How it works
Annual gross income = main annual pay + overtime + bonuses + commission + side income + other income. Overtime = main hourly rate × overtime hours × multiplier × overtime weeks.
- Enter main pay and your paid schedule.
- Add overtime hours, multiplier and weeks if paid.
- Add yearly bonuses and other income sources.
- Read total gross income and each source's share.
Worked example: 25 per hour × 40 hours × 52 weeks = 52,000. Overtime of 5 hours × 1.5 × 25 × 48 weeks adds 9,000. A 3,000 bonus and 500 monthly side income add 9,000, giving 70,000 before tax.
Yearly income examples
| Main pay | Period | Total annual gross income | Additional income |
|---|---|---|---|
| 25 | Hour | 52,000 per year | None |
| 60,000 | Year | 65,000 per year | 5000 yearly bonus |
| 25 | Hour | 61,000 per year | 5 h overtime at 1.5× for 48 weeks |
| 4,000 | Month | 54,000 per year | 500 per month side income |
| 1,000 | Week | 52,000 per year | None |
Swipe the table sideways to see the rest.
Things to consider
- Use the same currency for every source.
- Leave unused income sources at zero.
- Do not count overtime twice in main pay.
- Use averages for irregular earnings.
- Daily and hourly totals are comparisons, not wage rates.
Frequently asked questions
What does annual income mean?
Annual income is income over a year. Gross income is before tax and deductions; net income is what remains after them. This calculator adds gross amounts in one currency. It does not calculate tax or take-home pay.
How do I calculate annual income from hourly pay?
Multiply hourly pay by paid hours per week and paid weeks per year. At 25 per hour, 40 hours and 52 weeks, main annual pay is 52,000. Use the Salary to Hourly Calculator: Convert Pay Rates for a single-rate comparison.
Do overtime and bonuses count as annual income?
Yes, if earned during the year. Add overtime separately using the main hourly equivalent, overtime hours, multiplier and weeks with overtime. Add bonuses and commission as yearly totals. Do not add income already included in main pay again.
How do I handle irregular hours or side income?
Use a realistic average paid schedule and estimate yearly bonuses separately. Side and other income entered per hour, day, week or fortnight use the main schedule here. If those sources have a different schedule, enter their estimated annual total instead. Effective hourly includes main and overtime hours only, not side-job hours.
How is monthly income converted to annual income?
Multiply monthly income by 12. Main pay of 4,000 per month and side income of 500 per month total 54,000 per year. Total monthly equivalent is annual income divided by 12, while weekly and fortnightly equivalents use 52 and 26 periods.
Why do lenders ask for annual income?
Annual income helps lenders compare earnings with proposed repayments and other commitments. They may request evidence and treat variable or side income differently. This total is not a lending decision or an affordability guarantee.
What do the daily and effective hourly totals mean?
Daily equivalent divides total income by main days per week times main paid weeks. Effective hourly divides total income by main paid hours plus overtime hours. Both include income such as bonuses and rent in the numerator. They are comparison figures, not actual wage rates; side-job hours are not supplied or included.
Results are estimates for general information only, not financial, medical or professional advice.