To calculate how much an hourly wage translates to annually, the standard method is: Annual salary = Hourly wage × Hours worked per week × Weeks worked per year Typically, full-time work is assumed to be 40 hours per week and 52 weeks per year (no unpaid time off), which equals 2080 hours annually. Here are some examples based on this formula:
-
At $10 per hour:
$10 × 40 × 52 = $20,800 per year -
At $15 per hour:
$15 × 40 × 52 = $31,200 per year -
At $20 per hour:
$20 × 40 × 52 = $41,600 per year -
At $23 per hour:
$23 × 40 × 52 = $47,840 per year -
At $30 per hour:
$30 × 40 × 52 = $62,400 per year
If you work fewer hours or fewer weeks, adjust the calculation accordingly.
For example, part-time work at 20 hours per week for 48 weeks at $15 per hour
would be:
20 × 48 × 15 = $14,400 per year
. Thus, to find your yearly salary from an hourly wage, multiply your hourly rate by your typical weekly hours and then by the number of weeks you work annually. This gives a pre-tax estimate of your gross annual income.
