Salary is a predetermined amount of compensation that you can count on each pay period; this amount can constitute all or part of your pay. Wages are usually associated with your hourly pay rate; your wages for the pay period depends on the amount of hours you work. Your gross income is your pay before deductions are taken out. As a salaried employee, your employer probably gave you only your yearly salary when he hired you. To know your monthly wages before deductions are subtracted, start with your yearly salary.
Calculate your yearly salary by multiplying your salary per pay period by the number of pay periods in the year. For example, $3,500 monthly equals $42,000 yearly -- $3,500 x 12 months.
Divide your annual salary by 12 months to arrive at your monthly gross pay. For example, $60,000 yearly equals $5,000 per month.
Divide your annual salary by the number of hours in the calendar year to arrive at your hourly wage. On average, a calendar year has 2,087 hours. For example, an annual salary of $70,000 equals $33.54 per hour or $70,000 divided by 2,087.
To figure out your monthly take-home wages, subtract your deductions, such as payroll taxes and voluntary deductions, for the month from your monthly gross pay.