How it's calculated
- Hourly = Salary ÷ (Hours/week × Weeks worked)
- Daily = Hourly × (Hours/week ÷ 5)
- Weekly = Hourly × Hours/week
- Monthly = Weekly × (Weeks ÷ 12)
- Every 2 weeks = Weekly × 2
All figures are pre-tax (gross). Net take-home pay depends on your country's income tax rates, social security contributions, and deductions.
Converting by hand
Example: a $65,000 salary at 40 hours a week for 52 weeks.
- Hours in the year: 40 × 52 = 2,080.
- Hourly rate: $65,000 ÷ 2,080 = $31.25.
- Daily (five 8-hour days): $31.25 × 8 = $250.
- Weekly: $31.25 × 40 = $1,250.
- Every two weeks: $1,250 × 2 = $2,500.
- Monthly: $1,250 × 52 ÷ 12 = $5,416.67.
If you count only 50 working weeks, the same salary works out to $32.50 an hour, because the pay is spread over 2,000 hours instead of 2,080.
Common salaries as hourly pay
| Annual salary | Hourly | Weekly | Every 2 weeks | Monthly |
|---|---|---|---|---|
| $30,000 | $14.42 | $576.92 | $1,153.85 | $2,500.00 |
| $40,000 | $19.23 | $769.23 | $1,538.46 | $3,333.33 |
| $50,000 | $24.04 | $961.54 | $1,923.08 | $4,166.67 |
| $60,000 | $28.85 | $1,153.85 | $2,307.69 | $5,000.00 |
| $75,000 | $36.06 | $1,442.31 | $2,884.62 | $6,250.00 |
| $100,000 | $48.08 | $1,923.08 | $3,846.15 | $8,333.33 |
| $150,000 | $72.12 | $2,884.62 | $5,769.23 | $12,500.00 |
A quick estimate: halve the salary and drop the thousands. $50,000 becomes about $25 an hour. That shortcut assumes 2,000 hours, so it runs a little high compared with the 2,080-hour figure.
Things the hourly figure leaves out
- Unpaid overtime. If you are salaried and regularly work 45 hours, $65,000 is really $27.78 an hour, not $31.25. Enter your actual hours to see it.
- Benefits. Health insurance, retirement matching and paid leave have real value that a straight hourly comparison misses.
- Part-time hours. Enter the hours you actually work. A $30,000 salary for 25 hours a week over 52 weeks is $23.08 an hour, far more than the $14.42 a full-time schedule would suggest.
- Pay schedule. Bi-weekly pay means 26 paychecks a year, so two months each year have three paydays. Semi-monthly pay means 24 equal paychecks. The monthly figure here is the yearly total divided by 12.