Calculate annual income or solve for hourly pay, days per week, hours per day, weeks per year, or bonuses and overtime from your work schedule.
Annual Income Formula
The annual income calculator uses your hourly pay, work schedule, weeks worked per year, and yearly bonuses or overtime to calculate total annual income. Select the quantity to solve; its input is omitted.
To solve for hourly pay:
To solve for days worked per week:
To solve for hours worked per day:
To solve for weeks worked per year:
To solve for bonuses and overtime:
- AI = annual income, in dollars
- HP = hourly pay, in dollars per hour
- D = number of days worked per week
- H = number of hours worked per day
- W = number of weeks worked per year
- B = yearly bonuses plus overtime, in dollars
The main calculation multiplies hourly pay by total hours worked in the year, then adds any yearly bonuses or overtime. Select a reverse solve mode and enter annual income plus the known schedule values to find the missing rate, schedule value, or annual bonus/overtime amount.
Common Work Schedule and Annual Hour Assumptions
Annual income estimates depend heavily on the number of paid work weeks used. A full calendar year has 52 weeks, but many estimates use 50 weeks to account for unpaid time off or unpaid holidays.
| Schedule | Days/Week | Hours/Day | Weeks/Year | Annual Hours |
|---|---|---|---|---|
| Full-time, 52 weeks | 5 | 8 | 52 | 2,080 |
| Full-time, 50 weeks | 5 | 8 | 50 | 2,000 |
| Part-time | 3 | 6 | 50 | 900 |
| Seasonal | 5 | 8 | 26 | 1,040 |
Hourly Pay Converted to Annual Income
The table below uses a 5-day workweek, 8 hours per day, 50 weeks per year, and no bonuses or overtime.
| Hourly Pay | Annual Hours | Estimated Annual Income |
|---|---|---|
| $15/hour | 2,000 | $30,000 |
| $20/hour | 2,000 | $40,000 |
| $25/hour | 2,000 | $50,000 |
| $30/hour | 2,000 | $60,000 |
Example Calculations
Example 1: Calculate annual income
You earn $22 per hour, work 5 days per week, work 8 hours per day, work 50 weeks per year, and receive $1,500 in yearly bonuses and overtime.
Your annual income is $45,500.
Example 2: Calculate hourly pay from annual income
Your annual income is $60,000, your bonuses and overtime total $2,000, and you work 5 days per week, 8 hours per day, 50 weeks per year.
Your hourly pay is $29.00 per hour.
FAQ
Is annual income before or after taxes?
This calculator estimates gross annual income, which is income before taxes, deductions, retirement contributions, insurance premiums, or other withholdings. Your take-home pay will usually be lower than the annual income shown.
Should I use 50 weeks or 52 weeks per year?
Use 52 weeks if you are paid for the full year, including paid vacation and paid holidays. Use 50 weeks if you want a rough estimate that excludes about two unpaid weeks. If you are seasonal, contract, or part-time, enter the actual number of weeks you expect to work.
How should I enter overtime?
For the annual schedule method, enter total expected yearly overtime pay in the bonuses and overtime field. The separate six-month hourly projection accepts overtime hours and a pay multiplier. For example, if you expect $3,200 in overtime pay for the year, enter 3200 in that field.
