Last updated Mar. 24, 2024 by Jessica Green
Hourly wages can be deceptive at times. It prevents you from seeing the full picture of how much you make in a year.
In this article, we will provide a step-by-step guide on how to calculate how much an hourly wage is in a year. So if you earn $15 an hour, here’s how much it is in a year.
$15 An Hour Is How Much A Year
If you work an average of 40 hours per week, you’ll earn $31,200 with a $15 an hour wage.
In a year, there are 52 weeks. If you work 40 hours each week, it means the total number of hours you’ll work in a year is 2080 hours.
Number of hours in a year × Number of weeks in a year
= 40 hours × 52 weeks = 2080 hours.
Therefore, the total number of hours you’ll work in a year is 2080 hours.
Since you make $15 an hour, you can get the amount of money you make in a year by multiplying $15 by the total number of hours you work in a year.
$15 × 2080 hours = $31,200
Thus, if you make $15 an hour, you’ll make a total of $31,200 before taxes.
$15 An Hour With Overtime Is How Much A Year
Overtime is the extra hours you work. So if you work longer than eight hours in a day, you’ll receive compensation at the overtime rate.
Overtime rate is often 1.5 times higher than your regular payment rate. Since you make $15 an hour, your overtime payment will be $22.50 an hour.
$15 × 1.5 = $22.50
Here’s how to calculate how much you make in a year if you work overtime.
If you worked 50 hours a week instead of the normal 40 hours, you’ll receive overtime payment for the extra 10 hours you worked.
Regular hours worked = $15 an hour x 40 hours = $600
10 overtime hours = $22.50 x 10 = $225
$600 + $225 = $825 per week.
If you keep working 50 hours a week (40 normal working hours plus 10 hours overtime), here’s how to calculate how much you will earn in a year.
$825 in a week x 52 weeks in a year = $42,900.
Thus, if you make $15 an hour and work overtime for 10 hours, you’ll make $42,900.
$15 an hour without extra time is $31,200, while $15 an hour with ten hours of overtime pay is $42,900.
The below table considers different overtime hours and how much you will earn in a year with a $15 hourly rate.
Overtime Hours | Hours Per Week | Weekly Earnings | Yearly Earnings |
|---|---|---|---|
0 | 40 | $600 | $31,200 |
1 | 45 | $712.50 | $37,050 |
2 | 50 | $825 | $42,900 |
3 | 55 | $937.50 | $48,750 |
4 | 60 | $1,050 | $54,600 |
5 | 65 | $1,162.50 | $60,450 |
6 | 70 | $1,275 | $66,300 |
Part-time $15 An Hour Is How Much A Year
Part-time means fewer hours of work. If you work less than the standard 40 hours per week, it means you work part-time.
Here’s how to calculate your part-time payment if you earn $15 an hour.
Weekly Earning: Hourly Wage Rate × Number of Part-time Hours Worked In A Week
For example, if you work part-time for 25 hours a week, you’ll make $375 in a week.
$15 an hour × 25 hours part-time = $375
Yearly Earning: Weekly Pay × Number of Weeks In A Year
= $375 × 52 Weeks = $19,500
So if you’re paid $15 an hour, and work part-time for 25 hours a week, you’ll make $19,500 in a year.
$15 An Hour Is How Much A Month
It can get a bit technical when you calculate how much your hourly wage is in a month.
Most people calculate their monthly wage by using the below method.
Hourly Wage × Number of Hours Worked In A Week × 4 Weeks In A Month
If you use the above method to calculate your monthly income, you’ll have:
$15 × 40 Hours Per Week × 4 Weeks In A Month
= $2,400 monthly pay.
The above method is not wrong. However, it does not give an accurate amount. In a month, there are four weeks and a few days, but the above calculation does account for this.
To get a more accurate figure, divide your yearly income by the number of months in a year.
Since you’re paid $15 an hour, your yearly income before taxes is $31,200.
$31,200 ÷ 12 months = $2,600
Thus, $15 an hour is $2,600 monthly.
Another Interesting Article: 5 Ways to Increase Your Net Worth by $100,000
How Much Is $15 An Hour For 40 Hours A Week
Forty hours is the standard number of working hours in a week. So if you’re paid $15 an hour, you’ll make $600 in a week.
Here’s how to calculate it.
Hourly Wage Rate × Total Number of Hours Worked In A Week
= $15 × 40 Hours
= $600 per week.
$15 An Hour Is How Much Bi-weekly
Bi-weekly means two weeks. To calculate how much you make in two weeks, multiply your hourly wage by the total number of hours you work in two weeks.
If you work for 40 hours in a week without overtime, it means you’ll work a total of 80 hours in two weeks.
$15 an hour × 80 hours in two weeks = $1,200.
Thus, $15 an hour is $1,200 bi-weekly before taxes.
$15 An Hour Is How Much A Day
If you make $15 an hour, you’ll earn a total of $120 in a day before taxes.
$15 × 8 hours a day = $120.
Eight hours is the standard number of working hours in a day.
Use this calculator to calculate your hourly to salary income.
Key Takeaways for $15 Hourly Wage
Here’s a summary of the calculations above:
- $15 an hour is $31,200 in a year before taxes.
- With 10 hours of overtime pay, $15 an hour is $42,900 in a year.
- If you work part-time for 25 hours a week, you’ll make $19,500 in a year
- $15 an hour is $2,600 in a month
- In a week with 40 hours of working time, $15 an hour is $600
- $15 an hour is $1,200 bi-weekly
- $15 an hour is $120 in a day
15 Jobs That Pay $15 an Hour
The following jobs pay $15 and above for each hour that you work:
- Painter
- Tutor
- Fitness Instructor
- Medical Assistants
- Freelance Writer
- Food Delivery Driver
- Graphics Designer
- Construction Worker
- Dog Walker or Pet Sitter
- Rideshare Driver
- Real Estate Agent
- Transcriptionist
- Plumber
- Vet Tech
- Grocery Check-out Clerk
10 Jobs that Pay $15 An Hour Online
- Remote Accountant or Bookkeeper
- Blogging
- Social Media Manager
- App Developer
- Copywriting
- Content Creation (TikTok, YouTube, Instagram)
- Product Reviewer
- Data Entry
- Online Tutor
- Translation
Another Interesting Article: Top 15 Reasons To Get A Second Job
Conclusion
The above article guides you on how to calculate your yearly, monthly, weekly, part-time, and overtime income before taxes. To know your after-tax income, research the federal, state, local, and FICA income tax rates in your country.
Frequently Asked Questions On $15 An Hour
How Much Is $15 an Hour 20 Hours A Week?
If you’re paid $15 an hour and work 20 hours a week, you’ll make $300 – this is done by multiplying the number of hours worked (20 hours) by the hourly wage rate ($15 an hour).
Is $15 An Hour A Good Pay?
$15 an hour is a livable wage depending on your country of residence. If you reside in the U.S., you might need to find an extra source of income to support your $ 15-an-hour wage.
How To Make $15 An Hour?
To make $15 an hour, get a job that pays such an amount. Some jobs that pay $15 an hour include Food delivery driver, freelance writer, administrative assistant, and more.
