Convert any hourly wage to annual salary, monthly pay, bi-weekly, and weekly take-home amounts. Also works in reverse — convert salary to hourly.
The formula is: Annual Salary = Hourly Rate × Hours Per Week × Weeks Per Year. For a standard full-time worker: $20/hour × 40 hours × 52 weeks = $41,600/year. If you get 2 weeks unpaid vacation, use 50 weeks: $20 × 40 × 50 = $40,000.
At $15/hour working 40 hours a week for 52 weeks, you'd earn $31,200/year. Working 50 weeks (accounting for 2 weeks off) gives $30,000. Your take-home pay would be less after taxes — typically around $25,000–$27,000 depending on your state and filing status.
$60,000 ÷ 52 weeks ÷ 40 hours = $28.85/hour. Another quick way: divide your annual salary by 2,080 (the standard full-time work hours per year). $60,000 ÷ 2,080 = $28.85/hour.