Enter Your Pay Details
Formula Used
The calculator converts your pay into a yearly base amount, then adds overtime and extras:
- Base yearly income depends on your pay frequency (hourly, weekly, monthly, or yearly).
- Overtime = (Equivalent hourly rate × Overtime multiplier × Overtime hours/week × Paid weeks).
- Gross yearly income = Base + Overtime + Bonus + Commission + Allowances + Other.
- Taxable income = Gross − Pre-tax deductions.
- Estimated tax = Taxable income × (Tax rate ÷ 100).
- Net yearly income = Gross − Pre-tax deductions − Estimated tax − Post-tax deductions.
This is a planning estimate. Your real pay and taxes may vary by policy, region, and benefits.
How to Use This Calculator
- Select your pay frequency and enter the matching base pay.
- Set hours per week, days per week, and weeks per year.
- Add unpaid leave days to reduce your paid weeks.
- Enable overtime and enter overtime hours and multiplier.
- Include bonus, commission, allowances, and other income.
- Enter deductions and a tax rate to estimate net income.
- Click Calculate to view results and the graph.
- Use Download CSV or Download PDF after calculating.
Example Data Table
| Scenario | Base Pay | Schedule | Extras | Estimated Gross / Year |
|---|---|---|---|---|
| Hourly + Overtime | $25 hourly | 40 hrs/week, 52 weeks | 5 OT hrs/week at 1.5×, $1,500 bonus | $69,500 |
| Monthly Salary | $4,500 monthly | 12 months | $600 allowances, $0 OT | $54,600 |
| Weekly Pay | $1,100 weekly | 50 paid weeks | $2,000 commission | $57,000 |
Example totals are illustrative and depend on your selections.
Annual Income Guide
1) What “annual income” really means
Annual income is the total money you earn in a year before and after adjustments. Most people track both gross income (before taxes) and net income (after estimated tax and deductions). Seeing both helps compare jobs, plan savings, and set realistic monthly spending limits.
2) Converting your pay to a yearly base
A yearly base starts from your pay type and pay frequency. Hourly pay is converted using hours per week and paid weeks per year. Weekly, biweekly, monthly, and yearly pay are scaled to a 12‑month year so you can compare offers that use different schedules.
3) Overtime makes income non‑linear
Overtime is usually paid at a multiplier, such as 1.5× or 2×, which changes your annual total quickly. The calculator estimates overtime by converting your base pay into an equivalent hourly rate, then multiplying by overtime hours per week and the number of paid weeks you expect to work.
4) Bonuses, commissions, and allowances
Many roles include extra earnings beyond base pay. One‑time bonuses, recurring commissions, allowances, and other benefits can be added as yearly amounts. Keeping extras separate is useful because they may vary by performance, season, or company policy, while base pay is typically more stable.
5) Pre‑tax vs post‑tax deductions
Deductions change what you take home. Pre‑tax deductions reduce taxable income (often improving net pay), while post‑tax deductions happen after tax is applied. Examples include retirement contributions, insurance, loan payments, and savings transfers. Separating them clarifies why net pay differs from gross pay.
6) Estimating tax with a simple rate
Taxes can be complex, but a single effective rate is a quick planning tool. By applying a chosen percentage to taxable income, you get a reasonable estimate for budgeting. If your pay changes often, update the rate or compare “low”, “typical”, and “high” scenarios to stay conservative.
7) Turning results into a monthly plan
After you calculate annual totals, divide by 12 to create a monthly budget and by 52 for weekly planning. Consider setting targets such as 10–20% for savings, a fixed amount for essentials, and a buffer for irregular costs. Small adjustments in overtime, deductions, or tax rate can meaningfully shift net income.
FAQs
1) What should I enter for paid weeks per year?
Use the number of weeks you expect to be paid. Many full‑time roles are 52 weeks, but unpaid leave, seasonal work, or gaps can reduce this. If unsure, try 50–52 to see a realistic range.
2) How do I handle variable hours or shifts?
Enter an average hours per week based on recent schedules. If hours swing a lot, run two cases (low and high) and compare results. Planning with the lower case usually prevents budget surprises.
3) Does the overtime multiplier apply to all overtime?
The calculator applies one multiplier to all overtime hours you enter. If you have mixed rates (for example, some 1.5× and some 2×), run separate calculations and add the overtime totals together.
4) Are bonuses and commissions taxed differently?
They can be taxed or withheld differently depending on local rules and employer policy. Here they are included in gross income and then taxed using your chosen rate. For precision, use an effective rate that matches your real pay statements.
5) What’s the difference between pre‑tax and post‑tax deductions?
Pre‑tax deductions reduce taxable income before the tax estimate is applied. Post‑tax deductions are subtracted after tax. Separating them shows whether a deduction changes your estimated tax or only your final take‑home pay.
6) How accurate is the net annual income result?
It’s a planning estimate based on your inputs and a single tax rate. Accuracy improves when you use realistic paid weeks, average overtime, and an effective tax rate from your recent pay slips or annual summary.