Hourly to Salary Calculator
Yearly Salary
In a lot of countries, specifically in the USA, a yearly salary is the usual indicator of pay when applying for work.
A yearly salary can be either given in a fixed fashion, or, it can be calculated based on the hourly wage.
Calculating The Yearly Salary
The way to calculate our yearly salary, based on the number of working hours per week, the number of working weeks per year, and the hourly wage, is as follows.
YEARLY ~SALARY \\= [HOURLY ~WAGE]\\*[WORK ~HOURS ~PER ~WEEK]\\*[WORK ~WEEKS ~PER ~YEAR]
Hence, to find the yearly salary, we just multiply all 3 of the given values.
Typical Work Times
In order to find our yearly salary, based on our hourly wage, we need to be aware of how much we actually work within a year. The facts below can help us approximate if we do not know these values exactly.
| Fact | Explanation |
|---|---|
| Days in a year | The year has 365 days (366 during leap years, but this can be ignored for simpler calculations). |
| Weeks in a year | The year has approximately 52.2 weeks, which can be rounded to 52 weeks for simplicity. |
| Hours in a workday | The usual workday is 8 hours long in most countries. |
| Hours in a workweek | The average workweek is 40 hours long. |
| Workdays in a year | The average number of workdays during a year in the USA is 260 days. |
The length of the work day, work week, and consequently, the whole work year, differs largely across countries, workplaces, industries, and cultures. It is, therefore, important to always be aware of our work demands and ensure we have a good work and life balance.
Worked Out Example
In our example, we will try to calculate the yearly salary of an average worker in New York.
Based on ZipRecruiter, the average hourly wage in New York is $23.26 an hour.
Furthermore, we will assume the average work week of 40 hours and the number of work weeks per year will be approximated, to reflect the average of 260 workdays.
260 workdays equal to 260÷7 = 37 weeks, rounded to the nearest week.
Applying our formula, this worker would have the following yearly salary.
YEARLY ~SALARY \\= [23.26]*[40]*[37] \\= 34,424.8
If we want to calculate the monthly payout of this value, we simply divide the yearly wage by the number of months in a year, which is 12.
34,424.8÷12 = 2,868.73, rounded to the nearest cent.
Hence, the average worker in New York makes $34,424.8 a year, which is $2,868.73 a month.
Using The Hourly To Salary Calculator
| Step | Instructions |
|---|---|
| 1 | Choose your desired currency at the top of the calculator. |
| 2 | In case your currency is not present, you can choose the empty slot at the end, so your result is not denominated in any currency and you can add it later yourself if needed. |
| 3 | In the HOURLY PAY section, input your hourly wage as a decimal number, using the decimal dot. |
| 4 | In the WORK HOURS PER WEEK section, input the usual number of hours you work in a week. |
| 5 | In the WORK WEEKS PER YEAR section, input the number of weeks you work in a year. |
| 6 | Click on CONVERT. |
| 7 | Your result will appear below the calculator, showing the yearly salary, alongside the monthly and weekly pay. |
