Skip to main content
/
salaryhourlyPTOincome conversion
//// Career · Income Conversion

Hourly ↔ Salary Converter

Convert between hourly rate and annual salary — accounting for overtime, PTO, FICA, federal and state taxes. See your real take-home pay.

SE Tax Rate15.3%
QBI Deduction20%
Quarterly DeadlinesApr · Jun · Sep · Jan

Your hourly rate

$/hr
hrs
wks
days

Overtime & taxes

hrs
%
%

Equivalent annual salary

$70,000

50.0 effective working weeks (10 PTO days deducted)

Gross Annual

$70,000

Net Annual

$45,745

After 34.6% total tax

Monthly Take-Home

$3,812

Bi-Weekly Paycheck

$1,759

1

Effective working weeks

effectiveWeeks = weeksPerYear − (ptoDays / 5)

52 − (10 / 5)

= 50.0 weeks

2

Regular annual pay

regularPay = hourlyRate × hours/week × effectiveWeeks

$35.00/hr × 40 hrs × 50.0 wks

= $70,000

3

Gross annual pay

grossAnnual = regularPay

= $70,000

4

FICA tax (SS + Medicare)

FICA ≈ grossAnnual × 7.65%

$70,000 × 7.65%

= $5,355

Employee share: 6.2% Social Security + 1.45% Medicare

5

Total taxes

totalTax = FICA + federal + state

$5,355 + $15,400 + $3,500

= $24,255 (34.6% effective)

6

Net annual pay

netAnnual = grossAnnual − totalTax

$70,000 − $24,255

= $45,745

Key insight

After 35% effective taxes you keep 65% of gross — your real after-tax hourly rate is $22.87/hr. When comparing job offers, always convert everything to net annual or net hourly to see the true difference.

#ShowYourWork

What this means — net take-home comparison

$15/hr$30,000 gross / $1,634/mo
$15.00/hr
$19,605
$20/hr$40,000 gross / $2,178/mo
$20.00/hr
$26,140
Your Rate$70,000 gross / $3,812/mo
$35.00/hr
$45,745

All figures are estimates. FICA uses 2024 SS wage base ($168,600). Federal and state rates are your entered flat effective rates — actual tax liability depends on deductions and filing details.

You might also like

🧮

W-4 Withholding Optimizer

Have a W-2 job and 1099 side income? Find out exactly how much to add on W-4 line 4c to cover your 1099 tax without paying quarterly estimates. Shows total liability, withholding gap, safe harbor status, and recommended amount per paycheck.

Try it →

🧮

Contractor vs Employee Break-Even Calculator

What hourly rate do you need as a contractor to match your current W-2 salary? Enter your employer's exact benefits package (health, 401k match, PTO), expected contractor expenses, and billable hours to see your break-even rate and contractor premium.

Try it →

🧮

Vehicle Depreciation Calculator

Calculate your SE tax (15.3%), the ½ SE tax deduction, federal income tax by bracket, total annual tax bill, effective rate, take-home pay, and quarterly estimated payment. Every IRS formula step shown.

Try it →

You might also like

🧮

W-4 Withholding Optimizer

Have a W-2 job and 1099 side income? Find out exactly how much to add on W-4 line 4c to cover your 1099 tax without paying quarterly estimates. Shows total liability, withholding gap, safe harbor status, and recommended amount per paycheck.

Try it →

🧮

Contractor vs Employee Break-Even Calculator

What hourly rate do you need as a contractor to match your current W-2 salary? Enter your employer's exact benefits package (health, 401k match, PTO), expected contractor expenses, and billable hours to see your break-even rate and contractor premium.

Try it →

🧮

Vehicle Depreciation Calculator

Calculate your SE tax (15.3%), the ½ SE tax deduction, federal income tax by bracket, total annual tax bill, effective rate, take-home pay, and quarterly estimated payment. Every IRS formula step shown.

Try it →