For a while now, policymakers have been loud about increasing the federal minimum wage from $7.25 per hour to $15 an hour. This move would raise the minimum wage yearly salary to $31,200. Over 62% of Americans also back this idea. If this change could affect you directly, you may wonder if a $15-an-hour salary is good enough.
We’re here to break it all down for you. $15 an hour is how much a year? What will you make after taxes? Is this enough money to live on?
Read on to find out—
Check out our budgeting tools and articles:
How Much is 15 Dollars an Hour Annually?
If you earn $15 an hour, your annual salary is $31,200.
You can figure out your annual salary by multiplying your hourly wage by the number of hours you work per year. If you’re a full-time employee, you probably have a standard 40-hour workweek.
The federal government measures hourly wages on a labor year of 2,087 hours (40 hours a week x 52 weeks a year) for full-time workers like yourself.
We’ll do the same—so a $15 per hour salary adds up to $31,200 a year ($15 x 2,080 hours).
$15 an Hour is How Much a Month
If you make $15 per hour, your monthly salary would add up to $2,600.
We’ve arrived at this figure by multiplying your base salary by the number of hours and weeks you work in a month, assuming you work 40 hours a week ($15 x 40 hours x 4 weeks).
15 Dollars an Hour is How Much a Week
If you make $15 per hour, your weekly salary would be $600.
We’re assuming you work 40 hours a week, and we’re multiplying your base salary by this number ($15 x 40 hours).
If you work part-time—let’s say 20 hours—your weekly pay will reduce by half, adding up to $300 a week ($15 x 20 hours).
$15 an hour is how much biweekly?
You can simply double your weekly pay to arrive at this figure. In this case, it would be $1,200 biweekly, presuming you’re working 40 hours a week.
This amount will come down to $600 biweekly if you’re working part-time (20 hours a week).
How Much Do I Make a Year: Annual Income for Wages Similar to 15 an hour
So you make around $15 per hour. It’s easy to speculate what your annual income would look like if you made an extra dollar or two every hour.
What if your paycheck was less—or more—than $15? Would your annual salary look a lot different?
Let’s find out—
|
Hourly wages |
Annual salary |
|
10 dollars an hour |
$20,800 |
|
11 dollars an hour |
$22,880 |
|
13 dollars an hour |
$27,040 |
|
14 dollars an hour |
$29,120 |
|
16 dollars an hour |
$33,280 |
|
17 dollars an hour |
$35,360 |
|
17.25 dollars an hour |
$35,880 |
|
19 dollars an hour |
$39,520 |
|
20 dollars an hour |
$41,600 |
|
21 dollars an hour |
$43,680 |
|
23 dollars an hour |
$47,840 |
|
27 dollars an hour |
$56,160 |
|
35 dollars an hour |
$72,800 |
|
55 dollars an hour |
$114,400 |
|
100 dollars an hour |
$208,000 |
Read more:
How Much a Year is $15 an Hour: Annual Salary to Hourly Conversions
Think you can get your head round annual salaries better when they’re hourly figures? We’ve got you covered.
Here’s a detailed table with wages similar to a $15 per hour annual salary:
|
Annual salary |
Hourly wages |
|
$30,000 a year |
$14.42 |
|
$40,000 a year |
$19.23 |
|
$51,000 a year |
$24.52 |
|
$57,000 a year |
$27.40 |
|
$60,000 a year |
$28.85 |
|
$70,000 a year |
$33.65 |
|
$80,000 a year |
$38.46 |
|
$90,000 a year |
$43.27 |
|
$100,000 a year |
$48.08 |
Top Jobs Paying 15 an Hour
We sure hope the minimum wage salary per year increases soon. But until then, let’s break down what jobs pay 15 an hour.
