💰 Annual Income Calculator
Convert hourly rate to annual salary
50 weeks accounts for 2 weeks vacation
How to Use This Calculator
Enter your hourly rate
Input your hourly wage or rate of pay in the first field.
Enter hours per week
Input the number of hours you work per week (default is 40 hours for full-time).
Enter weeks per year
Input the number of weeks you work per year (default is 52, or use 50 to account for 2 weeks vacation).
Calculate and review
Click calculate to see your annual, monthly, weekly, and daily income breakdowns.
Formula
Annual Income = Hourly Rate × Hours per Week × Weeks per Year
Example:
Hourly Rate = $25, Hours per Week = 40, Weeks per Year = 52
Annual Income = $25 × 40 × 52 = $52,000
Monthly Income = $52,000 ÷ 12 = $4,333.33
Weekly Income = $25 × 40 = $1,000
Daily Income = $1,000 ÷ 5 = $200
About Annual Income Calculator
The Annual Income Calculator is an essential financial planning tool that converts hourly wages into annual salary equivalents, helping individuals understand their total earning potential and make informed financial decisions. Whether you're evaluating a job offer, negotiating a raise, planning a career change, or simply trying to understand your financial situation, this calculator provides quick and accurate conversions between hourly rates and annual income. The calculator takes into account your hourly wage, typical work schedule (hours per week), and work frequency (weeks per year) to calculate not just annual income, but also monthly, weekly, and daily income breakdowns. This comprehensive view helps with budgeting, financial planning, and comparing different compensation structures. The tool is particularly valuable for hourly workers who want to understand their annual earning potential, freelancers and contractors evaluating different rate structures, job seekers comparing offers, and anyone planning their financial future. By adjusting the weeks per year input, you can account for vacation time, holidays, or part-year employment. The calculator also helps you understand the relationship between hourly rates and annual income, making it easier to evaluate whether a proposed hourly rate meets your annual income goals. Keep in mind that the results represent gross income before taxes, deductions, and other withholdings, so your actual take-home pay will be lower. This calculator is a starting point for financial planning and should be used alongside other tools to get a complete picture of your financial situation.
When to Use This Calculator
- Job evaluation: Compare hourly vs. salaried positions
- Salary negotiation: Understand annual value of hourly rates
- Budgeting: Plan finances based on annual income
- Career planning: Evaluate earning potential across different roles
Why Use Our Calculator?
- ✅ Quick conversion: Instantly convert hourly to annual income
- ✅ Multiple breakdowns: See annual, monthly, weekly, and daily income
- ✅ Flexible inputs: Adjust for part-time work, vacation time, etc.
- ✅ Free tool: No registration or payment required
Frequently Asked Questions
What is the difference between gross and net income?
Gross income is your total earnings before taxes and deductions. Net income (take-home pay) is what you receive after taxes, Social Security, Medicare, health insurance, retirement contributions, and other deductions are subtracted.
Should I use 52 weeks or account for vacation?
If you receive paid vacation, use 52 weeks. If you don't receive paid time off, subtract vacation weeks (e.g., use 50 weeks for 2 weeks unpaid vacation).
How do I account for overtime?
This calculator uses a fixed hourly rate. For overtime, calculate regular hours and overtime hours separately, then add them together for total annual income.
Can I use this for part-time work?
Yes, simply enter your part-time hours per week. For example, if you work 20 hours per week, enter 20 in the hours per week field.
Does this include benefits?
No, this calculator only converts hourly wages to annual salary. Benefits like health insurance, retirement contributions, and bonuses are separate and should be considered separately when evaluating total compensation.