Hourly Wage Calculator
Calculate your true take-home pay with this advanced hourly wage calculator. Convert hourly rates to annual salary, estimate taxes, overtime, and adjust for unpaid vacation time.
About
Accurate income projection is the cornerstone of financial stability. Whether you are a freelancer setting rates, an employee negotiating a raise, or a job seeker comparing offers, understanding the mathematical relationship between an hourly wage and annual income is critical. A discrepancy of just a few dollars an hour can translate to thousands in lost potential earnings over a year.
This tool goes beyond simple multiplication. It accounts for real-world variables such as overtime premiums, unpaid time off, and progressive tax estimates. By visualizing the breakdown of your earnings across different timeframes, you can make data-driven decisions about your career and lifestyle.
Formulas
The core calculation for annual income assumes a standard work year. However, accurate financial planning requires adjusting for unpaid time off and overtime.
To estimate take-home pay, we apply a simplified progressive tax model where Tax is a function of the gross annual income.
Reference Data
| Timeframe | Formula | Hours (Standard) |
|---|---|---|
| Daily | Rate × Hours | 8 |
| Weekly | Daily × 5 | 40 |
| Bi-Weekly | Weekly × 2 | 80 |
| Monthly | Annual ÷ 12 | 173.33 |
| Quarterly | Monthly × 3 | 520 |
| Semi-Annually | Annual ÷ 2 | 1,040 |
| Annually | Weekly × 52 | 2,080 |
| Overtime (1.5x) | Rate × 1.5 | Variable |
| Double Time (2.0x) | Rate × 2.0 | Variable |