Hourly Wage Calculator

Whether you're switching jobs, budgeting for self-employment, or just curious, knowing your hourly wage can help you better understand the value of your time. It’s one of the most useful metrics for comparing different income types, especially if you're juggling multiple gigs or projects.

Good news: it only takes a few seconds to convert your annual salary to an hourly wage using our free calculator below.

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How to Calculate Your Hourly Wage

To figure out your hourly wage manually, use this simple formula:

Hourly Wage = Annual Salary / (Hours per Week x Weeks per Year)

For example:

• $60,000 per year
• 40 hours per week
• 52 weeks per year

60,000 / (40 x 52) = $28.85/hour

This formula is especially helpful if:

• You’re comparing a W2 job to a 1099 gig
• You're billing clients hourly
• You want to set freelance project rates that match your income goals

Salary Calculator Examples

80k a year is how much an hour

Here’s how you can break it down:

1. Determine the number of hours worked per week: 40 hours.
2. Calculate the number of weeks worked in a year: 52 weeks.
3. Multiply the two: 40 hours/week * 52 weeks/year = 2,080 hours/year.
4. Now, divide the annual salary by the total hours: $80,000 / 2,080 hours = $38.46/hour.

So, if you earn $80,000 a year, you make approximately $38.46 an hour. This is a straightforward calculation, but it’s important to consider other factors that can affect your actual earnings.

$60K a year is how much an hour?

Here’s how you can break it down:

• Determine the number of hours worked per week: 40 hours.
• Calculate the number of weeks worked in a year: 52 weeks.
• Multiply the two: 40 hours/week * 52 weeks/year = 2,080 hours/year.
• Now, divide the annual salary by the total hours: $60,000 / 2,080 hours = $28.85/hour.
  

So, if you earn $60,000 a year, you make approximately $28.85 an hour. This is a straightforward calculation, but it’s important to consider other factors that can affect your actual earnings.

$50K a year is how much an hour?

Here’s how you can break it down:

• Determine the number of hours worked per week: 40 hours
• Calculate the number of weeks worked in a year: 52 weeks
• Multiply the two: 40 hours/week * 52 weeks/year = 2,080 hours/year
• Now, divide the annual salary by the total hours: $50,000 / 2,080 hours = $24.04/hour
  

So, if you earn $50,000 a year, you make approximately $24.04 an hour. This is a simple calculation, but keep in mind that things like unpaid time off or overtime can affect your actual hourly earnings.

What’s the Average Work Year?

The standard assumptions for most wage calculators are:

• 40 hours per week
• 52 weeks per year (even though most people take some time off)

If you work part-time, take unpaid leave, or have seasonal work, you can adjust the hours or weeks in the calculator to reflect your real schedule.

Factors Influencing Hourly Wage

While the calculation gives you a basic idea, several factors can influence how much you actually take home. Here are some key considerations:

Overtime Pay

If you work more than 40 hours a week, you may be eligible for overtime pay. In the United States, overtime is typically paid at 1.5 times your regular hourly rate. For someone earning $80,000 a year, this means:

• Regular hourly rate: $38.46
• Overtime hourly rate: $57.69

This can significantly increase your overall earnings if you frequently work overtime.

Taxes and Deductions

Your take-home pay is also affected by taxes and other deductions. Depending on your location, federal, state, and local taxes can take a substantial bite out of your paycheck. In addition, deductions for health insurance, retirement contributions, and other benefits can also reduce your net income.

Benefits and Bonuses

Many jobs offer benefits that can add value beyond just the hourly wage. Health insurance, retirement plans, and paid time off can all contribute to your overall compensation package. Additionally, bonuses and commissions can further enhance your earnings, making it important to consider these factors when evaluating a job offer.

How Much Can You Make an Hour on Popular Gig Platforms?

Many people turn to gig platforms to supplement their income or as their primary source of earnings. Here's a breakdown of potential hourly earnings on some popular platforms:

Doordash: What does DoorDash pay? Dashers typically earn between $15-25 per hour, depending on location, time of day, and order volume. Urban areas and dinner rushes tend to yield higher earnings.

Uber: Uber drivers can earn on average $20-30 per hour before expenses. Earnings can increase substantially during surge pricing periods and in major metropolitan areas.

Lyft: Similar to Uber, Lyft drivers earnings can be approximately $20-30 per hour before accounting for vehicle expenses and maintenance.

Instacart: Shoppers can earn $15-20 per hour, with higher rates during peak times. Experienced shoppers who can complete orders quickly may earn on the higher end of this range.

Shipt: Shoppers typically make $16-22 per hour, with earnings depending heavily on efficiency, tips, and order complexity.

Thumbtack: As a skilled service marketplace, earnings vary widely based on your expertise. Professionals can charge anywhere from $25-100+ per hour depending on their skill set and local market rates.

Wag: Dog walkers on Wag can expect to earn $15-25 per hour, with potential for higher earnings when handling multiple dogs at once or offering specialized services.

Important considerations for gig work:

• These figures represent gross earnings before accounting for expenses
• Vehicle maintenance, gas, and insurance significantly impact net earnings for driving gigs
• Earnings fluctuate based on season, location, and demand
• Most platforms don't provide benefits like health insurance or paid time off
• Self-employment taxes will need to be paid on these earnings

When evaluating whether a gig platform is worth your time, remember to use the hourly wage formula from earlier to compare with traditional employment options.

Why Your Hourly Rate Matters

Understanding your hourly rate helps with:

• Budgeting and saving more effectively
• Deciding if a side hustle is worth your time
• Comparing freelance or contract gigs
• Calculating what to charge per project

Many self-employed people also use this number to evaluate tax deductions and track expenses accurately. (That’s where apps like Everlance come in handy!)