Inflation & buying power
Estimate future prices and how inflation can nibble away at the money you hold.
Economics 101Everyday money
Salary converter calculator
Your paycheck, in a different gait.
Your numbers
Convert an hourly rate or annual salary into annual, monthly, weekly, and hourly equivalents.
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THE MATH, WITHOUT THE MYSTERY
What’s actually happening here?
Convert pay into comparable units. For hourly work, paid weeks matter: 40 hours for 48 paid weeks is not the same annual income as 40 hours for 52 paid weeks.
Monthly and calendar-week figures spread annual pay over 12 months and 52 weeks. The hourly equivalent divides annual salary by hours per week × paid weeks. A calendar weekly average is not necessarily an actual payslip.
THE FORMULA
Annual pay = Hourly rate × Hours per week × Paid weeks per year
A small example
At 25 an hour, 40 hours a week, and 52 paid weeks, annual gross pay is 52,000 and the monthly average is 4,333.33.
GOOD QUESTIONS
A few things worth knowing.
Is this take-home pay?
No. It is gross pay before taxes and deductions. No country or tax bracket is assumed.
Why is monthly pay not four times weekly pay?
A year has 12 months but about 52 weeks. Dividing by 12 gives about 4.33 weeks per month, not exactly four.