This Page's Content Was Last Updated:
October 13, 2022
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Inputs
Interactive Map - Choose Province
$
hours/week
days
Results
$
46,967
Net Annual Income
$
62,400
Gross Annual Income
Gross Daily Income
$
240
Gross Weekly Income
$
1,200
Gross Monthly Income
$
4,800
Work Hours in a Year
1960
Adjusted Hourly Wage
$
31.84
Effective Income Tax Rate
29.65
%
About the Annual Salary Calculator
Your annual salary is how much you make per year. To find out your actual take-home pay, this annual salary calculator uses your hourly wage, total working hours, and location to find your annual after-tax income. This is known as your net income and it is how much you will take home every year. You can find out your adjusted hourly wage, which is how much you actually make per hour worked after accounting for paid time off (PTO), such as vacation and sick days. This calculator also converts your annual salary into daily, weekly, and monthly income amounts.
Annual Salary Calculator Terms
Province: Where you are employed is used to calculate your income tax rate.
Paid Time Off per Year: This includes paid holidays, vacation days, sick days, and personal days.
Gross Annual Income: Your annual income before taxes.
Adjusted Hourly Wage: Your hourly wage adjusted for your paid time off. This is how much you make per hour worked. The more paid time off (PTO) you have, the higher your adjusted hourly wage.
Total Work Hours in a Year: This excludes your paid time off.
Effective Income Tax Rate: This is the income tax you will have to pay as a percentage of your gross income. Included are provincial and federal income taxes.
Net Annual Income: Your annual income after taxes. This is your take-home pay.
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How to Use the Annual Salary Calculator
You can convert your hourly wage into an annual salary by using this calculator. It also finds your net income after deducting income taxes. To use this annual salary calculator, follow these steps:
- Enter Your Hourly Wage
An hourly employee is paid for each hour that they work. If you’re paid by the hour, you’ll enter your hourly pay or hourly rate here. If you’re a salaried employee, you can instead enter your salary into the gross annual income field. That’s because salaried employees are paid a fixed amount per month or year.
- How Many Hours Do You Work?
In Canada, full-time jobs typically have a 35-hour to 40-hour working week. It’s common for full-time employees to work 8 hours per day. Part-time employees would work 30 hours or less per week. As an hourly employee, you’ll be making more money the more hours that you work. As a salaried employee, your adjusted hourly wage will be lower the more hours that you work. In this field, enter how many hours that you work per week.
- Do You Have Paid Time Off?
Full-time employees usually have paid-time off (PTO) in Canada, which includes holidays, vacation days, sick days, and personal days. Part-time employees will generally also receive paid-time off, including holidays or a premium for holiday pay. These are days that you will not be working, but you’re still paid your regular wage for these days. The more paid-time off that you have, the higher your adjusted hourly wage.
- Your Location Matters
When it comes to calculating income taxes, your location matters. Each province has their own income taxes and tax brackets which will affect how much income tax you will pay. An amount is usually withheld from your paycheque to account for federal and provincial taxes. This might be more or less than your actual income tax owed. This salary calculator estimates your income taxes based on your gross pay and location of employment.
- Results
Once you’ve entered all the inputs, the annual salary calculator will give you your net annual income. It also estimates your income tax rate, how much tax you’ll have to pay, and your adjusted hourly wage. Gross daily, weekly, and monthly income amounts can also be found.
Salary vs. Wage: What’s The Difference?
Salary usually refers to the fixed amount that an employee makes per year. On the other hand, wage is typically used when referring to an hourly wage, which is the amount that an employee makes per hour worked.
A salary is not based on the amount of actual hours worked. This means that salaried employees might work more hours than scheduled and still be paid the same fixed salary. Depending on your province and occupation, you may still be eligible for overtime pay.
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How to Calculate Annual Income
To calculate your annual income, you will multiply your hourly wage by the hours worked per week and then by the number of working weeks in a year. Hours worked per week is based on your hours worked each day, then by the number of days that you work each week. Not all employees work five days a week. Some might have a 10-hour workday and work four days a week. Part-time employees might work less days.
