# 30 An Hour Is How Much A Year? (And Is It Enough?)

## How much is \$30 an hour per year?

If you make \$30 an hour, your gross yearly base salary would be \$62,400.

This number is based on a standard 40-hour week, for 52 weeks a year:

\$30/hour x 40 hours/week x 52 weeks/year = \$62,400-a-year salary

Are you thinking of taking a job that pays \$30 an hour? Maybe you want to increase your current income or just make more than minimum wage.

• \$30 an hour is how much a year?
• \$30 an hour is how much a month? A week? A day?
• Is 30 an hour good pay?
• Can I live on \$30 an hour?
• What is a 30 an hour income after taxes?
• What jobs pay 30 an hour?
• How do I budget \$30 an hour?
• What if I work part-time? Overtime?
• What about unpaid time off?

In this post, I will tell you exactly what you can expect from making \$30 an hour, and how you can get the most out of this hourly salary. I will answer all of these questions and much more, so keep reading to learn everything about making \$30 an hour.

First, let’s talk about what \$30 an hour would be per month.

## What is \$30 an hour per month?

Using the same assumptions as above, we can divide \$62,400 by 12 months to get a monthly salary.

62,400 ÷ 12 = \$5,200.00 per month before taxes

This is an average monthly income over 12 months, and assumes you are working full-time.

If you want a more exact calculation, you’ll need to add up the number of working days in a specific month. Then, multiply that number by the average hours you work each day, which would give you the total hours worked in that month. Finally, multiply \$30 by your number of monthly total hours.

Calculating a \$30 an hour monthly wage is important for creating a monthly budget. Later, I’ll give you a budget breakdown for a \$30 per hour salary.

Next, let’s look at how much \$30 an hour is per week.

## What is a \$30 hourly rate per week?

With a full-time job, you would make a \$1,200 weekly income before taxes with a \$30 per hour wage.

40 hours x \$30 = \$1,200 per week pretax

This number is easy to adjust if you work less than 40 hours per week. Just multiply the exact number of hours you actually worked and multiply by 30 dollars per hour.

Working over 40 hours would get you overtime pay, which I’ll go over a little later.

If you prefer a weekly budget, this number will help you create a spending plan that fits your income.

Now let’s talk about the twice-a-month- paycheck schedule. This is usually referred to as biweekly or bimonthly.

## How much is \$30 an hour biweekly? Bimonthly? (What’s the difference?)

Many people get paid twice a month by their employer. However, there are two different paycheck schedules with this frequency and each will give you a different amount.

First, a bi-weekly salary is paid every two weeks. So if you get paid every other Friday (or any day that ends in “y”) then you get paid biweekly.

Second, a bimonthly paycheck is paid twice a month. My husband gets paid on the 15th and 30th of every month, so he gets paid bimonthly.

This means there are 26 total biweekly checks in a year, but only 24 bimonthly paychecks. This would make the biweekly check a little less than the bimonthly check, if both people make the same yearly income.

Here is what \$30 an hour would be for both the biweekly and bimonthly employee.

Gross annual income for \$30 per hour = \$62,400

Biweekly pay: \$62,400 ÷ 26 weeks = \$2,400 bi-weekly income pretax

Bimonthly pay: \$62,400 ÷ 24 paychecks = \$2,600 twice a month pretax

Finally, let’s figure out how much you would make in a day with a \$30 per hour wage.

## How much is \$30 an hour per day?

To figure out the daily wage for \$30 an hour before taxes, simply multiply the number of hours you work in a day by 30.

Most people who are employed full-time work 8 hours a day, so your daily pay would be:

\$30/hour x 8 hours = \$240 a day before taxes

Those who work “four 10s” will put in a 10-hour shift, four times a week. In this case, you would multiply \$30 an hour times 10 hours:

\$30/hour x 10 hours = \$300 daily wage before tax

Another scenario is if you are an hourly employee and don’t get paid for a 30-minute break. Then, your daily pay would be:

\$30/hour x 7.5 hours = \$225 a day income pretax

Later, we’ll go over how to calculate \$30 a day after taxes.

