Salary Calculator
Convert pay between hourly, daily, weekly, monthly and yearly figures. Set your own hours per week and working weeks per year for an accurate comparison.
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Use 48 to exclude four weeks of unpaid leave
Annual salary
50,000
- Monthly
- 4,166.67
- Weekly
- 961.54
- Daily (5-day week)
- 192.31
- Hourly
- 24.04
40 hours × 52 weeks = 2,080 hours per year. This is gross pay, before tax.
How the conversion works
Everything is normalised to an annual figure first, then divided back down. An hourly rate becomes annual pay by multiplying by hours per week and working weeks per year.
The monthly figure is a twelfth of the annual total, not four weeks of pay. Using four weeks would give only 48 weeks a year and understate annual earnings by about 8%.
Annual = hourly × hours per week × weeks per year Monthly = Annual ÷ 12
Choosing the right number of weeks
A salaried employee with paid holiday is paid for all 52 weeks, so 52 is correct. A contractor or freelancer who is only paid for time worked should subtract unpaid leave.
Four weeks of unpaid holiday means 48 working weeks, which raises the effective hourly rate needed to reach the same annual income by about 8%.
Comparing employment and contract rates
A contract day rate is not comparable to a salary without adjustment. Contractors typically have no paid holiday, no sick pay, no employer pension contribution and no notice period, and carry the cost of gaps between engagements.
A common rule of thumb is that a contract rate needs to be 20-40% above the equivalent salary to leave you in the same position, though the right figure depends on your local tax treatment.
This is gross pay
All figures here are before income tax, national insurance or social contributions, and before pension deductions. Take-home pay is substantially lower and depends on your country, tax code and personal circumstances.
Use an official tax calculator for your jurisdiction to work out net pay.
Frequently asked questions
How do I convert an hourly rate to an annual salary?
Multiply the hourly rate by hours worked per week, then by working weeks per year. At £25 an hour, 40 hours a week and 52 weeks: 25 × 40 × 52 = £52,000.
Why is monthly pay not four weeks of pay?
Because a year has about 4.33 weeks per month, not 4. Multiplying weekly pay by four gives only 48 weeks a year and understates annual earnings by roughly 8%. Monthly pay is the annual figure divided by 12.
Should I use 52 weeks or fewer?
Use 52 if you are salaried with paid holiday, since you are paid for the whole year. Use fewer if you are only paid for time actually worked, such as 48 weeks to allow for four weeks of unpaid leave.
Is this take-home pay?
No, these are gross figures before any tax, national insurance or pension deductions. Net pay depends on your country and personal tax situation and will be significantly lower.
How much should a contract rate be compared with a salary?
Typically 20-40% higher, to cover unpaid holiday, sick leave, pension contributions and the risk of gaps between contracts. The exact figure depends on local tax treatment and how much work you can secure.
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