Hourly Rate Calculator
Calculate hourly rate based on annual salary and working time
Enter the amount of Annual salary you want to live comfortably. (unit: $)
How many hours do you want to work on working days?
How many days do you work every week?
How many annual public holidays do you want to include? (apart from weekends)
You may calculate the hourly rate you must charge based on your estimated annual salary and working time using our Hourly Rate Calculator (including holidays). This calculator may be used to calculate your hourly freelance rate or to convert your annual pay into an hourly wage.
Determining your hourly rate as a freelancer might determine how much money you make in a year. It's preferable to plan ahead and use this calculator to figure out how much of an hourly rate you'll need to earn a decent annual pay.
You may want to account for your expenses, medical coverage, and savings in order to get a good annual pay.
The following is a breakdown of the various components as well as the formula for calculating the Hourly Rate and wages:
- Dream Annual Salary = The amount of money you'd want to make every year to live comfortably.
- Work Hours Per Day = The amount of hours you want to work during the week.
- Weekly Working Days = The number of days per week that you work.
- Holidays Per Year = The number of annual public working holidays that your country provides (apart from weekends).
Based on the total working hours in a year, the hourly rate is computed for a specific yearly salary. Total working hours are calculated using the number of working days (excluding holidays and weekends) and the number of work hours per day.
Working Weeks = (365 - Holidays Per Year) / 7 Total Work Hours = Working Weeks * Working Days in a Week * Work Hours Per Day
Hourly Rate = Desired Annual Salary / Total Work Hours
There are alternative methods for calculating the hourly rate, but this method is the most appropriate because it includes both annual paid and public holidays.
- An hourly rate can be calculated using your desired annual compensation, work hours per day, working days per week, and annual holidays.
- Your hourly rate will be determined in real-time based on the specified information.
- We'll provide hourly, weekly, monthly, and annual wages calculated using the hourly rate.
- There is no currency utilized, so you can use whichever currency you choose to compute your hourly wage in.
- For the calculations, please refer to the formula described in the next section.