## What is a \$30 an hour yearly salary with no paid time off?

The reality is that the average person won’t put in a full 40 hours for 52 weeks straight. Occasionally you’ll need to take a sick day, or take a week or two off for vacation.

If you work on an hourly basis, your employer likely doesn’t pay you for days you don’t work. So, you might be wondering, what is \$30 an hour with no paid time off?

Let’s look at a few different scenarios.

### Scenario #1: Two weeks unpaid vacation

Taking two weeks of vacation would mean you only work 50 weeks a year. Let’s plug in this number to the equation from before and get the gross income.

\$30 an hour x 40 hours a week x 50 weeks a year = \$60,000 before taxes

### Scenario #2: One week unpaid vacation

Taking one week of vacation would mean you only work 51 weeks a year. Let’s see what we get:

\$30 an hour x 40 hours a week x 51 weeks a year = \$61,200 before taxes

### Scenario #3: One day of sick leave every 3 months

If your sick days are unpaid, this will also decrease your paycheck. It’s good to know how much income you would lose if you have to call in sick, so you can adjust your budget accordingly.

For this example, let’s assume you take a sick day once every 3 months. This would mean you’d lose 4 paid days in a year.

We know that \$30 an hour is \$240 for an 8-hour day. So, we can just subtract four 8-hour days from the annual wage:

\$62,400 – (\$240 x 4) = \$61,440 pretax

If you work a 10-hour shift, your pay would decrease by \$300 for each sick day.

\$62,400 – (\$300 x 4) = \$61,200 pretax

### Scenario #4: Two weeks unpaid vacation & 4 sick days

What if you take two weeks of vacation and four sick days a year?

\$30 an hour x 40 hours a week x 2 = \$2,400 annual pretax income you would lose for vacation

\$30 an hour x 8 hours a day x 4 = \$960 annual pretax income you would lose for sick days

\$62,400 gross income – \$2,400 unpaid vacation – \$960 unpaid sick days = \$59,040 annual income before taxes

Taking unpaid time off would decrease your monthly, weekly, and daily average income.

Of course, if your employer *does* pay for vacation time and days off, then you wouldn’t lose this income and you would still make the total of \$62,400 in the year.

## What is a \$30 an hour annual salary if I work part-time?

So far, we’ve only considered being a full-time worker. But, what if you work less than 40 hours a week?

This is easy to figure out!

Just take your number of hours per week multiplied by \$30/hour. The total is your weekly pay.

Then, multiply your weekly pay by the number of weeks you work in a year.

For example, let’s say you work an average of 30 hours a week, for 52 weeks out of the year.

\$30/hour x 30 hours x 52 weeks = \$46,800 before tax

Or, maybe you work only 20 hours a week:

\$30/hour x 20 hours x 52 weeks = \$31,200

Or, you work 35 hours a week but take 2 weeks of unpaid time off over the year:

\$30/hour x 35 hours x 50 weeks = \$52,500

## What is a \$30 an hour annual income if I get overtime pay?

As a full-time employee, you might have the opportunity to work more than 40 hours a week and get overtime pay. (Most states will pay 1.5x the hourly salary after 40 hours in a week. Only Alaska, California, Colorado and Nevada have daily overtime laws.)

If you’re eligible for overtime pay, you would make \$45 for every hour you work over 40 hours in a week:

\$30 dollars hourly x 1.5 = \$45/hour overtime rate

So, if you have a 45 hour week, you would make an additional \$225:

\$45 overtime rate x 5 hours = \$225 pretax income

Here is a table using various overtime hours to give you an idea what you would make annually with \$30 an hour overtime pay:

 Hours over 40 Weekly increase Avg. Monthly increase Yearly increase(52 weeks) Total gross salary w/OT 5 \$225 \$975 \$11,700 \$74,100 10 \$450 \$1,950 \$23,400 \$85,800 15 \$675 \$2,925 \$35,100 \$97,500 20 \$900 \$3,900 \$46,800 \$109,200

One additional note: some employers will pay double time if you work certain holidays (like Christmas or New Year’s). If this option isn’t too inconvenient for you, take advantage of these opportunities when you can! You’ll make twice the money for probably less work!

