The formula
Yearly pay = hourly wage × hours per week × weeks per year. Full time is usually 40 hours × 52 weeks = 2,080 hours. At $18 an hour that is $37,440 a year, $3,120 a month and $1,440 every two weeks.
Quick reference (40 h/week, 52 weeks)
| Hourly | Yearly | Monthly |
|---|---|---|
| $15 | $31,200 | $2,600 |
| $20 | $41,600 | $3,467 |
| $25 | $52,000 | $4,333 |
| $30 | $62,400 | $5,200 |
Unpaid time off
If you do not get paid vacation, lower the weeks per year. Two unpaid weeks means 50 weeks. Tipped workers can add their average tips per hour to the wage to see their real income.