Time and a Half Calculator

Instantly calculate your time-and-a-half overtime rate. Enter your regular hourly wage to see your 1.5x rate for overtime, weekends, and holiday pay.

MT
Written by Michael Torres, CFA
Senior Financial Analyst
JW
Fact-checked by Dr. James Wilson, PhD
Options Strategy Researcher
Financial PlanningFact-Checked

Input Values

$

Your standard hourly pay rate.

Number of hours at time and a half rate.

Results

Time and a Half Rate
$0.00
Overtime Earnings
$0.00
Double Time Rate (2x)$0.00
Regular 8-Hour Day Pay$0.00
Overtime 8-Hour Day Pay (1.5x)$0.00
Results update automatically as you change input values.

What Is Time and a Half?

Time and a half means you are paid 1.5 times your regular hourly rate for qualifying overtime hours. This is the standard overtime rate required by the Fair Labor Standards Act (FLSA) for non-exempt employees who work more than 40 hours in a workweek. Many employers also pay time and a half for holiday work, weekend shifts, or other premium pay situations, though this is not required by federal law.

Time and a Half Formula
Time and a Half Rate = Regular Hourly Rate x 1.5
Where:
Regular Hourly Rate = Your standard pay per hour
1.5 = The overtime multiplier (one and one-half times)
Time and a Half Example
Given
Regular Rate
$20.00/hour
Overtime Hours
8 hours
Calculation Steps
  1. 1Time and a half rate: $20.00 x 1.5 = $30.00/hour
  2. 2Overtime earnings: $30.00 x 8 hours = $240.00
  3. 3Compare to regular pay: $20.00 x 8 hours = $160.00
  4. 4Extra earnings from overtime premium: $240.00 - $160.00 = $80.00 bonus
Result
At $20.00/hour, your time-and-a-half rate is $30.00/hour. Working 8 overtime hours earns you $240.00 compared to $160.00 at the regular rate, giving you $80.00 extra.

Time and a Half Quick Reference Table

Common Hourly Rates and Their Time-and-a-Half Equivalents
Regular RateTime and a Half (1.5x)Double Time (2x)8-Hour OT Day Pay
$10.00$15.00$20.00$120.00
$12.00$18.00$24.00$144.00
$15.00$22.50$30.00$180.00
$18.00$27.00$36.00$216.00
$20.00$30.00$40.00$240.00
$22.00$33.00$44.00$264.00
$25.00$37.50$50.00$300.00
$30.00$45.00$60.00$360.00
$35.00$52.50$70.00$420.00
$40.00$60.00$80.00$480.00
$50.00$75.00$100.00$600.00

When Do You Get Time and a Half?

  • Working more than 40 hours in a workweek (federal FLSA requirement for non-exempt employees)
  • Working more than 8 hours in a single day (California, Alaska, and some other states)
  • Working on the 7th consecutive day in a workweek (California requires 1.5x for first 8 hours)
  • Holiday work (not required by federal law, but many employers offer it voluntarily)
  • Weekend or night shifts (depends on employer policy or union contract)
  • Some government and union contracts specify time and a half for specific circumstances

Time and a Half for Salaried Employees

Non-exempt salaried employees are entitled to time and a half for overtime. To calculate the hourly rate for a salaried employee, divide the weekly salary by the number of hours the salary is meant to compensate (usually 40). For example, a salary of $800/week divided by 40 hours = $20/hour regular rate, making the time-and-a-half rate $30/hour. In 2026, salaried employees earning less than $58,656/year are generally non-exempt and entitled to overtime.

i
Holiday Pay Is Not Required by Federal Law

There is no federal requirement to pay time and a half for holidays. The FLSA does not require extra pay for weekends, holidays, or regular days of rest. However, many employers choose to offer premium pay for holidays as a benefit to attract and retain employees. Check your company policy or employment contract.

How Overtime Adds Up Over a Year

Even a small amount of regular overtime can significantly boost your annual earnings. Working just 5 extra hours per week at time and a half adds up to considerable extra income over a year. At $20/hour, 5 overtime hours per week earns an extra $7,800 per year, turning a $41,600 base salary into $49,400. That is nearly a 19% raise just from overtime.

Annual Overtime Income at $20/hour with Time and a Half
Weekly OT HoursWeekly OT PayAnnual OT PayTotal Annual Income
2 hours$60$3,120$44,720
5 hours$150$7,800$49,400
8 hours$240$12,480$54,080
10 hours$300$15,600$57,200
15 hours$450$23,400$65,000
20 hours$600$31,200$72,800

Frequently Asked Questions

Time and a half for $15/hour is $22.50 per hour ($15 x 1.5 = $22.50). An 8-hour overtime day at this rate earns $180.00.

Sources & References

  • U.S. Securities and Exchange Commission (SEC) - Investor Education
  • Options Clearing Corporation (OCC) - Options Education
  • Chicago Board Options Exchange (CBOE) - Options Strategies
  • Hull, J.C. "Options, Futures, and Other Derivatives" (11th Edition, 2021)

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