The best part? You can bag these jobs without a degree or work experience—
|
15 dollars an hour jobs (full-time) |
Annual salary |
|
Air traffic controller |
$89,000–$200,000 |
|
Dental hygienist |
$63,000–$100,000 |
|
Radiation therapist |
$62,000–$100,000 |
|
MRI technician |
$59,000–$100,000 |
|
Commercial pilot |
$53,000–$100,000 |
|
Railroad conductor |
$51,000–$100,000 |
|
Petroleum pump operator |
$51,000–$79,000 |
|
Hearing aid specialist |
$48,000–$100,000 |
|
Boilermaker |
$48,000–$80,000 |
|
Criminal investigator |
$47,000–$200,000 |
|
Subway operator |
$42,000–$200,000 |
|
Instrument technician |
$42,000–$100,000 |
|
Police officer |
$42,000–$95,000 |
|
Casino manager |
$41,000–$100,000 |
|
Patternmaker |
$41,000–$100,000 |
|
Electrician |
$41,000–$99,000 |
|
Model maker |
$41,000–$94,000 |
|
Interior designer |
$41,000–$86,000 |
|
Claims adjuster |
$41,000–$77,000 |
|
Real estate broker |
$40,000–$200,000 |
|
Plumber |
$40,000–$100,000 |
|
Aircraft mechanic |
$40,000–$89,000 |
|
Welding supervisor |
$40,000–$88,000 |
|
Wind turbine technician |
$40,000–$75,000 |
|
Truck driver |
$39,000–$96,000 |
|
Computer support specialist |
$39,000–$85,000 |
|
Massage therapist |
$38,000–$200,000 |
|
Website developer |
$38,000–$100,000 |
|
Ranch manager |
$38,000–$100,000 |
|
Career coach |
$38,000–$72,000 |
|
Ironworker |
$36,000–$89,000 |
|
Fire inspector |
$36,000–$86,000 |
|
Farm labor contractor |
$36,000–$71,000 |
|
Elevator technician |
$35,000–$100,000 |
|
Avionics technician |
$35,000–$85,000 |
|
Funeral service manager |
$35,000–$75,000 |
|
Medical sales representative |
$34,000–$98,000 |
|
Gas plant operator |
$34,000–$98,000 |
|
Insurance sales agent |
$33,000–$100,000 |
|
Food service manager |
$33,000–$73,000 |
|
Firefighter |
$32,000–$91,000 |
|
Court reporter |
$32,000–$91,000 |
|
Yoga instructor |
$32,000–$82,000 |
|
Rigger |
$32,000–$65,000 |
|
Social services assistant |
$32,000–$60,000 |
Check out these articles for more job ideas:
Top Part-time Jobs Paying 15 an Hour
Looking for a side hustle that only requires a couple of hours of work every day? Here’s a compilation of part-time side gigs that pay at least $15 an hour:
|
15 dollars an hour jobs (part-time) |
Hourly pay |
|
$172–$227 |
|
|
Rent your pool |
$30–$60 |
|
Write an ebook |
$30–$40 |
|
Advertise on your car |
$25–$28 |
|
Proofread |
$21–$35 |
|
Flip websites |
$20–$29 |
|
Rent on Airbnb |
$20–$228 |
|
Own a vending machine |
$20–$28 |
|
Babysit |
$20–$25 |
|
Start a YouTube channel |
$19–$29 |
|
Deliver packages on Amazon Flex |
$18–$25 |
|
Start a food truck |
$17–$25 |
|
Become a bookkeeper |
$16–$25 |
|
Write resumes |
$16–$24 |
|
Start freelancing |
$15–$66 |
|
Tutor online |
$15–$38 |
|
Become an Instagram influencer |
$15–$20 |
|
$15–$20 |
|
|
Rent out your car |
$15–$19 |
For more part-time job and side hustle ideas, check out:
15 Dollars an Hour (40 hours a Week) After Taxes
You might be already dreading this part, but discussing taxes is key to knowing exactly how much of your salary you’re pocketing.
So, $15 an hour is how much a year after taxes? Well, you’ll need to consider both federal and state taxes to get an accurate estimate.
Let’s dive in—
Federal taxes on 15 dollars an hour jobs
Individual taxpayers currently have seven federal income tax brackets: 10%, 12%, 22%, 24%, 32%, 35%, and 37%.
Remember this is a progressive tax system, which means the amount of tax you pay depends on the income bracket in which your wages fall.
For example, when earning $31,200 per year as a single filer, you pay 10% tax on the first $9,950, and 12% tax on the next $30,575.
This adds up to $5,968 in federal taxes, so your salary after paying federal income tax would be $29,338.