The following annual income formula can be used to calculate your annual income:
Annual Income = Hourly Wage x Hours Worked per Week x Weeks per Year
If you’re a salaried employee, you might be looking to convert your annual salary into hourly, daily, weekly, or monthly salary amounts. This allows you to know how much you are making every day, week, or month.
To convert your salary, use the following conversion table.
Converting Annual Salary
| To | Divide By |
|---|---|
| Monthly Income | 12 |
| Weekly Income | 52 |
| Daily Income | 260 |
| Hourly Income | 2080 |
As an example, let’s say that your annual salary is $100,000 and you want to find out what your daily income is. Since there are 52 weeks in a year, and based on a 5-day working week, you would be working 260 days in a year (from 52 x 5 = 260). Then, divide your annual salary by 260 days to get your daily income, which in this case is $384.62. This is your gross daily pay before any deductions, such as tax.
The table below gives an example for other income time periods.
Example of Converting $100,000 Annual Salary
| To | Calculation | Result |
|---|---|---|
| Monthly Income | $100,000/12 | $8,333.33 Monthly |
| Weekly Income | $100,000/52 | $1,923.07 Weekly |
| Daily Income | $100,000/260 | $384.62 Daily |
| Hourly Income | $100,000/2080 | $48.07 Hourly |
From this rough calculation, a person with a $100,000 annual salary would be making roughly $8,333.33 per month, which is equivalent to $1,923.07 per week, $384.62 per day, and $48.07 per hour.
How to Quickly Find Your Hourly Wage
An easy way to calculate your hourly wage from your annual income is to divide your annual salary by 2,000. That’s based on working 50 weeks per year (with 2 weeks unpaid) and 40 hours per week. If you work 52 weeks per year, or are paid for working 52 weeks per year, then you can divide your annual salary by 2,080. This gives you your hourly wage.
As an example, if your annual salary is $50,000, dividing it by 2,000 gives you $25. Someone with a $50,000 annual salary would be making roughly $25 per hour.
Examples of Calculating Annual Income
There are different ways to calculate annual income based on an hourly wage. While this calculator does this for you, you can still find your annual income manually. Here are some examples for calculating annual income.
- You’re an Hourly Employee
If you’re an hourly employee, you can easily find your annual income by multiplying your hourly wage by your hours worked. Let’s say that you work eight hours per day, for five days per week. That’s 40 hours per week. With 52 weeks in a year, you’ll be working 2,080 hours per year.
As an example, someone has an hourly wage of $20. Using the annual income formula, they will calculate their income with using this calculation:
Annual Income = $20/hour x 2,080 hours/year
Annual Income = $41,600
A full-time hourly employee making $20 per hour would make roughly $41,600 per year.
- You Have Unpaid Time Off
Unlike salaried employees, which are paid a fixed amount, wage earners can have their income affected by the amount of time worked. If you are scheduled less hours, you’ll be earning less money. The same goes for time off. Taking unpaid time off will affect your annual income.
Using the same example as above, of a full-time employee earning $20 per hour, consider what will happen to their annual income if they take a two week unpaid vacation. This leave of absence will reduce their income, but by how much?
Unpaid Time Off = 40 hours/week x 2 weeks
Unpaid Time Off = 80 hours
Cost of Unpaid Time Off = 80 hours x $20/hour
Cost of Unpaid Time Off = $1,600
Their annual income will be reduced by roughly $1,600 due to taking two weeks off. Another way to calculate this is to use the annual income formula, but reducing the weeks worked per year.
Annual Income = $20/hour x 40 hours/week x 50 weeks/year
Annual Income = $40,000
The annual income of this wage earner has now dropped to $40,000 from the previous example of $41,600.
- You’re Paid a Daily Wage
Some jobs pay daily. If you’re paid a daily wage rather than an hourly wage, you’ll base your calculation based on your number of working days. A full-time worker will be working around 260 days per year (5 days per week x 52 weeks in a year). Let’s say you’re paid $250 per day. How much will you earn in a year?
$250/day x 260 days/year = $65,000/year
Someone earning $250 per day would make $65,000 in a year.
- You’re Paid a Salary
Salaried employees are paid a set amount of money that doesn’t depend on the number of hours worked. As an example, let’s say that a salaried employee is paid $10,000 per month. The steps to calculating their annual salary is to multiply their monthly salary by 12, which is the number of months in a year.
