salary converter

How the salary converter will help you

This salary calculator takes a simple and bland conversion process and puts some shine on it. An effective way to work out your gross wage across multiple pay periods, no longer are manual calculations needed. The powerful functionality provides the most comprehensive view possible by demonstrating what you earn hourly, daily, weekly, fortnightly, monthly, quarterly, semi-annually or annually.

Designed to cater for a broad array of users, you have the option of entering your wage depending on whether you get paid hourly, daily, weekly, fortnightly, monthly, quarterly, semi-annually or annually. Additionally, there are two value adding features:

1. Salary comparison

This feature allows you to perform a comparison between your current salary and your proposed salary in a percentage and value change. Useful if you want to visualise the change (up or down) by varying your workload




 

2. Salary variance

A table is presented based on your scenario which demonstrates the change in your results using a range from 0% to 100%. Effective in providing a high-level view of how your results will look based on % changes.

This wage converter can be used individually or in tandem with my Paycheck Calculator.

An example

Suppose you know what you earn daily and you would like to see what this equates to annually. You would also like to know what the impact would be if you increased or decreased your workload.

You know you receive $380 before tax each day and you work 40 hours a week. You have the option to take on some extra work for 5 hours a week, bringing your total to 45 hours. You work 5 days a week and an extra hour a day won’t really make much impact on your life.

By entering these values you receive a result that illustrates an increase of $12,350 in before tax annual salary, from $98,800 to $111,150. A whopping wage increase for such as small increase to your workload!

You are interested in what the effects would be should you have to drop a day of work each week. Instead of working 40 hours each week you drop down to 32 hours. The result is quite detrimental to your before tax annual wage with a marked 20% decline or $19,760.

Salary Converter

How this calculator works

By entering the gross wage amount you would like to convert, how often you receive this amount and how many hours you currently work to achieve the figure each week, the calculator will convert the findings to a series of wage periods and the estimated gross amounts. 

Limitations

This calculator works on the assumption no taxes or varying pay rates apply. For example, increasing your working hours beyond your current situation may result in over-time rates which could increase your gross earnings further than calculated.

Instructions

Walk-through:

  1. Enter the amount of wage you wish to convert – gross (before tax) amount
  2. Enter the period the above wage represents – how often the wage is received. The droplist allows for Hourly, Daily, Weekly, Fortnightly, Monthly, Quarterly, Semi-annually or Annually
  3. Enter the current working hours a week – the number of hours you would normally work to achieve this gross wage. If it varies just use an average for this purpose.
  4. Enter the current number of days a week you work – the number of working days a week the total working hours is spread over. Again, use an average if it varies from week to week.
  5. Enter the current number of hours a day you work – the average number of hours

Option – Comparison (if you would like to compare your current figures to that of a change in circumstances then you can include the following entries)

  1. Enter the comparison working hours a week – the estimated number of hours you could work for a comparison
  2. Enter the comparison number of days a week you could work – the number of working days a week the total working hours is spread over. Again, use an average if it varies from week to week.
  3. Enter the comparison number of hours a day you could work – the average number of hours

eFM do-it-yourself financial planning ebook – coming soon!

Please signup to the eFM subscriber list if you would like to download the eFM ebook. Coming soon, this ebook will provide you with the step by step process to do-it-yourself financial planning.

Salary Converter

All fields marked with * are mandatory
Amount of the wage you wish to convert*
Input Value Without $
Period the above wage represents*
Current working hours a week*
Enter # of days per week you do work*
Enter # of hours per day you do work*

Optional - Comparison

Working hours a week you will work
Enter # of days per week you will work
Enter # of hours per day you will work