Annual Income 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.
Current Redwood City Deposit Interest Rates
We publish current Redwood City savings & CD rates. Savers can use the filters at the top of the table to adjust their initial deposit amount along with the type of account they are interested in: high interest savings, certificates of deposit, money market accounts and interest bearing checking accounts.
How Much Money do You Earn Each Year?
Each year has 52 weeks in it, which is equivalent to 52 weekly pay periods. Many employers give employees 2 weeks off between the year end holidays and a week of vacation during the summer. If you work 8 hours a day, 5 days a week & 50 weeks per year, that comes out to 2,000 hours per year. Quick conversion tips:
- Hourly to annual: Multiply your monthly salary by how many hours you work in a year. If you work 2,000 hours a year and make $25 per hour then you would add 4 zeros from the annual salary & multiply the result by 2 to get $50,000 per year.
- Weekly to annual: To convert weekly income to annual income multiply your weekly salary by how many weeks you work per year.
- Weekly to hourly: Divide your weekly income by how many hours you typically work in a week. For example, if you work 8 hours a day & 5 days a week that is 40 hours per week. So if you make $1,000 a week that would be $25 per hour.
The following table lists the pre-tax & post tax annual income associated with a 2,000 hour work year at various wage levels. For sake of simplicity this table presumes a flat 25% income tax rate across all income levels, though actual marginal tax rates depend on a variety of factors including income level, charitable contributions, marital status & other family-related factors.
| Hourly Wage | Pretax Annual Income | Income Tax | After Tax Annual Income |
|---|---|---|---|
| $5.00 | $10,000 | $2,500 | $7,500 |
| $10.00 | $20,000 | $5,000 | $15,000 |
| $15.00 | $30,000 | $7,500 | $22,500 |
| $20.00 | $40,000 | $10,000 | $30,000 |
| $25.00 | $50,000 | $12,500 | $37,500 |
| $30.00 | $60,000 | $15,000 | $45,000 |
| $35.00 | $70,000 | $17,500 | $52,500 |
| $40.00 | $80,000 | $20,000 | $60,000 |
| $45.00 | $90,000 | $22,500 | $67,500 |
| $50.00 | $100,000 | $25,000 | $75,000 |
| $60.00 | $120,000 | $30,000 | $90,000 |
| $75.00 | $150,000 | $37,500 | $112,500 |
| $100.00 | $200,000 | $50,000 | $150,000 |
| $125.00 | $250,000 | $62,500 | $187,500 |
| $250.00 | $500,000 | $125,000 | $375,000 |
| $375.00 | $750,000 | $187,500 | $562,500 |
| $500.00 | $1,000,000 | $250,000 | $750,000 |
