Easily convert an employee's compensation from hourly to salary, or vice versa.
Keep in mind that there are 52 weeks in a year and 40 hours in the average, full-time workweek.
The federal minimum wage is $7.25 per hour (about $15,000 annually). Many cities and states across the U.S. have adopted higher minimums. For a full listing of state minimums, see our the 2018 State Tax Tool.
Don’t forget that transitioning an employee from hourly to salaried or vice versa does not change their eligibility for overtime. That is determined by two criteria: wages and job duties. Employees earning less than $23,660 per year must be eligible for overtime pay. To see how duties impact overtime status, read our free guide here.