## How many working days and hours are in a year?

We all know there are 365 days in a year (except for leap years, with 366). But, exactly how many of these days are actually working days?

Knowing the number of working days in the current year will help you get a more accurate estimate of your annual wage. (By “working” days I mean weekdays.) You could then add up the number of hours per month and per week that you would work.

If you get paid by the hour, just multiply \$30 by your daily hours per day, then by the number of working days to get your personal income for the year.

For 2023, the total number of working days is 260.

But, unless your employer is open every day of the year, you’ll need to subtract unpaid holidays.

Simply add up the number of unpaid holidays your employer is closed, and subtract those from 260 working days. So, if you don’t get paid for 6 holidays out of the year, your total working days would reduce to 254.

Now we can calculate the number of working annual hours by multiplying the number of your daily hours by the number of working days.

For example, if you work 8 hours a day (and you get paid for all 8 hours), the number of hours you would work in a year (including the 6 unpaid vacation days) would be:

 MONTH # WORK DAYS January 22 February 20 March 23 April 20 May 23 June 22 July 21 August 23 September 21 October 22 November 22 December 21 SUBTOTAL 260 Unpaid holidays (New Year's, Memorial Day, Independence Day, Labor Day, Thanksgiving, and Christmas) - 6 2023 TOTAL PAID WORKING DAYS 254 days 2023 TOTAL WORKING HOURS (254 days x 8 hours) 2,032 hours

8 hours x 254 working days = 2,032 hours annually

## 30 an hour is how much a year after taxes?

Federal income taxes will vary based on a number of individual circumstances, such as your filing status, exemptions, deductions, credits, etc.

But, we can get a general idea how they would affect your \$30 per hour salary by making a few assumptions:

• You file as a single individual
• You claim 0 dependents
• You are not self-employed
• You take the standard deduction
• Your gross annual income is \$62,400

For 2023, a gross income of \$62,400 would put you in the 22% federal income tax bracket (see this table for current income tax rates).

The 2023 standard deduction for a single person (or married filing separately) is \$13,850. This would make your taxable income \$48,550.

Plugging this information into the IRS Tax Withholding Estimator, we get an estimated total of \$5,994 in Federal income taxes.

FICA taxes are 7.65% of the gross income, which would be an additional \$4,774 in taxes.

Subtracting both amounts from the annual salary of \$62,400, we would get:

62,400 – 5,994 – 4,774 = \$51,632 annual net income

Using the standard deduction, and applying the Federal tax rate and FICA taxes, you will be left with a net annual salary of \$51,632.

This breaks down into an after-tax income of:

• \$4,303 average per month
• \$993 average per week (52 weeks)
• \$199 average per day (260 work days)
• \$24.82 per hour after taxes (8 hours)

Of course, while federal income taxes are collected by the federal government, your state income tax will depend on which state you reside in.

As of 2023, state income tax rates range from 2.04% in North Dakota to 8.75% in Oregon for a \$62,400 yearly salary.

If you don’t want to pay state income tax, you could move to one of the nine states that don’t have it: Alaska, Florida, South Dakota, Texas, Washington, Wyoming, Tennessee, Nevada, and New Hampshire.

Check out these 2023 State Income Tax Rates from Tax Foundation to find your state’s rate.

Once you deduct Federal, FICA, and State income taxes, you’ll have a good idea what your annual net income will be. However, this won’t necessarily equate to what you see in your paycheck.

Other deductions such as 401(k) and HSA contributions, Social Security, and health insurance premiums, will lower your pre-tax income even more, but save you some on your tax liability. Also, if you itemize your deductions, you may be able to further reduce your taxable income.

For a more accurate calculation of taxes for your unique financial circumstances, use this tax calculator.

## Hourly to Salary Calculator

Want to plug in your own numbers? You can use this salary calculator to compute various numbers based on different figures for hours per week or weeks per year, etc. (This calculator does not compute taxes, so be sure to use before-tax or after-tax numbers, depending on the totals you’re looking for.)

