The first paycheck calculator

Enter the hourly pay and hours, and see what lands in the bank account: gross pay, what is withheld and why, net pay, and what saving a share of each check adds up to.

Hourly pay ($)

Hours a week

Weeks per pay period

Federal income tax withheld (% of pay, example)

State and local income tax withheld (%, example)

Share your student plans to save (%)

Reading the pay stub

Gross pay is hours times the hourly rate, before anything comes out.
Social Security (6.2%) and Medicare (1.45%) together are 7.65% of pay, withheld from most paychecks. These are often labeled FICA.
Federal income tax depends on the W-4 form your student fills out when hired. Many teens with part-time jobs earn less than the standard deduction and owe little or no federal income tax for the year; if some was withheld, filing a tax return can get it back.
State and local income tax varies. Some states have none.
Net pay is what lands in the bank account.

Financial education, not financial advice. Figures are estimates and examples; actual pay, taxes and loan terms depend on the employer, the state, the lender and current rules.

Want help with this part? Money Ready, our six-session financial literacy service for grades 8 to 12, starts with the first paycheck and builds to budgeting, credit and paying for college. Financial education, not financial advice.

Book a free 20-minute call Services for grades 6 to 8

This tool is general information, not legal, tax or financial advice. Each college decides admission, aid and how credit counts, and requirements change; check each college's own pages. Examples are examples, not promises. Caveat Academic Services is an independent college preparation company. Students do all of their own work.