Home / LIFE {simplify} / Good to Know / How To Convert Hourly Wage
To Annual Salary

How To Convert Hourly Wage
To Annual Salary

This is a simple solution for getting a close-to, approximate hourly wage to annual salary conversion. This calculation is easy to figure out quickly and is good-to-have walking around knowledge. Simply double the hourly figure and add 3 zeros.

This is not an exact figure, but a very close estimate that can be figured faster than it takes to find your calculator on your smartphone.

Note: This simple calculation only works for a full time employee that works 52 weeks a year at 40 hours per week.

The reverse also works when doing a quick estimate of what an hourly wage is when you know the annual salary. Start by taking the annual salary, moving the decimal left 3 places and dividing that number in half.

How do you convert your Hourly Wage to an Annual Salary?
How do you convert your Hourly Wage to an Annual Salary?

To illustrate a simple example of this. If you earn $15 per hour, that would roughly equate to a salary of $30,000 a year.

Hourly Rate to Annual Salary Calculation

Doing the actual math computation would be as follows:
52 weeks in a year multiplied by a 40 hour work week would 2080 hours worked in a year. When you multiply the $15 per hour by 2080 working hours you would get an actual annual salary of $31,200.

Therefore, the reverse is also easy enough to figure out. For a salary of $30,000 per year a wage estimate would be $15 per hour. Again this is an estimate that will get you within the ballpark by using simple math.

Annual Salary to Hourly Rate Calculation

Take the annual salary of $30,000 and divide it by the number of hours for full time employment of 2080 (52 weeks x 40 hours per week). This calculation will give you $14.42 hourly rate.

In addition to these quick calculations there are many on-line converters. If you are looking for a few more calculations going hourly wage to annual salary and more figures in-between, check out this awesome Hourly / Yearly Wage Conversion Estimator.

About Quick.Tips