diff --git a/src/components/HrTools/PdsGoalCalculator/PdsGoalCalculator.test.tsx b/src/components/HrTools/PdsGoalCalculator/PdsGoalCalculator.test.tsx
index 83ddbae96a..c987c18da4 100644
--- a/src/components/HrTools/PdsGoalCalculator/PdsGoalCalculator.test.tsx
+++ b/src/components/HrTools/PdsGoalCalculator/PdsGoalCalculator.test.tsx
@@ -96,7 +96,9 @@ describe('PdsGoalCalculator', () => {
     });
     // Switching Pay Type clears payRate, so the user must re-enter it before
     // Continue becomes enabled.
-    const payRateInput = await findByRole('spinbutton', { name: 'Pay Rate' });
+    const payRateInput = await findByRole('spinbutton', {
+      name: 'Annual Pay Rate',
+    });
     userEvent.type(payRateInput, '50000');
 
     await waitFor(() => expect(continueButton).not.toBeDisabled());
diff --git a/src/components/HrTools/PdsGoalCalculator/Setup/SetupStep.test.tsx b/src/components/HrTools/PdsGoalCalculator/Setup/SetupStep.test.tsx
index cf3f404a85..c602db9096 100644
--- a/src/components/HrTools/PdsGoalCalculator/Setup/SetupStep.test.tsx
+++ b/src/components/HrTools/PdsGoalCalculator/Setup/SetupStep.test.tsx
@@ -85,7 +85,9 @@ describe('SetupStep', () => {
 
     userEvent.clear(goalNameInput);
 
-    const payRateInput = await findByRole('spinbutton', { name: 'Pay Rate' });
+    const payRateInput = await findByRole('spinbutton', {
+      name: 'Hourly Pay Rate',
+    });
     userEvent.clear(payRateInput);
 
     const hoursInput = await findByRole('spinbutton', {
@@ -182,21 +184,24 @@ describe('SetupStep', () => {
     await findByRole('textbox', { name: 'Goal Name' });
 
     expect(
-      queryByRole('spinbutton', { name: 'Pay Rate' }),
+      queryByRole('spinbutton', { name: /Pay Rate/ }),
     ).not.toBeInTheDocument();
   });
 
-  it('shows dynamic Pay Rate helper text based on salary type', async () => {
+  it('shows dynamic Pay Rate label and helper text based on salary type', async () => {
     const { findByRole, findByText, rerender } = renderSetup({
       calculationMock: fullTimeSalariedMock,
     });
 
-    await findByRole('spinbutton', { name: 'Pay Rate' });
+    await findByRole('spinbutton', { name: 'Annual Pay Rate' });
     expect(await findByText('Enter yearly salary')).toBeInTheDocument();
+    expect(await findByText('per year')).toBeInTheDocument();
 
     rerender(setupTree({ calculationMock: fullTimeHourlyMock }));
 
+    await findByRole('spinbutton', { name: 'Hourly Pay Rate' });
     expect(await findByText('Enter hourly rate')).toBeInTheDocument();
+    expect(await findByText('per hour')).toBeInTheDocument();
   });
 
   it('403b field is disabled', async () => {
diff --git a/src/components/HrTools/PdsGoalCalculator/Setup/SetupStep.tsx b/src/components/HrTools/PdsGoalCalculator/Setup/SetupStep.tsx
index ac4ba6cea4..83d60fd6fd 100644
--- a/src/components/HrTools/PdsGoalCalculator/Setup/SetupStep.tsx
+++ b/src/components/HrTools/PdsGoalCalculator/Setup/SetupStep.tsx
@@ -107,6 +107,8 @@ export const SetupStep: React.FC = () => {
   const payRateHelperText = isSalaried
     ? t('Enter yearly salary')
     : t('Enter hourly rate');
+  const payRateLabel = isSalaried ? t('Annual Pay Rate') : t('Hourly Pay Rate');
+  const payRateUnitSuffix = isSalaried ? t('per year') : t('per hour');
 
   const handleOpenHoursCalculator = () => {
     setRightPanelContent(
@@ -235,11 +237,16 @@ export const SetupStep: React.FC = () => {
               <AutosaveTextField
                 fieldName="payRate"
                 schema={schema}
-                label={t('Pay Rate')}
+                label={payRateLabel}
                 type="number"
                 helperText={payRateHelperText}
                 InputProps={{
                   startAdornment: <CurrencyAdornment />,
+                  endAdornment: (
+                    <InputAdornment position="end">
+                      {payRateUnitSuffix}
+                    </InputAdornment>
+                  ),
                 }}
               />
             </Grid>