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$60000 a Year Is How Much an Hour? Is This a Good Salary?



Your fresh offer letter says you’ll make $60,000 a year—and you can’t help but wonder how much you’ll earn an hour, a day, and a week. What will your lifestyle look like? And how much of this will go toward the dreaded taxes?

We’ll break down all the key details of a $60,000 yearly salary, including how much is 60,000 a year per hour, paid time off, taxes you owe, and other similar wages.

Similar articles on financial goals:

How Much is 60,000 a Year Per Hour?

If you earn 60,000 dollars per year, your hourly wage is $28.85. 

We arrived at this figure by multiplying your base salary by the number of hours, weeks, and months you’ve worked in a year (presuming you work eight hours a day, five days a week).

To make out the hourly wage for $60,000 per year, we’ll divide the total annual pay by the number of hours you’ve worked in a year. 

The federal government measures hourly wages on a labor year of 2,087 hours, so we’ll do the same. And based on that number, the hourly wage for a $60,000-a-year job is $28.85. 

How Much an Hour is 60,000 a Year: Hourly, Weekly, and Monthly Breakdown

Let’s discuss what $60,000 will get you in an hour, a week, and a month—for a full-time job as well as a part-time side hustle.

$60,000 a year at a full-time job (40 hours a week) is:

  • $28.85 per hour
  • $1,154 per week
  • $5,000 per month

If you work part-time at 20 hours per week, your hourly rate jumps to $57.69—so it all depends on how many hours you’re putting in.

$60,000 a Year is How Much Biweekly?

Let’s say you’re working a traditional 40-hour-a-week job. 

There are 52 weeks in a year—so an annual salary of $60,000 will earn you $1,154 per week ($60,000 divided by 52). 

To find the biweekly figure, you want to double your weekly salary or divide the $60,000 by 26 weeks—giving you a biweekly pay of $2,308.

You can also consider how many hours in 2 weeks you’re working. For a full-time job that would be 80 hours, so you’d make $2,308 ($28.85 times 80).

Factors that Affect 60k Salary Hourly Conversion

We took the easy way out by calculating the hourly wage of a $60,000 salary based on the government’s standard work year of 2,087 hours. 

But in reality, your hourly wage can be higher or lower depending on two key factors. Here’s why—

1. How many hours in a year are you working?

It’s simple—the fewer hours you work, the higher you’re paid per hour. 

So, if you work part-time and make $60,000 per year, your hourly wage is significantly higher than that of a full-time employee in the same salary job

Let’s assume you work only 30 hours per week. If you work 52 weeks per year, your hourly wage is about $38.46.

On the other hand, if you work longer than a standard work week, your hourly wage will be lower. 

Many salaried US workers are forced to work for over 50 hours a week without overtime pay. If you’re one of these folks, you’re only making $23.08 per hour.

2. Paid time off

Another factor that affects your hourly wage is the amount of vacation time you get at work.

Part-time and side gig workers typically have the short end of the stick and don’t get paid time off. But if you work full-time, you almost certainly (or hopefully) have access to some vacation time. 

Now because you’re working fewer days to make your $60,000 salary, you’re hourly pay goes up significantly. 

Check out the table below to see it all pan out: 

Paid days off

Working hours

Hourly wage

0

2,087

$28.75

1

2,079

$28.86

2

2,071

$28.97

3

2,063

$29.08

4

2,055

$29.20

5

2,047

$29.31

10

2,007

$29.90

15

1,967

$30.50

20

1,927

$31.14

25

1,887

$31.80

30

1,847

$32.49

Note

These numbers assume the federal government’s standard 2,087-hour work year and eight-hour work days.

How Much is 60k a Year After Taxes?

And now for the dreaded taxes

Here are two key taxes you should consider to understand how much of your $60,000 salary you’ll actually pocket—

Federal taxes

Currently, there are seven federal income tax brackets for individuals: 10%, 12%, 22%, 24%, 32%, 35%, and 37%. 

Remember, this is a progressive tax code—the amount of taxes you pay depends on the income bracket where your wages fall. 

