Min Wage Annual

No — Annual Gross and Monthly Gross are both pre-tax, pre-deduction figures. Actual take-home pay will be lower after federal and state income tax withholding, payroll taxes (Social Security and Medicare), and any other deductions like health insurance premiums or retirement contributions, none of which this calculator models.

52 weeks is a full calendar year, but most workers take some unpaid time off over the course of a year — even one without paid vacation typically misses a holiday or two — so 50 is a more realistic full-time-equivalent default. If you know you work all 52 weeks without any unpaid gaps, set Weeks Worked to 52 for a slightly higher annual figure.

The federal minimum wage sets a national floor of $7.25/hour (unchanged since 2009), but individual states and cities are free to set a higher minimum, and many have — some metro areas now exceed $16-17/hour. Because there is no single "minimum wage" figure that applies everywhere, this calculator asks you to enter the specific rate for your jurisdiction rather than assuming one.

Within this calculator's model, yes in dollar terms — Annual Gross is a straight multiplication of rate x hours x weeks, with no overtime premium applied above 40 hours, so each additional hour per week adds the same flat dollar amount to Annual Gross regardless of which hour it is (at $15.50/hour and 50 weeks, that's $775 per year per extra weekly hour, whether it's your 31st hour or your 45th). Because the base is smaller at fewer hours, though, that same flat dollar increase is a bigger percentage gain going from 30 to 40 hours than going from 40 to 50. In real payroll, hours beyond 40 in a week are often paid at a higher overtime rate under the Fair Labor Standards Act, which this simple full-time-equivalent estimate does not model.