Annual Salary Calculator

If you ever wondered how much money you could make in a year, our annual salary calculator is the tool you need to put the power of financial planning in your hands.

No more guessing or estimating; enter your hourly wage, and our tool will calculate the yearly salary. You'll be able to see your projected annual income and better plan for your financial future.

You can also use this tool as a yearly salary to hourly wage calculator and convert from annual salary to hourly rate.

To calculate the yearly salary from the hourly rate:

1. Multiply the working hours per week by the working weeks per year;
2. Multiply the previous result by the hourly wage; and
3. That's it. The last result is the calculated annual salary.

We can summarize the previous procedure and convert from annual to yearly salary with the following formula:

Let's look at some examples of how to calculate annual salaries with 40 weekly working hours and 52 annual working weeks:

• For a wage of $17/hr, the yearly salary is $35,360:
  Annual salary = $17/hr × 40 hrs/week × 52 weeks/yr = $35,360/yr
• For a wage of $20 per hour, the annual salary is $41,600:
  Annual salary = $20/hr × 40 hrs/week × 52 weeks/yr = $41,600/yr
• For a wage of $42/hour, the annual salary is $87,360:
  Annual salary = $42/hr × 40 hrs/week × 52 weeks/yr = $87,360/yr
• For a wage of $70/hr, the yearly salary is $145,600:
  Yearly salary = $70/hr × 40 hrs/week × 52 weeks/yr = $145,600/yr

To calculate the annual income and hourly wage after taxation, multiply them by one minus the tax rate expressed as a decimal:

For example, applying a 12% tax rate to a wage of $20 per hour and its annual salary of $41,600/yr:

• Annual income calculator;
• Annual pay calculator; and
• Yearly wage calculator.

To convert an annual salary to an hourly rate:

1. Divide the annual salary by the working weeks per year.
2. Divide the previous result by the working hours per week.
3. That's it. The last result is the hourly rate for that annual salary!

We can summarize all that procedure in the following formula:

Hourly wage = (Annual salary)÷(Hours per week × Weeks per year)

$17/hr wage corresponds to a $35,360 yearly salary. For a 12% income tax, this corresponds to $31,116.80 after taxation.

According to the U.S. Bureau of Labor Statistics, the average annual salary in the U.S. is $58,260, corresponding to a $28.01 average hourly wage.