For example, when earning $60,000 per year as a single filer, you pay 10% on the first $11,000, 12% on your wages between $11,000 and $44,725—and 22% on the rest. 

This adds up to $1,862 in federal income tax on an earned income of $31,200 a year, so your salary after federal tax would be $54,032. 

Sadly, that’s not all. You still have to pay state taxes.

State taxes

Here’s where things get a little complicated.

The amount of state taxes you pay will depend on the state you live in and how you’re filling. These figures can vary significantly from one state to another.

How significant are we talking about? 

Let’s compare 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%. 

While you owe zero state taxes in Florida, you’ll pay approximately $4,194 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

$49,442

Oklahoma

21.5%

$2,360

$47,082

California

22.8%

$2,435

$46,347

New York

22.9%

$2,864

$46,240

South Carolina

23.8%

$3,699

$45,743

Connecticut

25.1%

$4,194

$44,948

The people of Florida aren’t the only lucky ones. If you’re working in one of these eight states, you won’t have to pay any 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.

How Much Do I Make an Hour: Similar Hourly Wages Calculated

So you’re making about $28 per hour. It’s only natural to wonder what your annual income would look like if you made a dollar or two more every single hour. 

And what if you made less than 28 dollars? Would your annual pay look a lot different? 

Let’s find out—

Hourly wages

Annual salary

$16 an hour is how much a year

$33,280

$20 an hour is how much a year

$41,600

$24 an hour is how much a year

$49,920

$27 an hour is how much a year

$56,160

$28 an hour is how much a year

$58,240

$30 an hour is how much a year

$62,400

$31 an hour is how much a year

$64,480

How Much is My Paycheck? Annual Salary to Hourly Conversions

We’re all wired differently. And while some of us comprehend our salaries better when they’re annual figures, the rest may prefer hourly calculations. 

No matter which way you swing, here’s a detailed table with wages similar to $60,000 a year:

Annual salary

Hourly wages

$30,000 a year is how much an hour

$14.42

$35,000 a year is how much an hour

$16.83

$40,000 a year is how much an hour

$19.23

$45,000 a year is how much an hour

$21.63

$47,000 a year is how much an hour

$22.60

$50,000 a year is how much an hour

$24.04

$65,000 a year is how much an hour

$31.25

$70,000 a year is how much an hour

$33.65

$80,000 a year is how much an hour

$38.46

$90,000 a year is how much an hour

$43.27

$100,000 a year is how much an hour

$48.08

Top 50+ Jobs that Make 60k a Year

Is $60,000 your dream salary? We’re going to help you secure that bag with a whopping list of 50+ jobs that pay $60k or more. 

The best part? Most of these jobs don’t require a college degree or work experience.

Job title

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

Makeup artist

$29,000–$65,000

Power distributor

$28,000–$100,000

Waste collector

$28,000–$100,000

Manufacturing sales representative

$27,000–$100,000

Chef

$27,000–$81,000

Flight attendant

$18,000–$100,000

Source: Glassdoor.com

More great job ideas:

Key Takeaways

Summary

  • If you earn $60,000 per year, your hourly wage is $28.85 (assuming you’re working 40 hours per week or eight hours a day). That means you’re making $1,154 weekly, $2,308 biweekly, and around $5,000 monthly.
  • If you’re working part-time, you make a significantly higher hourly wage—$57.69 an hour.
  • You want to account for two key types of taxes (federal and state ones) to understand how much of the $60,000 you’ll actually pocket.
  • 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

It’s time to answer some commonly asked questions you may have if you’re earning 60,000 dollars a year.

1. What is a good salary?

A decent paycheck lets you comfortably live your desired lifestyle. 

Want to see what your paycheck is actually worth? Consider factors like where you live, the number of people you support, and your industry. 

We get it. It’s tempting to compare your salary directly against somebody else—but this approach will ignore one or more of these key influences.

It may help to know the average salary in the US right now. Recent data from the US Bureau of Labor Statistics suggests the annual mean wage for a full-time employee is $53,490 per year ($1,028 a week).

