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Free hourly rate to annual salary converter — and back the other way. Includes a W-2 vs 1099 toggle that shows the ~30% premium contractors need to charge to net the same as employees.
52 = no PTO. 50 = 2 weeks PTO. 48 = 4 weeks PTO.
$100,000
50 × 40 hrs × 50 weeks
Working all 52 weeks would be $104,000.
Required 1099 hourly to match: $65/hr
1099 contractors pay both halves of FICA (15.3%) on top of income tax, get no employer benefits, no PTO, no unemployment safety net. A 1099 hourly rate has to be roughly 30% higher than the equivalent W-2 rate just to net the same take-home.
Convert hourly rates to annual salaries and vice versa with adjustable hours per week and paid weeks per year. The W-2 vs 1099 toggle solves a problem most free tools ignore — 1099 contractors pay both halves of FICA (15.3%), get no employer benefits, no PTO and no unemployment safety net, so a 1099 hourly rate needs to be roughly 30% higher than the equivalent W-2 rate just to net the same take-home. Works in USD, GBP, EUR, CAD, AUD and INR.
Compare a salaried offer against a contract gig at $X/hr and see which actually pays more once PTO and benefits are factored in.
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