How to Figure Out One's Yearly Salary

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Lots of jobs come with a straight price tag, and in-house employees of big firms know exactly what they make because they're salaried. But for wage earners, contract workers and the self-employed, it's not so simple. Here's a way to figure out to the best of your knowledge what that annual figure will be.

  • Figure out your weekly earnings. If you don't already have this estimate stored in your head, collect all your pay stubs and find out. Your earnings per week will be the basis for your estimate of your annual salary.

  • Round out the figures. If you're dealing with pesky numbers like 213 and 467, just round to a hundred or fifty (200 and 450) to make multiplication easier.

  • Try to level out your weekly figure into an average. If your income fluctuates wildly, try to estimate what the average is by blending the numbers together, eyeballing them, and coming up with a realistic number that you feel you do make every week.

  • Multiply that number by four to get your estimated monthly income. Yes, there are more than four weeks in some months, so your estimate will be a little conservative, but that's okay. It's just an estimate.

  • Multiply your monthly estimate by 12, and you have it, that golden annual salary number. Doing this math helps you see realistically what salary earners make per hour. You'll see that $10 per hour translates to roughly 20k a year, and $15 per hour to about 30k, and so on. Doing this simple calculation actually lets you evaluate salary to per-hour figures in moments in your head, just by rounding off numbers and multiplying.

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