$15 an Hour Is How Much a Year?
That is $2,600.00 a month, $1,200.00 every two weeks, $600.00 a week and $120.00 for an 8-hour day. $15 an hour is 2.1 times the federal minimum wage of $7.25 (DOL). At this level, many workers look at extra hours or a second part-time job; the overtime table below shows how much each extra hour adds.
$15 an hour on different schedules
| Schedule | Per year | Per month | Biweekly | Per week |
|---|---|---|---|---|
| Full-time, 40 h/week, 52 weeks | $31,200.00 | $2,600.00 | $1,200.00 | $600.00 |
| Full-time, 40 h/week, 50 paid weeks | $30,000.00 | $2,500.00 | $1,200.00 | $600.00 |
| 37.5 h/week, 52 weeks | $29,250.00 | $2,437.50 | $1,125.00 | $562.50 |
| Part-time, 30 h/week | $23,400.00 | $1,950.00 | $900.00 | $450.00 |
| Part-time, 20 h/week | $15,600.00 | $1,300.00 | $600.00 | $300.00 |
Weekly pay with overtime at $15/hour
Hours over 40 in a week at time and a half ($22.50 per overtime hour):
| Hours worked | Weekly gross | If every week (×52) |
|---|---|---|
| 40 h | $600.00 | $31,200.00 |
| 42 h | $645.00 | $33,540.00 |
| 45 h | $712.50 | $37,050.00 |
| 50 h | $825.00 | $42,900.00 |
| 55 h | $937.50 | $48,750.00 |
| 60 h | $1,050.00 | $54,600.00 |
How $15/hour compares with nearby wages
| Hourly | Per year (2,080 h) | Difference vs $15 |
|---|---|---|
| $12/h | $24,960.00 | $-6,240.00 |
| $13/h | $27,040.00 | $-4,160.00 |
| $14/h | $29,120.00 | $-2,080.00 |
| $15/h | $31,200.00 | +$0.00 |
| $16/h | $33,280.00 | +$2,080.00 |
| $17/h | $35,360.00 | +$4,160.00 |
| $18/h | $37,440.00 | +$6,240.00 |
Each $1/hour raise is worth $2,080 a year for a full-time worker.
Housing benchmark
A household that spends more than 30% of its income on housing is considered "cost burdened" by HUD (HUD). At $15/hour full time, 30% of gross income is $780.00 a month.
How long to earn…
| Amount | Hours at $15/h | 8-hour days |
|---|---|---|
| $500.00 | 33.3 h | 4.2 days |
| $1,000.00 | 66.7 h | 8.3 days |
| $2,500.00 | 166.7 h | 20.8 days |
| $5,000.00 | 333.3 h | 41.7 days |
Try other numbers with the hourly to salary calculator. Nearby: $16/h $17/h $18/h
Gross pay before federal, state and local taxes, benefits and other deductions.