Annual Salary = $10,000/month x 12 months/year
Annual Salary = $120,000
In this example, their annual salary is $120,000 per year.
Hourly vs. Salaried: Which is More Common?
In Canada, hourly paid employees are more common than salaried employees. Out of 17.2 million Canadian workers in July 2022, roughly 10.1 million were hourly paid and 6.2 million were salaried. This means that 59% of Canadian workers are paid by the hour, while 36% are salaried. The remaining workers have other compensation schemes.
| Compensation | Number of Workers | % of Canada’s Workforce |
|---|---|---|
| Hourly | 10,099,580 | 59% |
| Salaried | 6,191,266 | 36% |
| Other | 947,032 | 5% |
Source Statistics Canada
What is Annual Income?
Your annual income or annual salary are important numbers to know. You’ll need to know these numbers to help you budget, when applying for a mortgage or credit, or even when looking for a home to rent. This section will take a look at what is annual income along with some statistics about income in Canada.
Hourly Wage
Your annual income is made up of your hourly wage and the total number of hours worked in a year. The more hours you work, the more you’ll make. The same goes for your hourly wage. The higher your wage, the more you’ll make.
In Canada, there are two types of minimum wages. The federal minimum wage applies to those working in federally regulated sectors, as well as federal Crown corporations, which as of 2022 numbered at 955,000 workers. That's 6% of all workers in Canada! As of 2022, Canada's federal minimum wage is $15.55 per hour.
Canada’s Federal Minimum Wage
As of 2022, Canada’s federal minimum wage is $15.55 per hour. This applies to about 6% of Canada’s workforce.
For most workers, your province or territory’s minimum wage would be the one that applies to you. Each province and territory sets their own minimum wage. If the federal minimum wage applies to you but your province has a higher minimum wage, then the higher minimum wage would be the one in effect.
2022 Minimum Wage by Province/Territory
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Province for Details
$13.0 to $13.7
$13.7 to $14.3
$14.3 to $15.5
$15.5 to $16.0
| Province/Territory | Minimum Wage |
| New Brunswick | $13.75 |
| Yukon | $15.70 |
| Manitoba | $13.50 |
| Saskatchewan | $13.00 |
| Newfoundland and Labrador | $13.70 |
| Prince Edward Island | $13.70 |
| Quebec | $14.25 |
| Nova Scotia | $13.95 |
| Ontario | $15.50 |
| British Columbia | $15.65 |
| Nunavut | $16.00 |
| Northwest Territories | $15.20 |
| Alberta | $15.00 |
| Federal | $15.55 |
Only three provinces and territories have a higher provincial/territorial minimum wage than the federal minimum wage: British Columba, Nunavut, and Yukon. Federally-regulated workers earning minimum wage in those areas would earn the higher provincial/territorial minimum wage.
Workers in non-federally regulated industries, which account for 94% of Canada’s workforce, would not be covered by the federal minimum wage. A minimum wage earner in Saskatchewan would earn $13.00 per hour for instance, while the Ontario minimum wage as of 2022 was $15.50.
Your minimum wage can also depend on your occupation. For example, students, servers, and other occupations might have a lower minimum wage. As an example, the Ontario student minimum wage is $14.60 per hour, compared with Ontario's general minimum wage of $15.50 per hour. In Quebec, employees that are paid tips have a minimum wage of $11.40 per hour, compared to Quebec's minimum wage of $14.25 per hour in 2022.
Provinces and territories across Canada have been increasing their minimum wage in 2022. Some provinces might tie their minimum wage increases to the Consumer Price Index, which allows the minimum wage to increase with inflation. This helps track the cost of living in Canada.
