1. What is the Hourly to Annual Salary Calculator?

This calculator converts an hourly wage to an equivalent annual salary in Ontario, Canada. It's useful for comparing job offers or understanding your yearly earnings based on hourly pay.

2. How Does the Calculator Work?

The calculator uses the standard formula:

Where:

• Hourly Rate — Your pay per hour in Canadian dollars
• Hours Per Week — Typical weekly working hours (default 37.5 for full-time)
• 52 — Number of weeks in a year

Note: This is a gross salary calculation before taxes and deductions.

3. Ontario Employment Standards

Details: In Ontario, the general minimum wage is $16.55/hour (as of October 2023). Standard full-time work is 37.5-40 hours per week.

4. Using the Calculator

Tips: Enter your hourly wage and typical weekly hours. For part-time work, enter actual hours. For salaried positions, use reverse calculation.

5. Frequently Asked Questions (FAQ)

Q1: Does this include vacation pay?
A: No, this is gross salary. In Ontario, employees receive at least 4% vacation pay on top of wages.

Q2: What about overtime?
A: This calculator assumes regular hours. In Ontario, overtime is paid at 1.5x for hours over 44/week.

Q3: How accurate is this for contract work?
A: It provides an estimate but contract work may have variable hours and additional expenses.

Q4: What's the difference between this and actual take-home pay?
A: Take-home pay is less due to income tax, CPP, EI, and other deductions.

Q5: Does this account for unpaid time off?
A: No, this assumes you work all 52 weeks. Adjust hours if you anticipate unpaid leave.