2. Is $60,000 a Year a Good Salary?

We’ve all had moments where we’ve wondered if our salary is decent or if we’re underpaid. 

Where does a $60,000 salary leave you? 

Levon L. Galstyan, a certified public accountant at Oak View Law Group, says “$60,000 a year is generally considered a good salary for many Americans. However, the perception can largely vary depending on location, industry, and cost of living. 

For example, Kalamazoo, Michigan has one of the lowest costs of living in the US—it’s about 24% below the national average. So if you’re earning $60,000 in Kalamazoo, you’d need to make more than $202,000 a year to maintain the same lifestyle in New York City, which has a 155% higher cost of living than the national average.

Additionally, individual financial circumstances—such as debt or expenses—can affect whether $60,000 a year is a good salary for a specific person.

3. How much rent can I afford on $60k?

The amount of rent you can afford on a salary of $60,000 per year depends on several factors, including your other expenses and the level of savings you want to have.

As a rule of thumb, you don’t want to spend more than 30% of your gross monthly income on rent. 

On a salary of 60,000 dollars per year, your gross monthly income would be approximately $5,000—so you should aim to spend under $1,500 monthly on rent.

Of course, you’ll need to consider your other expenses such as utilities, transportation, groceries, and debt payments when crafting your overall monthly budget.

4. I make $60,000 a year. What car can I afford?

Experts recommend spending no more than 10%-15% of your gross monthly income on car-related expenses (including car payments, insurance, and maintenance costs).

Assuming you have no significant debt payments and can save for retirement and emergencies, you can afford a car with a monthly payment of around $500.

Another general advice is to buy a new or used car that’s worth under 35% of your annual income. So the ballpark figure would be $21,000 for someone on a $60,000-a-year salary. 

The actual amount you can afford may vary depending on factors like your credit score, down payment amount, and the interest rate on your loan.

5. How to increase your hourly wage?

This may seem like the most obvious advice, but the best way to increase your hourly wage is to ask for a raise. 

Dr. Kyle Elliott, founder and career coach of CaffeinatedKyle.com, shared some tips on how to go about this, “Data is critical when negotiating your salary at work. Have the data to prove you’re uncompensated compared to your peers? This can be a good place to start when requesting an increase in your salary. Plus, if your work directly or indirectly impacted the top or bottom line, you can use this data when requesting a raise.

Eva Chan, a certified professional resume writer, recommends upskilling, “Developing new skills that are in demand in your industry will help you advance in your career. You can take online courses and certifications, or participate in training programs. When you have valuable skills that your employer needs, you become more marketable and can negotiate a higher salary.”

If neither of these strategies is an option, try your hand at earning passive income. A bit of time, effort, or money upfront, can build you a stable income stream for life. 

You can start by investing in stocks and bonds that send regular dividends or interest payouts.

Another way to earn passive income is by investing in real estate. There are many ways to do this, including renting out your rental property or investing in real estate investment trusts (REITs)

Other passive income ideas include:

  • Selling a digital product
  • Affiliate marketing
  • Peer-to-peer lending
  • Setting up a dropshipping business
6. $60,000 a year is how much an hour without vacation time?

Without vacation time, $60,000 is around $28.85 per hour. 

If you work complete 40-hour weeks for 52 weeks, you’ll have worked a total of 2,080 hours in a year. So $60,000 per year split by 2,080 equals $28.85 per hour.

To get a more accurate image of your hourly wage, ensure you’re factoring in holidays, paid time off, taxes, social security, and employer-sponsored health insurance.

7. What’s the total number of working hours in 2023?

In 2023, there are 260 working days—totaling 2,080 working hours. 

This is usually always the case, except for some years when you have 262 working days because of the way weekends fall.

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/

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/

New Hampshire Tax Rates & Rankings | NH State Taxes | Tax Foundation. (n.d.). Retrieved April 4, 2023, from https://taxfoundation.org/state/new-hampshire/

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

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