Annual Income Calculator
If you'd like to quickly determine your yearly salary, use our annual income calculator. It can also figure out an hourly rate, which may be useful when looking through job offers. The tool can serve as an annual net income calculator or as a gross annual income calculator, depending on what you want.
How to Use the Annual Income Calculator
Effortlessly calculate your annual income and understand your net salary after taxes:
- Select your currency — choose from 30 world currencies including USD, EUR, GBP, CAD, AUD, and more.
- Enter your hourly wage — input the amount you earn per hour.
- Input weekly working hours — enter the number of hours you work per week (standard full-time is 40 hours).
- Enter working weeks per year — input how many weeks per year you work. Don't forget to adjust for any unpaid leave or holidays (maximum 52).
- Specify your tax rate (optional) — enter your tax rate percentage to see your net salary after taxes. Leave at 0 if you only want gross income.
- Click "Calculate Annual Income" — the calculator will instantly display your gross and net income across all pay periods.
For example, if your hourly wage is $34, you work 40 hours per week, and 52 weeks per year, your annual income would be $70,720. If you are taxed at 12%, your net annual income would come to $62,233.60.
How to Calculate Annual Income by Hand
The formula for annual income is:
Annual Income = Hourly Wage × Hours per Week × Weeks per Year
If you want to do it without the yearly salary income calculator, substitute your numbers into this formula. If you know your annual income and want to determine what your hourly wage is, rearrange the formula:
Hourly Wage = Annual Income ÷ (Hours per Week × Weeks per Year)
What Is Gross Annual Income? What Is Net Annual Income?
"Annual" means yearly, and "income" means profit — the money earned or received. Therefore, annual income means the amount of money obtained during a year.
- Gross annual income — income before taxes and deductions. This is the amount your employer spends on you in a year.
- Net annual income — income after deducting taxes. This is what you actually receive in your bank account (take-home pay).
Gross Annual Income Calculator
Gross income is money before taxation. The first fields of this yearly salary calculator serve as a gross annual income calculator. Enter your hourly wage, hours per week, and weeks per year — the result will show your gross annual income. Leave the tax rate field at 0%.
Annual Net Income Calculator
To calculate net income, enter your tax rate percentage in the "Tax Rate" field. The calculator will automatically deduct taxes from your gross annual income and display the net (take-home) salary for each pay period: annually, monthly, weekly, daily, and hourly.
The net income formula:
Net Annual Income = Gross Annual Income × (1 − Tax Rate / 100)
How to Find Annual Income – Examples
Example 1: Full-time employee (US)
- Hourly wage: $25/hour
- Hours per week: 40
- Weeks per year: 52
- Gross annual income: $52,000
- Tax rate: 22%
- Net annual income: $40,560
Example 2: Part-time worker
- Hourly wage: £15/hour
- Hours per week: 20
- Weeks per year: 48 (adjusting for 4 weeks unpaid leave)
- Gross annual income: £14,400
Example 3: Contractor (metric system)
- Hourly rate: €45/hour
- Hours per week: 37.5 (standard European work week)
- Weeks per year: 47 (minus 5 weeks vacation)
- Gross annual income: €79,312.50
- Tax rate: 30%
- Net annual income: €55,518.75
American vs. Metric System for Work Hours
This calculator supports both common work-week standards:
- American system: Standard full-time work week of 40 hours (8 hours/day × 5 days), 52 weeks per year. Many US jobs also offer paid time off, so 50 working weeks is common.
- European / Metric system: Many European countries have a standard work week of 35–38 hours, with 4–6 weeks paid vacation, resulting in approximately 46–48 working weeks per year.
Simply adjust the "Hours per Week" and "Weeks per Year" fields to match your work schedule.
Other Ways to Use the Yearly Salary Calculator
- Compare job offers: Convert hourly rates to annual salaries to compare positions fairly.
- Budget planning: Knowing your net annual income helps you plan a realistic monthly budget.
- Freelance rate setting: Calculate how much you need to charge per hour to reach your desired annual income.
- Multi-currency comparison: Use 30 supported currencies to compare salaries across countries.
- Retirement planning: Understand your gross vs. net income to better plan savings contributions.
- Tax bracket awareness: Once you've calculated your annual income, check which tax bracket you fall into.
Frequently Asked Questions (FAQ)
What is annual income?
Annual income is the total amount of money you earn or receive in one year. It can refer to gross (before tax) or net (after tax) income depending on context.
How many working weeks are in a year?
A full year has 52 weeks. A typical full-time employee in the US works about 50 weeks (subtracting 2 weeks vacation). Many European employees work 46–48 weeks after accounting for public holidays and vacation time.
What is the difference between salary and hourly wage?
A salaried employee receives a fixed annual amount regardless of exact hours worked. An hourly employee is paid a set rate for each hour worked. Use this calculator to convert between the two.
How do I calculate my annual income if I have multiple income sources?
Calculate each income source separately using the appropriate formula, then add them together to get your total gross annual income.
Is annual income the same as annual salary?
Annual salary typically refers specifically to employment income. Annual income is broader — it can include salary, freelance earnings, investment income, rental income, and other sources.