The formula
Hourly rate = annual salary ÷ (hours per week × paid weeks). Weekly pay = salary ÷ weeks. Monthly pay = salary ÷ 12. A $65,000 salary at 40 hours and 52 weeks is about $31.25 an hour before tax.
Use 50 weeks if you have two unpaid weeks. Overtime, bonuses, and benefits are not included.
Common questions
Is this take-home pay?
No. This is gross pay. Tax, CPP/EI, or 401(k) come off later.
What if I am paid every two weeks?
There are 26 cheques a year. Each cheque is annual ÷ 26. The hourly rate is unchanged.