The quick rule
Double your hourly rate and add three zeros. $20 an hour is about $40,000 a year, because 40 hours times 52 weeks is 2,080 hours. The exact figure is $41,600. Going the other way, divide a salary by 2,080 to get the hourly equivalent.
Hourly versus salaried
A salary that matches your 40-hour hourly pay is a pay cut if you currently work overtime, because most salaried roles are exempt from it. Someone at $25 an hour who averages 45 hours earns about $61,750 with overtime, so a $55,000 salary offer is less money for the same hours. Check your real figure with the overtime calculator before comparing.
Unpaid weeks
Hourly workers without paid time off should plan on 50 weeks, not 52. Drop the hours per week to 38 to approximate two unpaid weeks a year. For raises, the pay raise calculator gives the annual difference directly.