Salary Calculator
Convert between hourly, weekly, monthly, and annual pay rates. Calculate your take-home pay and compare different compensation structures.
Salary Breakdown
Overtime & Total Comp
Salary Comparison
Understanding Salary Calculations
Salary calculations can be complex when different pay frequencies, overtime, and benefits are involved. Understanding how to convert between different pay structures is essential for comparing job offers and managing your finances effectively.
Common Pay Frequencies
| Pay Frequency | Pay Periods per Year | Typical Use |
|---|---|---|
| Hourly | 2080 (40 hrs × 52 weeks) | Part-time, hourly workers |
| Weekly | 52 | Some hourly and salaried positions |
| Bi-weekly | 26 | Most common for salaried employees |
| Semi-monthly | 24 | Government and some private sector jobs |
| Monthly | 12 | Executives, some professionals |
| Annual | 1 | Salary quotes, contracts |
Overtime Calculations
Overtime pay is typically calculated at 1.5 times the regular hourly rate for hours worked over 40 in a workweek (under FLSA guidelines). Some states and localities have different rules.
Overtime Formula:
Overtime Pay = (Regular Hourly Rate × 1.5) × Overtime Hours
Benefits and Total Compensation
When comparing job offers, consider the total compensation package, not just base salary. Benefits can add significant value to your overall compensation.
- Health Insurance: Employer-sponsored medical, dental, and vision coverage
- Retirement Contributions: 401(k) matching, pensions
- Paid Time Off: Vacation, sick leave, holidays
- Professional Development: Training, conferences, certifications
- Other Perks: Gym memberships, commuter benefits, stock options
Salary Negotiation Tips
Research Market Rates
- Use salary comparison tools
- Check industry surveys
- Consider cost of living differences
Consider Total Package
- Evaluate benefits value
- Factor in work-life balance
- Think about growth opportunities
Timing Matters
- Know your worth before interviews
- Don't discuss salary too early
- Be prepared to negotiate
Document Everything
- Get offers in writing
- Understand job responsibilities
- Clarify performance expectations
Key Takeaways
- Always calculate your hourly equivalent when comparing jobs
- Consider total compensation, not just base salary
- Understand overtime rules and how they affect your pay
- Research market rates for your position and location
- Factor in benefits when evaluating job offers