## \$30 per hour detailed comparison chart

 TIMEPERIOD HOURSWORKED PRETAXINCOME AFTER-TAXINCOME Yearly (52 wks) 2,080 \$62,400 \$51,632 Yearly (51 wks) 2,040 \$61,200 \$50,639 Yearly (50 wks) 2,000 \$60,000 \$49,646 Monthly (Avg) 173 \$5,200 \$4,303 Weekly (F/T) 40 \$1,200 \$993 Weekly (P/T) 20 \$600 \$496 Daily 8 \$240 \$199 Hourly 1 \$30 \$24.82

## Can I live on a \$30 an hour salary?

If you’re wondering if \$30 an hour is a livable wage, you first must answer the question: what kind of life do I want to live?

If you want to live on your own in a high rise condo in the middle of a metropolitan city, you’ll probably have to make a higher wage. However, you can always get roommates and go without a car and other conveniences. You would also have to be very careful with your spending. Supporting a family under these circumstances would be difficult.

If you prefer to live in a smaller town or a rural area, a \$30 per hour income could afford you a nice place of your own, a late-model vehicle to drive, and money left after paying the bills.

With a \$30 an hour income, you would need to practice smart money habits, no matter where you live. You can make it work, but it will be harder if you have a lot of debt to pay off or want to build a fully-funded emergency fund.

For frugal people who are single, have little debt, and are careful with spending, \$30 an hour is enough to live on if you avoid cities with a high cost of living.

Later, I’ll go over how to budget \$30 an hour, and tips to help you make the most of this hourly wage. Next, we’ll consider if \$30 is good money, and how it compares to other salaries in the U.S.

## Is \$30 an hour good money for a U.S. worker?

The answer to this question depends on a couple of things (for starters).

There are two factors to consider:

1. How does \$30 an hour compare to the average wage of other workers?
2. What is the cost of living where I live or want to live?

According to the Bureau of Labor Statistics, the average hourly earnings of all American workers in January 2023 was \$33.03. This makes \$30 per hour about 9% less than the country’s median salary.

However, this is the average of all workers from all states, where the hourly wages, living wage, median income, and cost of living index can differ greatly.

For example, New York’s average hourly earnings of all employees was \$52.98 in December 2022, and the state’s cost of living index (as of 2023) is 148.2 – which is 48.2% higher than the national average cost of living index. (New York City is one of the most expensive cities to live in!)

In contrast, the average hourly earnings in Mississippi is \$24.55 (as of December 2022) and the cost of living index is 83.3, which is 16.7% lower than the national average.

So, as you can see, making \$30 an hour in New York would not be considered good money, when you consider median wage and cost of living area.

But, in Mississippi, a 30 dollar per hour job would make you considerably more than the average worker, while stretching farther with a lower cost of living. You’d be able to cover all of your living expenses and have some disposable income left over.

In the end, \$30 is good money if you make at least the average of others in your area, and your cost of living could be supported comfortably by this hourly wage. Typically, these two factors are directly related (when cost of living is higher, the average hourly wage will be also).

Here are the top 10 cities with the highest and lowest cost of living area in the U.S. (100 = national average). If you make a \$30 per hour salary, you’ll probably want to avoid those areas on the left side of the table:

 High-CostStates Cost ofLiving Index Low-costStates Cost ofLiving Index 1. Hawaii 193.3 1. Mississippi 83.3 2. New York 148.2 2. Kansas 86.5 3. California 142.2 3. Oklahoma 87.9 4. Massachusetts 135 4. Alabama 87.9 5. Oregon 130.1 5. Georgia 88.8 6. Alaska 127.1 6. Tennessee 89 7. Maryland 124 7. Missouri 89.8 8. Connecticut 121.6 8. Iowa 89.9 9. Rhode Island 117.2 9. West Virginia 90.5 10. Vermont 117 10. Indiana 90.6

A few other factors that would help you determine if \$30 an hour is good money:

• Are you single or married?
• Do you have any children you’re supporting?
• How much debt do you have?
• How old are you?

Your answer to each of these questions will affect whether or not \$30 is good money under your circumstances.

## Can I buy a house making \$30 per hour?

Unfortunately, wages have not kept pace with home prices over the past 2 decades. While median home prices have increased over 75% since 2013, median household income has only grown about 35%.

