Rate of Pay Calculator

Calculate your earnings across all pay periods

💼 Enter Your Pay Information

$

Your hourly pay rate

Standard is 40 hours

💰 Your Pay Rates

Hourly Rateper hour
$15.00
40.0 hours/week
Daily Rateper day
$120.00
8.0 hours/day
Weekly Rateper week
$600.00
52 weeks/year
Biweekly Rateper 2 weeks
$1,200.00
80 hours/biweek
Monthly Rateper month
$2,600.00
173 hours/month
Annual Salaryper year
$31,200.00
2,080 hours/year

⏰ Overtime Pay Rate

Regular Rate
$15.00
Standard hourly wage
Overtime Rate (1.5×)
$22.50
For hours over 40/week

Regular Rate: Paid for hours worked up to 40 hours per week (or 8 hours per day in some states)

Overtime Rate: Typically 1.5× your regular rate for hours beyond the standard threshold

Example: If you work 45 hours in a week, you'd earn $600.00 for the first 40 hours plus $112.50 for 5 overtime hours

Example Calculation

Given Information

Hourly Wage: $15.00 per hour

Hours Per Week: 40 hours

Calculation Formulas

Daily = Hourly × (Hours/Week ÷ 5) = $15 × (40 ÷ 5) = $120.00

Weekly = Hourly × Hours/Week = $15 × 40 = $600.00

Biweekly = Hourly × Hours/Week × 2 = $15 × 40 × 2 = $1,200.00

Monthly = Hourly × Hours/Week × 52 ÷ 12 = $15 × 40 × 52 ÷ 12 = $2,600.00

Yearly = Hourly × Hours/Week × 52 = $15 × 40 × 52 = $31,200.00

📐 Quick Formulas

Daily Pay
Hourly × (Hours/Week ÷ 5)
Weekly Pay
Hourly × Hours/Week
Biweekly Pay
Hourly × Hours/Week × 2
Monthly Pay
Hourly × Hours/Week × 52 ÷ 12
Yearly Pay
Hourly × Hours/Week × 52

💵 Example Pay Rates (40 hrs/week)

$12/hr$24,960/yr
$15/hr$31,200/yr
$20/hr$41,600/yr
$25/hr$52,000/yr
$30/hr$62,400/yr
$50/hr$104,000/yr

💡 Pay Period Tips

Most employers pay weekly, biweekly, or semi-monthly

Biweekly = 26 paychecks per year

Semi-monthly = 24 paychecks per year

Overtime is typically 1.5× regular rate

Calculate net pay after taxes and deductions

Understanding Rate of Pay

What is Rate of Pay?

The rate of pay is the amount of money an employee or freelancer receives for their work in a given time frame. It represents your compensation calculated across different pay periods.

  • Hourly Rate: Base wage paid per hour worked
  • Weekly Rate: Total earnings for a standard work week
  • Annual Salary: Total yearly compensation before taxes

Why Calculate Different Pay Rates?

Understanding your pay across different time periods helps with budgeting and financial planning:

  • Budget Planning: Know your monthly income for bills
  • Job Comparison: Compare offers with different pay structures
  • Expense Tracking: Match income to expense frequency
  • Savings Goals: Calculate how much you can save per period

⚠️ Important Considerations

💡
Gross vs. Net Pay: These calculations show gross pay (before taxes and deductions). Your actual take-home pay will be lower after federal, state, and local taxes, plus benefits deductions.
💡
Overtime Pay: The rate of pay can include bonuses, commissions, and overtime. In the U.S., overtime is typically paid at 1.5× your regular rate for hours over 40 per week.
💡
Pay Period Variations: Some months have extra pay periods (e.g., 3 biweekly paychecks instead of 2), which affects monthly budgeting.

💼 Real-World Example

Question: What is your annual salary if you earn $23 per hour working 40 hours per week?

Calculation:

  • • Formula: Yearly = Hourly × Hours/Week × 52
  • • Calculation: $23 × 40 × 52
  • Answer: $47,840 per year

Breakdown: This equals $920/week, $1,840/biweekly, or approximately $3,987/month.