Minimum Wage Increases in 2022
| Province/Territory | Minimum Wage 2021 | Minimum Wage 2022 | Increase |
| New Brunswick | $11.75 | $13.75 | 17% |
| Yukon | $13.71 | $15.70 | 15% |
| Manitoba | $11.95 | $13.50 | 13% |
| Saskatchewan | $11.81 | $13.00 | 10% |
| Newfoundland and Labrador | $12.75 | $13.70 | 7% |
| Prince Edward Island | $12.85 | $13.70 | 7% |
| Quebec | $13.50 | $14.25 | 6% |
| Nova Scotia | $12.95 | $13.95 | 3% |
| Ontario | $15.00 | $15.50 | 3% |
| British Columbia | $15.20 | $15.65 | 3% |
| Nunavut | $16.00 | $16.00 | 0% |
| Northwest Territories | $15.20 | $15.20 | 0% |
| Alberta | $15.00 | $15.00 | 0% |
In 2022, the largest minimum wage increases have been from provinces and territories with lower minimum wages going into the year. For example, New Brunswick increased its minimum wage by 17%, from $11.75 in 2021 to $13.75 in 2022, which still remains far below the minimum wage in British Columbia, Alberta, and Ontario. Provinces with a 2022 minimum wage above $15 saw little change in 2022.
Hourly Employees vs. Salaried Employees
In Canada, salaried employees typically make more money per hour than hourly employees. In July 2022, the average hourly earnings of hourly-paid employees was $28.60 per hour. In comparison, salaried employees made an average of $41.53 per hour.
Hourly vs. Salaried Average Hourly Pay
| Compensation | Average Hourly Pay |
|---|---|
| Hourly | $28.60 |
| Salaried | $41.53 |
Source: Statistics Canada
However, salaried employees have a longer work week than hourly employees. Salaried employees worked an average of 37.1 hours per week, while hourly employees worked an average of 31.1 hours per week.
Hourly vs. Salaried Working Week Hours
| Compensation | Average Working Week |
|---|---|
| Hourly | 31.1 hours/week |
| Salaried | 37.1 hours/week |
Source: Statistics Canada
Hourly wages in Canada can also vary considerably depending on your industry. As an example, the average hourly wage of a worker in accommodation and food services is $17.18 per hour. In comparison, someone working in real estate makes an average of $26.87 per hour, while those in construction make an average of $35.02 per hour. The highest paid industry in Canada is information and cultural industries, with an average hourly wage of $37.48 per hour.
Canada Average Hourly Earnings by Industry
| Industry | 2020 | 2021 | Annual Change |
| Goods-producing | $31.03 | $31.99 | 3% |
| Forestry, logging, and support | $29.12 | $31.34 | 8% |
| Mining, quarrying, oil and gas | $43.99 | - | - |
| Construction | $33.65 | $35.02 | 4% |
| Manufacturing | $26.91 | $27.67 | 3% |
| Total Industrial | $26.96 | $27.63 | 2.5% |
| Trade | $21.32 | $21.63 | 1.5% |
| Transportation and warehousing | $28.68 | $28.78 | 0.5% |
| Information and cultural | - | $37.48 | - |
| Finance and insurance | $32.44 | $31.5 | -3% |
| Real estate, rental, and leasing | $25.04 | $26.87 | 7% |
| Professional, scientific, and technical services | $31.29 | $31.95 | 2% |
| Administrative and support, waste management, remediation | $22.68 | $23.97 | 5.5% |
| Educational services | $23.53 | $25.41 | 8% |
| Health care and social assistance | $29.54 | $29.91 | 1% |
| Arts, entertainment, and recreation | $20.76 | $20.92 | 1% |
| Accommodation and food services | $16.86 | $17.18 | 2% |
| Other Services | $24.5 | $25.38 | 3.5% |
| Total Service | $25.55 | $26.1 | 2% |
Source: Statistics Canada
What is overtime?
You work more than a certain number of hours in a week, you are considered to be working overtime. This may qualify you for overtime pay, which is more money than your usual hourly wage. In most cases, overtime pay is 1.5x your regular hourly wage. For example, if your hourly wage is $20, then your overtime pay would be $30 per hour.
In Canada, overtime laws depend on your province. Some provinces define overtime as working more than 40 hours in a week, while others might consider it to be over 44 hours per week. Some workers might also be exempt from getting overtime pay. This includes doctors and lawyers. However, salaried employees can still receive overtime pay.