However, home affordability depends largely on where you live. Small cities or towns in the Midwest or the South could have several options for you to be a homeowner.

For example, the current median list price of a home in Youngstown, Ohio (as of Feb 2023) is a little less than \$150,000. With a 20% down payment, you could stay well below the 28% debt-to-income ratio that mortgage lenders are looking for.

However, if you want to live in Southern California, where the median price of a home is currently \$738,250, then \$30 an hour won’t be nearly enough to make you a homeowner.

Other factors that will determine your ability to buy a house are your credit score, down payment, and debt-to-income ratio.

## Example of a \$30 an hour budget

Creating a \$30 per hour budget will help you determine if it’s enough to cover your monthly expenses. You can see exactly how much you’ll have to spend on things like rent, groceries, utilities, and discretionary costs.

Either use the net income of \$51,632 that we calculated above, or use an online calculator to figure out what your paycheck will look like. Don’t use gross income, because you’ll be highly overestimating your take-home pay.

Here is a sample budget of someone who makes \$4,300 a month after taxes using the zero-sum method. I’ve also applied Dave Ramsey’s recommended budget percentages.

 CATEGORY MAX % AMOUNT Housing 25% \$1075 Utilities 10% \$430 Food 10% \$430 Transportation 10% \$430 Insurance 10% \$430 Entertainment 5% \$215 Clothing 5% \$215 Personal Care 5% \$215 Household 5% \$215 Debt Payments 5% \$215 Savings 10% \$430 TOTAL 100% \$4,300

As you can see, some categories (like housing and debt payments) do not stretch very far once the entire income is spread out over all of the basic expenses.

But, there are still tactics you can use to maximize your income, which we’ll go over next.

## 5 tips to live on \$30 an hour

Depending on your financial circumstances, you might find it challenging to live on \$30 an hour. Getting out of excessive debt, saving for retirement, and achieving financial freedom could be difficult.

Here are the 5 best tips for making your income stretch farther. If you put these smart money habits into practice, you could still achieve your financial goals making \$30 per hour.

### 1. Live within your means

This basically comes down to spending less money than you bring in every month. If you can stay within the financial boundaries of your income, you’ll avoid debt.

This will require some very intentional spending choices, but following a workable budget will keep you on track.

### 2. Cut basic living expenses

Find a way to cut costs so you can save more money and pay off debt faster. Besides limiting your spending on unnecessary expenses such as entertainment and hobbies, get creative with reducing your biggest expenses like housing costs and food.

Renting out a room, or refinancing your mortgage to a lower rate can save you hundreds every month. Keep your grocery shopping bill low by following meal plans and keeping your pantry stocked.

### 3. Save money

One of the most important principles of building wealth is paying yourself first. This means setting some savings aside even before you pay your monthly expenses. Learn to make savings a priority so you can create some financial security. Add a long/short-term savings category into your budget and pay it like any other bill. Do a money challenge to achieve financial goals and make saving more fun.

### 4. Get out of debt

If you’re stuck in a debt cycle, you won’t be able to maximize your \$30 per hour wage. Use an online debt calculator to determine a debt payoff strategy. Pay off those higher-interest debt balances first. Make debt repayment a priority so you can put that money in savings instead. Speak to a financial advisor if you feel you’re in over your head.

### 5. Make more money

Bringing in some additional income could look as simple as picking up extra hours or overtime when the opportunity arises. You could even get a second part-time job on the weekends. Adding a little extra to your income will give you some financial cushion, and help cover unexpected expenses when they pop up.

We could all use a little personal finance help sometimes, and these awesome money resources will make money management easier for you.

### Trim

Trim is a handy phone app will review your bank transactions to find recurring expenses. Then, it will notify you of each subscription you’re currently paying for, so you can choose to cancel or not.

### Acorns

Make saving money easier with this automating app.

Acorns will save the difference between each purchase you make and the next highest dollar, and then invest that money into the investment vehicle of your choice.

Could it get any easier?

### Mint

Through this money tool, you can connect to all of your bank accounts to have a complete picture of your financial situation.

Use it to track your budget, review monthly reports, and set up financial goals.

