To convert an hourly wage to an annual salary, use this formula: Annual salary = Hourly wage × Hours worked per week × Weeks worked per year
- A standard full-time schedule is usually 40 hours per week and 52 weeks per year.
- For example, if you earn $15 per hour and work 40 hours weekly for 52 weeks, your annual salary is: 15×40×52=31,20015\times 40\times 52=31,20015×40×52=31,200 dollars per year
Here are some common examples based on a 40-hour workweek and 52 weeks per year:
Hourly Wage| Annual Salary
---|---
$10| $20,800
$15| $31,200
$20| $41,600
$25| $52,000
$30| $62,400
If you work fewer hours per week, adjust the formula accordingly. For instance, $25 per hour at 20 hours per week results in: 25×20×52=26,00025\times 20\times 52=26,00025×20×52=26,000 dollars annually
. Conversely, to find the hourly wage from an annual salary, divide the salary by (hours per week × weeks per year). For example, a $50,000 yearly salary equates to about $24.04 per hour assuming 40 hours/week and 52 weeks/year:
50,00040×52=24.04\frac{50,000}{40\times 52}=24.0440×5250,000=24.04
These calculations are pre-tax and do not account for unpaid leave or overtime
