Salary Calculator
Convert your hourly wage to annual salary, or vice versa.
Income Details
Annual Salary
$
Paycheck Estimate (Gross)
Monthly$
Bi-Weekly$
Weekly$
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Gross vs. Net Pay
The number on your offer letter is your Gross Pay. However, what actually hits your bank account is your Net Pay.
Where Does the Money Go?
A typical paycheck has several deductions before it reaches you:
- Federal Income Tax: The largest chunk for most people.
- FICA Taxes: Social Security (6.2%) and Medicare (1.45%).
- State & Local Taxes: Varies by location.
- Benefits: Health insurance premiums, 401(k) contributions, etc.
Hourly vs. Salary
Salaried employees often have more predictable income but may work unpaid overtime. Hourly employees get paid for every hour worked (often with 1.5x for overtime), but hours can fluctuate week to week.