Free stipend calculator that converts any stipend into monthly, annual, weekly, and hourly equivalents, or finds the stipend you need to hit a monthly budget.
Stipend Conversion Formula
The calculator first converts whatever stipend you enter into a monthly equivalent. For a stipend paid over a set number of months, divide the amount by the number of months it covers:
MS = SA / P
Once the monthly equivalent is known, the annual, weekly, and hourly equivalents follow directly from it:
AS = MS * 12 WS = AS / 52 HS = AS / (52 * HW)
Variables:
- MS is the monthly stipend equivalent ($/month)
- SA is the stipend amount you receive ($)
- P is the number of months the stipend covers: 1 for monthly, 3 for quarterly, 12 for annual, about 4.5 for a typical semester, or however many months a one-time payment must last. For a weekly stipend, MS = SA * 52 / 12
- AS is the annual stipend equivalent ($/yr)
- WS is the weekly stipend equivalent ($/wk)
- HS is the hourly equivalent ($/hr)
- HW is the hours per week attached to the stipend, commonly about 20 for graduate assistantships and 40 for full-time internships
Pick what you want to find at the top of the calculator. In “Convert my stipend” mode you enter the stipend amount and how often it is paid, and the tool returns the monthly, annual, weekly, and hourly equivalents. In “Stipend needed for a target” mode you enter the monthly amount you need to live on and the tool returns the stipend required per period; if you set the optional estimated tax rate, it grosses the figure up so the after-tax amount still meets your target.
A stipend is a fixed sum paid to support someone while they train, study, or complete a program, rather than wages tied to hours worked. Common examples include graduate assistantship and PhD stipends, internship stipends, medical residency and fellowship awards, and travel or housing stipends that offset specific costs.
Stipends differ from salaries in two ways that matter for budgeting. First, most stipends are paid with little or no tax withholding, so recipients often need to set money aside and make quarterly estimated tax payments. Second, stipends usually come without benefits such as employer health insurance or retirement matching, so the headline number has to stretch further than the same salary would.
Common Stipend Amounts
This table converts common annual stipend amounts into their monthly equivalents and the hourly equivalent at 20 hours per week, which is the typical commitment for a graduate assistantship.
| Annual stipend | Monthly equivalent | Hourly at 20 h/wk |
|---|---|---|
| $18,000 | $1,500.00 | $17.31 |
| $21,000 | $1,750.00 | $20.19 |
| $24,000 | $2,000.00 | $23.08 |
| $27,000 | $2,250.00 | $25.96 |
| $30,000 | $2,500.00 | $28.85 |
| $32,000 | $2,666.67 | $30.77 |
| $36,000 | $3,000.00 | $34.62 |
| $40,000 | $3,333.33 | $38.46 |
| $45,000 | $3,750.00 | $43.27 |
If your stipend is quoted per month, this second table shows the annual and weekly equivalents for common monthly amounts.
| Monthly stipend | Annual equivalent | Weekly equivalent |
|---|---|---|
| $1,500 | $18,000 | $346.15 |
| $1,750 | $21,000 | $403.85 |
| $2,000 | $24,000 | $461.54 |
| $2,250 | $27,000 | $519.23 |
| $2,500 | $30,000 | $576.92 |
| $3,000 | $36,000 | $692.31 |
| $3,500 | $42,000 | $807.69 |
| $4,000 | $48,000 | $923.08 |
Example Problems
Example 1: Convert an annual PhD stipend.
You receive a $32,000 per year PhD stipend and your assistantship expects about 20 hours per week. First find the monthly equivalent:
MS = 32,000 / 12 = $2,666.67 per month.
The weekly equivalent is 32,000 / 52 = $615.38, and the hourly equivalent is HS = 32,000 / (52 * 20) = 32,000 / 1,040 = $30.77 per hour.
Example 2: Convert a semester stipend.
A teaching assistantship pays $9,000 for a semester that runs about 4.5 months. The monthly equivalent is:
MS = 9,000 / 4.5 = $2,000.00 per month.
Annualized, that is 2,000 * 12 = $24,000 per year, or 24,000 / 52 = $461.54 per week, and at 20 hours per week the hourly equivalent is 24,000 / 1,040 = $23.08 per hour.
Frequently Asked Questions
Are stipends taxable?
Generally yes. In the US, stipend income is usually taxable as ordinary income, but most payers do not run it through payroll, so nothing is withheld and recipients may need to make quarterly estimated tax payments to avoid penalties. One common exception is a qualified scholarship or fellowship used for tuition and required fees for a degree candidate, which can be tax-free; the portion that pays for living expenses, or that compensates for teaching or research services, remains taxable.
Is a stipend the same as a salary?
No. A salary is wages paid for employment, with payroll tax withholding and typically benefits such as health insurance and retirement contributions. A stipend is a fixed allowance meant to support training, study, or specific costs like travel or housing. It is usually paid without withholding, rarely comes with benefits, and is often not tied to a set number of hours, which is why converting it to monthly and hourly equivalents is useful for comparing offers.
How do I convert a stipend to an hourly rate?
Annualize the stipend first, then divide by 52 weeks times your weekly hours. For example, a $32,000 annual stipend at 20 hours per week works out to 32,000 / (52 * 20) = $30.77 per hour, while the same stipend at 40 hours per week is $15.38 per hour. Use the hours your program actually expects, since that is what determines the true hourly value.
