About PayRateTools
PayRateTools provides free, easy-to-use salary and pay rate calculators to help employees and employers make informed financial decisions.
Our Mission
Understanding your compensation shouldn't require a finance degree. We built PayRateTools to give everyone access to the same calculations that HR departments and financial advisors use—completely free and without requiring registration.
What We Offer
Our suite of calculators helps with every aspect of pay and compensation:
- Salary Conversion: Convert between hourly, weekly, monthly, and annual pay
- Job Comparison: Compare total compensation packages including benefits
- Tax Estimates: Calculate take-home pay after federal and state taxes
- Overtime Pay: Calculate regular, time-and-a-half, and double-time earnings
- Freelance Rates: Determine what rate to charge as a freelancer
- Employer Costs: Calculate the true cost of hiring an employee
Accuracy & Limitations
Our calculators use standard formulas and current tax rates to provide accurate estimates. However, please note:
- Tax calculations are estimates based on simplified brackets
- Your actual taxes depend on deductions, credits, and other factors
- State tax rates shown are approximate marginal rates
- Always consult a tax professional for personalized advice
Privacy
We respect your privacy. All calculations happen in your browser—we don't store your salary information or personal data on our servers. No registration is required to use any of our tools.
Frequently Asked Questions
How do I convert hourly wage to annual salary?
Multiply your hourly rate by the number of hours you work per week, then multiply by 52 (weeks per year). For example: $20/hour × 40 hours × 52 weeks = $41,600/year.
How do I convert salary to hourly rate?
Divide your annual salary by 2,080 (the standard number of working hours in a year for full-time work). For example: $60,000 ÷ 2,080 = $28.85/hour.
What's the difference between bi-weekly and semi-monthly pay?
Bi-weekly means every two weeks (26 paychecks per year), while semi-monthly means twice a month on set dates like the 1st and 15th (24 paychecks per year). Bi-weekly paychecks are slightly smaller but you get two "extra" paychecks per year.
How is overtime calculated?
Under federal law (FLSA), overtime is paid at 1.5 times your regular hourly rate for hours worked over 40 in a week. Some states have additional overtime rules for daily hours or specific industries.
How much do benefits add to total compensation?
Benefits typically add 20-40% on top of base salary. Health insurance alone can be worth $10,000-20,000+ per year, and 401k matching adds another 3-6% of salary.
What's a good freelance rate to charge?
A common rule of thumb is to take your desired annual salary, divide by 1,000, and use that as your hourly rate. This accounts for self-employment taxes, benefits, and non-billable time.
How much does it cost to replace an employee?
Employee turnover typically costs 50-200% of the employee's annual salary when you factor in recruiting, training, and lost productivity. Senior roles and specialized positions cost more to replace.
Are your tax calculations accurate?
Our tax calculations use current federal brackets and approximate state rates to provide reasonable estimates. However, actual taxes depend on many factors. Always consult a tax professional for personalized advice.
Is my data private?
Yes. All calculations happen in your browser. We don't store your salary information or personal data on our servers. No account or registration is required.
Are these calculators free to use?
Yes, all our calculators are completely free with no usage limits. We're supported by advertising.
Our Calculators
Universal Converter
Convert any pay rate to all frequencies
Overtime Calculator
Calculate time and a half pay
Raise Calculator
See your raise impact over time
Job Comparison
Compare total compensation packages
Take-Home Pay
Calculate net pay after taxes
Freelance Rate
Find your ideal hourly rate
Benefits Value
Calculate total compensation value
Employee Cost
True cost of hiring an employee