But that’s not all. You still have to pay state taxes—
State taxes on 15 dollars an hour jobs
How much state tax do you owe? That depends on the state you live in and how you’re filling.
What do we mean by that?
Here’s a comparison of two states at opposite ends of the tax spectrum—Florida with the lowest average tax rate of 17.6% and Connecticut with the highest average tax rate of 25.1%.
For an annual income of $31,200, you’ll pay $0 state taxes in Florida and approximately $2,181 in Connecticut.
Here’s a breakdown of how state taxes vary in the US:
|
State |
Average tax rate |
State tax |
Net take-home salary |
|
Florida |
17.6% |
$0 |
$26,829 |
|
California |
22.8% |
$573 |
$25,913 |
|
Oklahoma |
21.5% |
$992 |
$25,837 |
|
New York |
22.9% |
$1,179 |
$25,459 |
|
South Carolina |
23.8% |
$1,683 |
$25,145 |
|
Connecticut |
25.1% |
$2,181 |
$24,492 |
Folks in Florida aren’t the only lucky ones. If you’re working in one of these eight states, you won’t pay state income tax:
- Alaska
- Nevada
- New Hampshire
- South Dakota
- Tennessee
- Texas
- Washington
- Wyoming
Note
Although New Hampshire won’t tax wages, the state does tax income from dividends and interest. Washington applies a flat income tax to high-earners’ capital gains.
Key Takeaways
Summary
- If you earn $15 an hour, your annual salary is $31,200 (assuming you’re working 40 hours per week or eight hours a day). That means you’re making $600 weekly, $1,200 biweekly, and around $5,000 monthly.
- If you work part-time for 20 hours a week or 1,040 hours a year, your annual pay would reduce by half and come to $15,600 yearly ($15 multiplied by 1,040 hours).
- You want to account for two key types of taxes (federal and state ones) to see how much of the $31,200 you’ll pocket annually.
- Federal taxes have a progressive tax code, so the amount of taxes you pay depends on the income bracket where your wages fall. Currently, there are seven income tax brackets for individuals: 10%, 12%, 22%, 24%, 32%, 35%, and 37%.
- The amount of state tax you pay will depend on where you work. You’ll pay nothing if you work in Florida, Alaska, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, or Wyoming.
FAQ
1. 15 dollars an hour full time is how much a year?
What is $15 an hour annually? As a full-time employee, you’ll probably work 2,080 hours a year, assuming your workweek has 40 hours (40 hours a week x 52 weeks a year = 2,080 hours a year). So if you’re making $15 per hour, your annual pay adds up to $31,200 ($15 x 2,080 hours).
2. $15 an hour part-time is how much a year?
If you work part-time—let’s say 20 hours a week—you’re working half as much as a full-time employee in an annual labor year. This comes to 1,040 hours (2,080 hours divided by two), reducing your annual pay by half to $15,600 yearly ($15 x 1,040 hours).
3. How to figure out how much you make a year?
To figure out your annual salary, multiply your gross pay (before taxes) by the number of pay periods in a year.
For instance, if you’re making $15 an hour, your annual gross income would be $15 x 2,080 hours = $31,200. Making $600 a week? Simply multiply this figure by the weekly pay periods in a year—that’s $600 x 52 weeks = $31,200.
But these figures represent your gross annual income. To find out your actual take-home salary, subtract the amount of taxes (federal and state) you owe from your annual pay.
4. Is 15 dollars an hour good?
Whether $15 an hour is a good salary depends on your individual needs but in general, it isn’t easy to get by in most of America on this pay scale.
For example, if two adults work 40 hours a week and make $15 an hour, their combined annual income for 15 an hour would be $62,400 before taxes. That’s below what the Economic Policy Institute estimates as a living wage for most of the country.
5. What is time and a half of 15?
The Fair Labor Standards Act now requires employers to pay you a “time-and-a-half” pay if you work overtime—meaning the standard overtime rate is 1.5 times your regular hourly wage. So for a regular pay of $15 per hour, your overtime rate is $22.50 per hour ($15 x 1.5).
6. Is $15 an hour enough to live on?
Whether $15 per hour is enough to live on depends on a variety of factors, including your location, expenses, lifestyle, and personal financial goals. But bear in mind that it may be difficult to cover all essential expenses, such as housing, food, transportation, healthcare, and utilities, with this income alone.
