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Annual Income Calculator

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Your Results

Earning $34.00 an hour for 40 hours a week comes to $70,720.00 a year before tax. That's $5,893.33 a month or $1,360.00 a week on average. At a 15% tax rate you'd take home about $60,112.00 a year, or $5,009.33 a month.

$70,720.00
Annual income before tax
$60,112.00
Take-Home per Year
$5,893.33
Monthly Before Tax
$5,009.33
Monthly Take-Home
$10,608.00
Tax per Year

Where a full year's pay goes

Pay by Period
Pay PeriodBefore TaxAfter Tax
Yearly$70,720.00$70,720$60,112.00$60,112
Monthly$5,893.33$5,893$5,009.33$5,009
Twice a month$2,946.67$2,947$2,504.67$2,505
Every two weeks$2,720.00$2,720$2,312.00$2,312
Weekly$1,360.00$1,360$1,156.00$1,156
Daily$272.00$272$231.20$231
Hourly$34.00$34$28.90$29

Each row is the annual income spread evenly over the year: ÷ 12 for a month, ÷ 52 for a week, ÷ 260 days and ÷ 2,080 hours. Your pay period is highlighted.

What Is Annual Income?

Annual income is what you earn in a year. Pay is often quoted by the hour, the week or the month, so turning it into a yearly salary makes jobs and offers easy to compare, and it's the number lenders and landlords usually ask for.

  • Gross income: your pay before tax and other deductions. Job offers and salaries are usually quoted this way.
  • Net income, or take-home pay: what reaches your bank account after taxes, retirement savings, insurance and other deductions.
  • Unpaid time: weeks you don't work and don't get paid lower your annual income. Paid vacation and holidays don't.

Which calculator should I use?

  • Annual Income Calculator: to turn any pay rate into yearly, monthly, weekly, daily and hourly pay, before and after tax.
  • Hourly to Salary Calculator: to convert an hourly wage to a yearly salary, before tax.
  • Salary to Hourly Calculator: to turn a salary into an hourly rate, including what you earn per hour actually worked.
  • Work Hours Calculator: to add up the hours on your time card for a week, with overtime and pay.
  • Hours Calculator: to find the hours and minutes between two times.

How to Calculate Annual Income

For hourly pay, multiply the rate by the hours you work in a week and by the weeks you're paid in a year:

Annual income=rate×hours a week×paid weeks

Then take off tax to see your take-home pay:

Take-home=annual income×(1−tax rate)
  • Rate: your hourly pay. For other periods, multiply by how many there are in a year: 52 weeks, 26 paydays every two weeks, 24 twice a month, or 12 months.
  • Hours a week: the hours you're paid for in a normal week, often 40 for full-time work.
  • Paid weeks: 52, minus any unpaid weeks off.
  • Tax rate: your total tax and deductions as a share of pay, written as a decimal, so 15% is 0.15.

Example

Earning $34.00 an hour for 40 hours a week:

  • Annual income: $34.00 × 40 × 52 = $70,720.00
  • Per month: $70,720.00 ÷ 12 = $5,893.33
  • Take-home at 15%: $70,720.00 × 0.15 tax = $10,608.00, leaving $60,112.00
  • With 2 unpaid weeks off: $34.00 × 40 × 50 = $68,000.00

A quick rule: with a 40-hour week, the yearly salary is about 2,000 times the hourly rate, so $25 an hour is about $50,000 a year (exactly $52,000 over 52 weeks).

How to Use the Annual Income Calculator

"I earn $34.00 an hour for 40 hours a week. What's that a year and a month, and what will I take home?" This calculator answers that.

Let's enter the numbers for this example in each box. They are already filled in when the calculator opens, so you can follow along and then change any box to match your own pay.

  • Pay Amount: Enter 34.00, which is your pay for one pay period. It can be 0 or more, up to $1 billion.
  • Pay Period: Choose Hourly. You can also choose Daily, Weekly, Every two weeks, Twice a month, Monthly or Yearly, to match how your pay is quoted.
  • Hours per Week: Enter 40, which is the hours you work in a normal week. It's used for hourly pay and for the hourly row in the breakdown. Up to 168.
  • Days per Week: Enter 5, which is the days you work in a normal week. It's used for daily pay and the daily row. Up to 7.
  • Unpaid Weeks Off: Enter 0, which is the weeks in the year you aren't paid. From 0 to 52.
  • Tax Rate: Enter 15, which is the share of your pay that goes to taxes and deductions. From 0% to 100%.

Calculate and Reset

Click Calculate to see your results. If a box has a problem, such as more than 7 days in a week, a message pops up under that box instead. With the default numbers you get:

  • Your Results: a short summary in words: $70,720.00 a year before tax, $5,893.33 a month, and $60,112.00 take-home pay.
  • Annual Income Before Tax: the headline, $70,720.00.
  • Take-Home per Year: $60,112.00, what's left after tax at 15%.
  • Monthly Before Tax and Monthly Take-Home: $5,893.33 and $5,009.33.
  • Tax per Year: $10,608.00.
  • Where a full year's pay goes: a ring chart of take-home pay and tax, plus the pay given up when there are unpaid weeks.
  • Pay by Period: your income per year, month, twice a month, two weeks, week, day and hour, before and after tax. Download Excel saves it with the formulas.
  • Share Results: a link that opens this calculator with your numbers filled in. Copy it, or share it on Facebook or X.

Click Reset to put every box back to its default and show the default results again. The calculator uses a single tax rate; real taxes depend on brackets, credits and where you live, so check a paycheck for your actual deductions. This is for information only, not financial or tax advice.