Monthly Paycheck Calculator
This calculator will help you to quickly convert a wage stated in one periodic term (hourly, weekly, etc.) into its equivalent stated in all other common periodic terms. This can be helpful when comparing your present wage to a wage being offered by a prospective employer where each wage is stated in a different periodic term (e.g., one is listed as an hourly wage and the other is listed as annually).
Simply enter a wage, select it's periodic term from the pull-down menu, enter the number of hours per week the wage is based on, and click on the "Convert Wage" button.
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How Much Will Your Monthly Pay Be?
Historically the most common work schedule for employees across the United States is an 8-hour day with 5-days per week. If you work 40 hours a week then converting your hourly wage into the weekly equivalent is easy as you would simply multiple it by 40, which means adding a zero behind the hourly rate & then multiplying that number by 4. Most months have slightly more than 4 weeks in them. January,March,May,July,August,October, andDecember have 31 days, while February,April,June,September, and November have 30 days. February typically has 28 days except on leap years when it has 29 days.
- Paid by hour: If you get paid by the hour each month, you could look at the calendar to subtract any holidays or time off & then multiply your hours per day by how many work days there are in the month to get your total work hours & then multiply this by your stated wage to come up with your estimated monthly pay. For example, if you are paid $20 an hour & there are 21 work days in the month and you work 8 hours per day that would be 188 work hours. Multiply 188 by a stated wage of $20 and you get $3,760.
- Paid a flat rate: If your monthly pay is flat based on an annual salary then you would simply divide the salary by 12 to come up with the equivalent monthly wages. If you are paid $60,000 a year then divide that by 12 to get $5,000 per month. If you know you work 40 hours a week for 50 weeks a year then you would multiply the hourly stated wage by 2,000 to get the annual total & then divide by 12 to get the monthly equivalent.
The following table lists flat monthly incomes based on a 2,000 hour work year for a range of stated wages. While individuals are taxed at various rates depending on their incomes, family living conditions, charitable donations, etc. the following example table uses a flat 25% income tax rate for sake of simplicity.
| Hourly | Pre-tax | Tax | After Tax |
|---|---|---|---|
| $5.00 | $833.33 | $150.00 | $625.00 |
| $7.25 | $1,208.33 | $217.50 | $906.25 |
| $10.00 | $1,666.67 | $416.67 | $1,250.00 |
| $15.00 | $2,500.00 | $625.00 | $1,875.00 |
| $20.00 | $3,333.33 | $833.33 | $2,500.00 |
| $25.00 | $4,166.67 | $1,041.67 | $3,125.00 |
| $30.00 | $5,000.00 | $1,250.00 | $3,750.00 |
| $35.00 | $5,833.33 | $1,458.33 | $4,375.00 |
| $40.00 | $6,666.67 | $1,666.67 | $5,000.00 |
| $45.00 | $7,500.00 | $1,875.00 | $5,625.00 |
| $50.00 | $8,333.33 | $2,083.33 | $6,250.00 |
| $75.00 | $12,500.00 | $3,125.00 | $9,375.00 |
| $100.00 | $16,666.67 | $4,166.67 | $12,500.00 |
| $250.00 | $41,666.67 | $10,416.67 | $31,250.00 |
| $500.00 | $83,333.33 | $20,833.33 | $62,500.00 |
| $1,000.00 | $166,666.67 | $41,666.67 | $125,000.00 |