Federal Holidays in Canada
Federal holidays in Canada, also called public holidays or federal statutory holidays, apply to federally regulated employees. If you work in a federally regulated industry, you will receive 10 paid federal holidays each year. This includes the following federal holidays:
- New Year’s Day
- Good Friday
- Victoria Day
- Canada Day
- Labour Day
- National Day for Truth and Reconciliation
- Thanksgiving Day
- Remembrance Day
- Christmas Day
- Boxing Day
Federal workers may be able to substitute a holiday for another day if the holiday falls on a non-working day. For example, you might be able to add the holiday as an extra day to your annual vacation allowance, or have it in-lieu on the day before or after the holiday.
The table below shows the date of Federal holidays in Canada for 2022.
Canada’s Federal Holidays 2022
| Federal Holiday | Date |
|---|---|
| New Year | January 1, 2022 |
| Good Friday | April 15, 2022 |
| Easter Monday | April 18, 2022 |
| Victoria Day | May 23, 2022 |
| Canada Day | July 1, 2022 |
| Civic Holiday | August 1, 2022 |
| Labour Day | September 5, 2022 |
| National Day for Truth and Reconciliation | September 30, 2022 |
| Thanksgiving Day | October 10, 2022 |
| Remembrance Day | November 11, 2022 |
| Christmas Day | December 25, 2022 |
| Boxing Day | December 26, 2022 |
Provincial Holidays
Provinces and territories aren’t required to follow the federal government in making federal holidays as statutory holidays. Provincial stat holidays differ by province. For example, Ontario celebrates Boxing Day as a holiday, while British Columbia does not. Meanwhile, Remembrance Day is a stat holiday in B.C. but not in Ontario.
How Do the Provinces Stack Up?
Number of Statutory Holidays by Province
| Province | Holidays |
| Newfoundland and Labrador | 14 |
| New Brunswick | 11 |
| British Columbia | 10 |
| Saskatchewan | 10 |
| Ontario | 9 |
| Quebec | 9 |
| Alberta | 9 |
| PEI | 8 |
| Manitoba | 8 |
| Nova Scotia | 6 |
Provincial holidays also do not always align with federal holidays. This means that you might still have to work even if it is a federal stat holiday. The below section lists provincial statutory holidays in Canada.
- Ontario Statutory Holidays
- British Columbia Statutory Holidays
- Quebec Statutory Holidays
- Alberta Statutory Holidays
- Nova Scotia Statutory Holidays
- New Brunswick Statutory Holidays
- Saskatchewan Statutory Holidays
- Manitoba Statutory Holidays
- PEI Statutory Holidays
- Newfoundland Statutory Holidays
Ontario Statutory Holidays
| Ontario Holiday | Date |
|---|---|
| New Year’s Day | January 1, 2022 |
| Family Day | February 21, 2022 |
| Good Friday | April 15, 2022 |
| Victoria Day | May 23, 2022 |
| Canada Day | July 1, 2022 |
| Labour Day | September 5, 2022 |
| Thanksgiving Day | October 10, 2022 |
| Christmas Day | December 25, 2022 |
| Boxing Day | December 26, 2022 |
Source: Government of Ontario
British Columbia Statutory Holidays
| British Columbia Holiday | Date |
|---|---|
| New Year’s Day | January 1, 2022 |
| Family Day | February 21, 2022 |
| Good Friday | April 15, 2022 |
| Victoria Day | May 23, 2022 |
| Canada Day | July 1, 2022 |
| B.C. Day | August 1, 2022 |
| Labour Day | September 5, 2022 |
| Thanksgiving Day | October 10, 2022 |
| Christmas Day | December 25, 2022 |
| Boxing Day | December 26, 2022 |
Source: Government of British Columbia
Quebec Statutory Holidays
| Quebec Holiday | Date |
|---|---|
| New Year’s Day | January 1, 2022 |
| Good Friday* | April 15, 2022 |
| Easter Monday* | April 18, 2022 |
| National Patriots’ Day | May 23, 2022 |
| Fete Nationale (Jean Baptiste Day) | June 24, 2022 |
