formula to calculate yearly salary
1 Multiply your monthly income by the decimal to get your pay after taxes. 2  You can calculate either your monthly or annual pay in this way. 3  If you make $2800 a month and fall in the 30% tax bracket, your decimal equivalent is .7. 4  Multiply $2800 x 0.7 to get $1960 a month. You can easily reverse the calculations, using annual income to find the equivalent hourly wage. 2  Divide the total annual compensation by your hours worked. 3  If you work full time, this will be 2080 hours (52 weeks of 40 hour work weeks).