This calculator will help you to quickly convert a wage stated in one periodic term (hourly, weekly, etc.) into its equivalent stated in all other common periodic terms. This can be helpful when comparing your present wage to a wage being offered by a prospective employer where each wage is stated in a different periodic term (e.g., one is listed as an hourly wage and the other is listed as annually).
Simply enter a wage, select it's periodic term from the pull-down menu, enter the number of hours per week the wage is based on, and click on the "Convert Wage" button.
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What Are Your Equivalent Hourly Earnings?
Most years have 365 days in them while leap years have 366 days. Few people work every day of the year though, with a 5-day work week being the most common schedule & employees typically working an 8-hour day. After the passage of the Affordable Care Act (or ACA, also known as Obamacare) some employers lowered worker hours to get below the health insurance carriage requirement, so the average work week has been pulled down to around 32-hour for many workers while some work even less.
Many employers also often give workers a week off around the holidays near the end of the year & another week of vacation or sick time to use in the summer or throughout the rest of the year. Since years have 52 weeks in them, a work year with 2 weeks off consists of 50 weeks. Employees who work 5 days a week thus tend to work about 250 day, less any other holidays & time off.
How to Calculate Hourly Wage
If you work a 2,000 hour work year then divide your annual earnings by 2,000 to figure out your hourly wage. To do this quickly in your head you would drop 3 zeros from your annual salary & then divide the remaining number by 2. So if you make $60,000 a year that would first become $60 & then divide that by 2 to get $30 per hour.
The following table shows the equivalent pre-tax hourly income associated with various annual salaries for a person who worked 8 hours a day for either 200 or 250 days for a total of 1,600 to 2,000 annual hours per year. These hours are equivalent to working an 8-hour day for a 4-day & 5-day work week for 50 weeks per year. Please note the numbers in this table are before income taxes, so you would have to deduct your income taxes from them to get your after-tax takehome pay.
|Annual Income||1,600 Hourly Equivalent||2,000 Hourly Equivalent|