| Canada Day | July 1, 2022 |
| Labour Day | September 5, 2022 |
| Thanksgiving Day | October 10, 2022 |
| Christmas Day | December 25, 2022 |
Source: Government of Quebec
*Note: Quebec employers can choose between either Good Friday or Easter Monday
Alberta Statutory Holidays
| Alberta Holiday | Date |
|---|---|
| New Year’s Day | January 1, 2022 |
| Family Day | February 21, 2022 |
| Good Friday | April 15, 2022 |
| Victoria Day | May 23, 2022 |
| Canada Day | July 1, 2022 |
| Labour Day | September 5, 2022 |
| Thanksgiving Day | October 10, 2022 |
| Remembrance Day | November 11, 2022 |
| Christmas Day | December 25, 2022 |
Source: Government of Alberta
Nova Scotia Statutory Holidays
| Nova Scotia Holiday | Date |
|---|---|
| New Year’s Day | January 1, 2022 |
| Nova Scotia Heritage Day | February 21, 2022 |
| Good Friday | April 15, 2022 |
| Canada Day | July 1, 2022 |
| Labour Day | September 5, 2022 |
| Christmas Day | December 25, 2022 |
Source: Government of Nova Scotia
New Brunswick Statutory Holidays
| New Brunswick Holiday | Date |
|---|---|
| New Year’s Day | January 1, 2022 |
| Family Day | February 21, 2022 |
| Good Friday | April 15, 2022 |
| Easter Monday | April 18, 2022 |
| Canada Day | July 1, 2022 |
| New Brunswick Day | August 7, 2022 |
| Labour Day | September 5, 2022 |
| Thanksgiving Day | October 10, 2022 |
| Remembrance Day | November 11, 2022 |
| Christmas Day | December 25, 2022 |
| Boxing Day | December 26, 2022 |
Source: Government of New Brunswick
Saskatchewan Statutory Holidays
| Saskatchewan Holiday | Date |
|---|---|
| New Year’s Day | January 1, 2022 |
| Family Day | February 21, 2022 |
| Good Friday | April 15, 2022 |
| Victoria Day | May 23, 2022 |
| Canada Day | July 1, 2022 |
| Saskatchewan Day | August 1, 2022 |
| Labour Day | September 5, 2022 |
| Thanksgiving Day | October 10, 2022 |
| Remembrance Day | November 11, 2022 |
| Christmas Day | December 25, 2022 |
Source: Government of Saskatchewan
Manitoba Statutory Holidays
| Manitoba Holiday | Date |
|---|---|
| New Year’s Day | January 1, 2022 |
| Louis Riel Day | February 21, 2022 |
| Good Friday | April 15, 2022 |
| Victoria Day | May 23, 2022 |
| Canada Day | July 1, 2022 |
| Labour Day | September 5, 2022 |
| Thanksgiving Day | October 10, 2022 |
| Christmas Day | December 25, 2022 |
Source: Government of Manitoba
PEI Statutory Holidays
| PEI Holiday | Date |
|---|---|
| New Year’s Day | January 1, 2022 |
| Islander Day | February 21, 2022 |
| Good Friday | April 15, 2022 |
| Canada Day | July 1, 2022 |
| Labour Day | September 5, 2022 |
| National Day for Truth and Reconciliation | September 30, 2022 |
| Remembrance Day | November 11, 2022 |
| Christmas Day | December 25, 2022 |
Source: Government of PEI
Newfoundland and Labrador Statutory Holidays
| Newfoundland and Labrador Holiday | Date |
|---|---|
| New Year’s Day | January 1, 2022 |
| St. Patrick's Day | March 14, 2022 |
| Good Friday | April 15, 2022 |
| St. George's Day | April 25, 2022 |
| Victoria Day | May 23, 2022 |
| June Holiday | June 27, 2022 |
| Memorial Day | July 1, 2022 |
| Orangeman's Day | July 11, 2022 |
| Labour Day | September 5, 2022 |
| National Day for Truth and Reconciliation | September 30, 2022 |
| Thanksgiving Day | October 10, 2022 |
| Armistice Day (Remembrance Day) | November 11, 2022 |
| Christmas Day | December 25, 2022 |
| Boxing Day | December 26, 2022 |
The calculators and content on this page are provided for general information purposes only. WOWA does not guarantee the accuracy of information shown and is not responsible for any consequences of the use of the calculator.