### Prism

Prism will help you to never miss a bill payment again. This mobile app tracks your bills and will send reminders for due dates. You can even pay all of your bills in one place! How convenient.

Most banks now have their own mobile apps, so you can check your accounts on the go. I use my bank’s app to transfer funds, check my daily balance, and review transactions. Having this capability on my phone keeps me on top of my finances.

## Jobs that pay \$30 an hour

If \$30 an hour sounds like a good salary to you, then you might be wondering how you can make this kind of money.

The good news is, there are plenty of jobs that will pay you this hourly rate – and many don’t require a higher education.

According to Indeed.com, here are 20 jobs that have an average pay of \$30 an hour.

 REQUIRES A HIGH SCHOOL DIPLOMA REQUIRES HIGHER EDUCATION Journeyman Electrician Personal Trainer Technical Writer Delivery Driver Private Nanny Plumber Blogger / YouTuber Massage Therapist Virtual Assistant Realtor Radiologic Technologist Multimedia Artist / Animator Medical Sonographer Food Scientist Engineer Urban Planner Landscape Architect Accountant Dental Hygienist Loan Officer

If you don’t want to take the traditional employment route, you could consider making money from home with an online job

Here are ten jobs you can do online that have the potential to make \$30 per hour:

2. Blogger
4. Podcaster
5. Freelance writer
7. Teaching English
8. Transcription
9. Web design
10. Sell stock photos
11. Other freelance business (consulting, tutoring, social media management, etc.)

Most of these opportunities will take considerable time, commitment and patience to make a consistent income. But, if you treat your work like a business, each one has the potential to generate a full-time income!

## How to increase your hourly wage

Are you currently making less than \$30 an hour? Follow these 5 smart tips to make more money.

### 1. Ask for a raise

The easiest way to increase your income is to start where you’re at. If you’ve been proving your worth at the office, take the leap and ask for more money. Your boss might just say yes.

### 2. Get a promotion

Do you like your employer? Maybe they offer other opportunities to create a higher salary. Find out what training you need to move up the ladder. Then, get it done.

When you’ve completed the requirements, apply for that promotion. Just make sure the offering salary is worth the new responsibilities.

### 3. Apply for a better job

Maybe there’s no room for growth where you’re at. Don’t let that keep you from making a better wage and improving your personal finance situation.

Start doing your own job search. Find out what’s out there, and the requirements for getting hired. Use the experience you’ve already gained to get the interview.

You might even want to brush up on your interviewing skills so you’re in top shape.

### 4. Start a side hustle

Want to keep your job but make extra cash? Start a side hustle.

Find something you enjoy doing, then start making some freelancing income. Here are a few ideas for inspiration:

• Take pictures at birthday parties
• Bake cakes for weddings
• Tutor kids at the library
• Give piano lessons
• Teach adults a foreign language
• Have monthly yard sales

### 5. Generate passive income

Passive income is money earned with little to no effort. Sounds good, right?

There are a few different ways you can create this type of income. Once you set up the income source, you can enjoy this extra money with minimal input.

Here are ten different ways you can start creating passive income streams for yourself:

• Build an affiliate marketing website or blog
• Sell an online course
• Write e-books
• Create and sell mobile apps
• Sell digital artwork
• Sell printables
• Rent a room in your house

Earning money passively allows you to work the same number of hours per week but still make more money in your spare time.

Setting up a successful passive income stream source takes time, so be patient. If you stick with it, eventually you’ll be making money in your sleep.

## Conclusion

Now that you know the answer to the question, 30 an hour is how much a year, do you think you could live off this hourly wage?

If you’re still not sure, use the sample budget template outlined above. This one important task will give you a good idea if you can live within your means and experience the contentment in life you want.

Even if the budget looks tight, consider how you could cut basic expenses. Are there costs you’re paying for right now that you could eliminate? Could you reduce expenses like auto insurance or rent or food?

In the end, you might want to take the \$30 an hour job but still need to make a little more to cover your bills. This is when you take on a part-time side gig or start creating a passive income stream.

Remember, it all comes down to the lifestyle you want to have. Making \$30 an hour will limit your options, but it’s definitely an income you could live on.

Other posts you may enjoy: