How To Convert Hourly Pay Rate, Wage To Yearly, Annual Pay Salary Explained

In this video we go through how to convert an hourly pay rate to yearly pay or salary. We cover the formula and go through several examples showing how to do the math.

Transcript/notes
The formula to convert hourly pay rate to yearly pay is yearly earnings equals the number of hours worked per week, times the hourly pay rate, times 52. We are multiplying by 52 because there are 52 weeks in a year.

As an example, let’s say that someone works a typical 40 hour work week and makes $18.50 per hour. The formula would be yearly earnings equals 40, times $18.50, times 52, which calculates to $38,480.

As another example, if someone works a part-time job for 22 hours per week and gets paid $12.75 per hour, the calculation would be 22 times $12.75, times 52, which equals $14,586.

And here are a couple more examples on the screen for you.

Timestamps
0:00 Formula to convert hourly pay rate to yearly pay
0:13 Example of how to convert hourly pay rate to yearly pay
0:31 Example for part time employee
0:49 More examples