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Convert a monthly salary into an hourly rate based on your working hours per week and weeks worked per year.
This calculator is useful if you are paid monthly and want to compare that income to an hourly rate, freelance rate, contractor rate, or consulting rate.
To convert a monthly salary into an hourly rate, first estimate your total working hours for the year. Then divide your annual salary by those annual working hours.
This calculator does that by multiplying your monthly salary by 12, then dividing by your estimated annual working hours.
The basic formula is:
Hourly rate = (monthly salary × 12) ÷ (hours per week × weeks per year)
If you earn $3,000 per month, work 40 hours per week, and work 48 weeks per year, your annual salary is $36,000 and your estimated hourly rate is $18.75.
If you are comparing monthly salary to freelance or consulting work, remember that an employee-equivalent hourly rate is not the same as a freelance hourly rate. Freelancers usually need to charge more to cover taxes, expenses, unpaid admin time, sick days, time off, and gaps between clients.
Use this calculator as a starting point. If you are self-employed, compare the result with a freelance rate calculator before setting your actual client rate.