How the annual income calculator works
Choose hourly or salary, enter your regular pay, then add your average overtime and any yearly bonuses, commission, tips, or income from other work. The result is gross annual income, the figure most applications ask for. Read how to calculate annual income for how to handle variable pay, and see gross pay vs net pay for what comes out of it.
Annual income formula
Worked examples
$30.00 an hour, 40 hours, 52 weeks, 5 overtime hours a week, $1,000 bonus
- Base: $30.00 × 40 × 52 = $62,400.00.
- Overtime: $45.00 × 5 × 52 = $11,700.00.
- Total: $75,100.00, about $6,258.33 a month.
$60,000 salary with a $5,000 bonus
- Annual income: $65,000.00, or $5,416.67 a month.
Monthly to annual income
| Monthly | Annual | Biweekly equivalent | Weekly equivalent |
|---|---|---|---|
| $2,500 | $30,000 | $1,153.85 | $576.92 |
| $3,000 | $36,000 | $1,384.62 | $692.31 |
| $4,000 | $48,000 | $1,846.15 | $923.08 |
| $5,000 | $60,000 | $2,307.69 | $1,153.85 |
| $6,000 | $72,000 | $2,769.23 | $1,384.62 |
Frequently asked questions
How do I calculate my annual income?
Add up everything you earn in a year before taxes: base pay, overtime, bonuses, commission, tips, and other work income. For hourly work, base pay is rate × weekly hours × paid weeks.
Is annual income gross or net?
Forms usually ask for gross annual income, before taxes and deductions. This calculator shows gross income. Follow the instructions on the form you are filling in.
How do I convert monthly income to annual?
Multiply by 12. $4,000 a month is $48,000 a year. Biweekly pay is multiplied by 26, and semimonthly by 24.
How should I count overtime that varies?
Use your average weekly overtime over a typical period, such as the last few months. Some lenders and agencies average variable income over a set time; follow their rules when they give them.
What is the difference between this and the hourly to salary calculator?
The hourly to salary calculator converts one rate into pay periods. This calculator adds several income sources, including overtime, bonuses, commission, and tips, into one yearly total.
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How this calculator was built. The formula, defaults, and edge cases are documented in a research record and covered by automated tests. It estimates gross amounts from your inputs; it does not determine legal entitlements, taxes, or take-home pay. Read our methodology and disclaimer.
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