In fact, a report from USAFacts shows that single-earner households making $15 an hour would take two years working every weekday to make what the average family spends annually.
Living on $15 an hour is challenging, but not impossible. Natalie Warb, a financial expert at CouponBirds, shares some tips, “Reviewing what items are luxury and essential can also help people on lower incomes. You shouldn’t be prioritizing things like subscriptions, new clothing, and technology unless absolutely necessary. Create a strict budget to ensure you have enough to get through the entire month.”
Kendall Meade, a financial planner at SoFi, shares a cool budgeting hack, “If you’re creating a budget for the first time, the 50/30/20 method can be a great starting point. With this rule, you’ll aim to spend 50% on essentials (housing, insurance, minimum debt payments, etc.), 30% on discretionary expenses (dining out, entertainment, etc.), and 20% towards your goals (retirement, emergency funds, etc.).”
Make budgeting as easy as eating cake with our free budget calculator, free monthly budget template, and free monthly and weekly budget planners.
7. What is the average part-time salary in the US?
The Bureau of Labor Statistics says that the median weekly earnings of part-time workers in 2022 was $340. That gives an hourly rate of $8.50 and an annual salary of $17,000 before taxes.
Seems too little? Mary Guirovich, career strategist and founder of My Promotion Plan, points out that tons of part-time jobs pay over 15 an hour. She says, “Many part-time jobs are now starting at $15 an hour, including car wash attendant, food service cook, host, dishwasher, hotel housekeeper, front desk clerk, retail store associate, stocker, customer service representative, Instacart delivery driver, and more. If you have experience, you can leverage it to start above $15 an hour. Ensure you consider what you want for the future, as a part-time job can turn into a full-time career.”
For more side hustle ideas, check for job opportunities on the best side hustle apps and gig apps in 2023.
Sources
See all
2022 Sales Tax Rates: State & Local Sales Tax by State | Tax Foundation. (n.d.). Retrieved April 4, 2023, from https://taxfoundation.org/2022-sales-taxes/
Department of Taxation and Finance. (n.d.). Retrieved April 4, 2023, from https://www.tax.ny.gov/
Donovan, S. A. (n.d.). The Fair Labor Standards Act (FLSA): An Overview.
Florida Tax Rates & Rankings | Florida State Taxes | Tax Foundation. (n.d.). Retrieved April 4, 2023, from https://taxfoundation.org/state/florida/
How does Washington’s tax code compare? (n.d.). Tax Foundation. Retrieved April 4, 2023, from https://taxfoundation.org/state/washington/
How to Compute Rates of Pay. (n.d.). U.S. Office of Personnel Management. Retrieved April 4, 2023, from https://www.opm.gov/policy-data-oversight/pay-leave/pay-administration/fact-sheets/how-to-compute-rates-of-pay/
Internal Revenue Service | An official website of the United States government. (n.d.). Retrieved April 4, 2023, from https://www.irs.gov/
Living standards and labor. (n.d.). Economic Policy Institute. Retrieved April 12, 2023, from https://www.epi.org/news/labor/
New Hampshire Tax Rates & Rankings | NH State Taxes | Tax Foundation. (n.d.). Retrieved April 4, 2023, from https://taxfoundation.org/state/new-hampshire/
Raising the federal minimum wage to $15 by 2025 would lift the pay of 32 million workers: A demographic breakdown of affected workers and the impact on poverty, wages, and inequality | Economic Policy Institute. (n.d.). Retrieved April 12, 2023, from https://www.epi.org/publication/raising-the-federal-minimum-wage-to-15-by-2025-would-lift-the-pay-of-32-million-workers/
SOI Tax Stats—Individual Income Tax Return (Form 1040) Statistics | Internal Revenue Service. (n.d.). Retrieved April 4, 2023, from https://www.irs.gov/statistics/soi-tax-stats-individual-income-tax-return-form-1040-statistics
Usual Weekly Earnings of Wage and Salary Workers Fourth Quarter 2022. (n.d.).
What does $15 an hour buy? (n.d.). USAFacts. Retrieved April 12, 2023, from https://usafacts.org/articles/minimum-wage-15-day/
