Define the schedule assumptions
An hourly rate alone is not enough to calculate annual pay. You also need expected hours per week and paid weeks per year. Unpaid leave and variable schedules can materially change the result.
Use the basic formula
Annual gross pay equals hourly rate multiplied by hours per week multiplied by paid weeks per year. Monthly average is annual pay divided by twelve.
Do not hide unpaid time
Using 52 weeks assumes all weeks are paid at the entered schedule. For a contractor or seasonal worker, enter a realistic number of paid weeks and consider nonbillable time separately.
Compare offers on the same basis
When comparing salary and hourly compensation, also review benefits, paid leave, overtime eligibility, business expenses and schedule stability.