Weekly Pay Calculation:
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The weekly pay calculation estimates your gross paycheck based on hourly wage and hours worked per week. It provides a simple way to project your earnings before taxes and deductions.
The calculator uses the basic weekly pay equation:
Where:
Explanation: This straightforward multiplication gives your gross weekly earnings before any deductions.
Details: Understanding your weekly gross pay helps with budgeting, financial planning, and comparing job offers. It's the foundation for calculating taxes and take-home pay.
Tips: Enter your hourly wage in dollars and cents, and your typical weekly hours. All values must be positive numbers (hours cannot exceed 168 per week).
Q1: Is this gross or net pay?
A: This calculates gross pay before taxes, insurance, retirement contributions, or other deductions.
Q2: Does this account for overtime?
A: No, this is a basic calculation. For overtime, you would need to calculate regular and overtime hours separately.
Q3: How accurate is this for salaried employees?
A: Not applicable - this is designed for hourly workers. Salaried employees would divide their annual salary by pay periods.
Q4: What about multiple jobs with different rates?
A: You would need to calculate each job separately and sum the results.
Q5: Can I use this for biweekly or monthly pay?
A: For biweekly, multiply by 2. For monthly, multiply weekly pay by 4.33 (average weeks per month).