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
⏰ Overtime Pay Rate
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
💵 Example Pay Rates (40 hrs/week)
💡 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
💼 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.