Annual to Monthly/Weekly/Daily Converter

Salary and Income Conversion: Annual, Monthly, Weekly, and Hourly

Understanding how your income breaks down across different time periods is essential for budgeting, comparing job offers, setting freelance rates, and planning expenses. Whether you earn an annual salary, are paid bi-weekly, or charge an hourly rate, this converter instantly shows you the equivalent amount across all common pay periods.

Why Convert Between Pay Periods?

Different financial decisions require different perspectives on your income. Your rent is monthly, your paycheck might be bi-weekly, and your side hustle pays hourly. Converting between these periods helps you:

• Compare job offers: A $75,000 salary versus a $38/hour contract role. Which pays more? This converter makes the comparison instant.
• Set freelance rates: If you want to match a $90,000 salary, you need to charge at least $43.27/hour (at 40 hours/week), and likely more to cover self-employment taxes, benefits, and unpaid time off.
• Budget accurately: Knowing your daily income helps you evaluate whether that $15 daily coffee habit is 0.5% or 5% of your daily earnings.
• Plan for expenses: Convert monthly bills to annual figures to see their true yearly impact on your finances.

Standard Conversion Assumptions

This calculator uses standard payroll assumptions used by most employers and financial planners:

• 12 months per year for monthly pay
• 26 pay periods per year for bi-weekly pay (every two weeks)
• 52 weeks per year for weekly pay
• 260 working days per year (52 weeks × 5 days) for daily pay
• 2,080 hours per year at 40 hours/week (adjustable) for hourly pay

Note that bi-weekly pay (every two weeks, 26 times per year) is different from semi-monthly pay (twice per month, 24 times per year). If you are paid semi-monthly, multiply your paycheck by 24 instead of 26 for the annual amount.

Hourly Rate and Hours Per Week

The hours-per-week setting matters significantly for hourly conversions. A $50,000 annual salary translates to $24.04/hour at 40 hours per week, but only $19.23/hour if you actually work 50 hours per week. For salaried employees who regularly work overtime, adjusting the hours per week gives a more accurate picture of your true hourly compensation.

For Freelancers and Contractors

If you are transitioning from salaried employment to freelancing, remember that your hourly rate needs to cover more than just your take-home pay. Factor in self-employment tax (15.3%), health insurance, retirement contributions, paid time off you will forgo, and business expenses. A common rule of thumb is to charge 1.25x to 1.5x the equivalent hourly rate of the salary you want to replace.