salary of $49,400.00. The equivalent pay frequencies are displayed in the results.
Pay Frequency Comparison
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What is a Salary Converter?
A Salary Converter is a tool that translates your income between different pay periods, such as hourly, daily, weekly, fortnightly, monthly, and annually. It allows you to easily compare job offers with different pay structures and understand your earnings in the time frame that makes the most sense to you.
Behind the Formula
The calculator uses standard time conversions to scale your pay up or down. It first calculates your annual salary based on the input you provide (e.g., multiplying a weekly wage by 52). Once it has the annual figure, it can accurately convert it to any other pay period by dividing by the relevant number (e.g., dividing by 12 for monthly, or by 2080 for a standard 40-hour work week to get an hourly rate).
Expert Insights
- When converting from an hourly rate to an annual salary, make sure to only include the standard hours you are paid for. Unpaid overtime should not be included, as it will inflate your perceived salary.
- Comparing salaries is more than just converting pay periods. A fortnightly-paid job might feel better for cash flow than a monthly-paid one, even if the annual salary is the same.
- Always clarify if a stated salary is inclusive or exclusive of superannuation. In Australia, the standard is for the salary to be exclusive of super, with the employer's 11% contribution paid on top. An 'inclusive' package is less than it appears.
Actionable Tips
- Use the converter to create a detailed personal budget. If you're paid monthly but your expenses are weekly, converting your salary to a weekly figure can make budgeting much easier.
- When comparing a full-time salaried role with a casual hourly role, remember to factor in the casual loading (usually 25%) on the hourly rate, but also account for the lack of paid leave in the casual role.
- Before negotiating a pay rise, convert your desired annual salary into a percentage and an hourly rate. This gives you different ways to frame the request and shows you've done your homework.
Real-World Examples
Comparing a Weekly vs. Monthly Salary
A job offer of $1,500 per week is converted to an annual salary of $78,000. Another offer of $6,500 per month is also converted to $78,000, showing that the two offers are identical in annual terms, though the pay cycles differ.
A Freelancer Quoting for a Project
A freelancer knows they need to earn at least the equivalent of an $85,000 annual salary. The converter shows them this breaks down to an hourly rate of approximately $41. This helps them set a fair price for their services.
Understanding Your Payslip
An employee's annual salary is $60,000. They use the converter to see this should equate to a gross fortnightly pay of $2,307. This helps them check their payslip and ensure they are being paid correctly.
Glossary of Terms
Gross Pay
The total amount of an employee's earnings before any deductions, such as tax, are taken out.
Pay Period
The recurring length of time over which an employee's time is recorded and paid, such as weekly, fortnightly, or monthly.
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 roles.