$26 an Hour is How Much a Year?
$26 an hour is just below the median rate of $29.81 in the US in 2020 for hourly employees, according to Indeed.com. So while it’s close to the average pay for a single individual, $26 an hour is how much a year?
How much is $26 an hour each year?
If you’re working a full-time job, this hourly rate works out to be a yearly salary of $54,080, This is assuming that you’re working a full 40 hours of work a week. You can see the breakdown in the equation below:
$26 x 40 hrs per week x 52 (number of weeks in a year) = $54,080
This calculation assumes that you’ll get two weeks of paid vacation. But what if you don’t get paid time off? Assuming you take two weeks of unpaid vacation time, you’ll make closer to an equivalent annual salary of $52,000.
$26 x 40 hrs per week x 50 weeks in a year = $54,080
And, don’t forget that any overtime pay is 1.5 times your hourly rate as well. Remember that any overtime hours or unpaid time off will adjust your earnings up or down for your yearly income.
This hourly rate is over three times the federal minimum wage, which is at $7.25 an hour, according to the United States Department of Labor.
$26 an hour is how much biweekly?
If you get paid biweekly, you’ll earn $2,080 every time you cash your paycheck.
$26 x 40 hrs per week x 2 weeks = $2,080
$26 an hour is how much a month?
Months vary in the number of workdays and weeks, so this will change depending on the month. However, an average every month will be $4,506.67.
$54,080 / 12 months = $4,506.67
Don’t forget that if you’re paid biweekly (twenty-six times in a year), you’ll end up with two months every year where you receive three paychecks!
To sum it up in daily, weekly, biweekly, monthly, and yearly stats:
- Daily rate (8 hour workday): $208
- Weekly rate (5 days a week): $1,040
- Biweekly rate: $2,080
- Monthly rate (averaged): $4,506.67
- Yearly rate: $54,080
How much is $26 an hour after taxes?
Local and state taxes will fluctuate depending on your location and affect your net income. However, you can assume about 25 – 30% for your income tax rate. Based on this, 25% of $54,080 is $13,520.
$54,080 – $13,520 (25% tax rate) = $40,560
After taxes, your hourly, daily, weekly, biweekly, and monthly rates will be about:
- Hourly rate after taxes: $19.50
- Daily rate after taxes: $156
- Weekly rate after taxes: $780
- Biweekly rate after taxes: $1,560
- Monthly rate after taxes (averaged): $3,380
- Yearly rate after taxes: $40,560
You’ll want to talk to your accountant or a tax professional to learn more about your tax bracket and what local tax percentages look like to get a more specific number for your situation.
There are other costs that can come ot of your paycheck as well, including:
- Health insurance
- Social Security
These costs will vary depending upon what benefits your company offers, and which you opt into as a full-time employee.
Is $26 an hour good pay?
This hourly salary can be great pay – it’s just below the median hourly wage for the average person the US, so you’re in good company. What really makes or breaks your hourly rate is how you choose to live. There are several factors that can affect how far your hourly rate stretches – and if it’s enough money, or not much money:
- The cost of living in your area. If you live in a high cost of living area, it can be impossible to find an apartment or house on your salary. Not to mention the cost of food, gas, and utilities being higher as well.
- How much debt you have. If you are drowning in debt, this hourly rate might not be enough to juggle all of your current living expenses with paying off your debts.
- If you’re a spender or a saver. If you love to spend money, this can cause your bank account to end up empty quicker than you realize. Learning to live within your means and using a monthly budget can help to stretch your earnings even more.
- How many hours you’re working. If your total hours are over 40, you’ll have a decent income at $54,080. However, if you’re only working four hours a week, then this rate isn’t that great of a weekly income or annual pay. The total number of hours worked as well as if there’s an overtime exemption all play into the math.
- How many family members you have. A single person living on an income of $54,080 will be much more comfortable than a family of ten.
Everyone’s circumstances are different, so determining if this hourly rate is good pay will be a different answer for everyone. Start by looking at your expenses, your income, and determine if there are extra expenses you can trim to help you get further.
If you need to make more of a living wage because your base salary isn’t enough, consider picking up a side hustle to supplement your income or sell any old cars you have.
What jobs pay at least $52,000 a year?
If you’re looking for a new job offer that pays at least $52,000 a year, a study from the US Bureau of Labor Statistics shows us which jobs to consider:
|Job||Median Hourly Wage||Mean Hourly Wage||Annual Mean Wage|
|Probation Officers and Correctional Treatment Specialists||$26.77||$29.76||$61,900|
|Tax Examiners and Collectors, and Revenue Agents||$26.75||$29.83||$62,040|
|Career/Technical Education Teachers, Postsecondary||$26.74||$29.67||$61,710|
|Computer Support Specialists||$26.69||$28.92||$60,160|
|Industrial Machinery Mechanics||$26.68||$27.57||$57,350|
|Adult Basic Education, Adult Secondary Education, and English as a Second Language Instructors||$26.61||$28.75||$59,810|
|Mobile Heavy Equipment Mechanics, Except Engines||$26.61||$27.40||$57,000|
|Electrical and Electronic Equipment Mechanics, Installers, and Repairers||$26.59||$27.60||$57,400|
|Brickmasons and Blockmasons||$26.48||$28.09||$58,420|
|Pipelayers, Plumbers, Pipefitters, and Steamfitters||$26.43||$28.79||$59,890|
|Advertising Sales Agents||$26.41||$32.71||$68,040|
|Industrial Machinery Installation, Repair, and Maintenance Workers||$26.40||$27.30||$56,790|
|First-Line Supervisors of Transportation and Material Moving Workers, Except Aircraft Cargo Handling Supervisors||$26.38||$28.03||$58,300|
|First-Line Supervisors of Transportation and Material Moving Workers||$26.37||$28.04||$58,330|
|Structural Iron and Steel Workers||$26.36||$28.20||$58,650|
|Model Makers, Metal and Plastic||$26.33||$27.97||$58,180|
|Tool and Die Makers||$26.33||$26.69||$55,520|
|Refractory Materials Repairers, Except Brickmasons||$26.26||$26.48||$55,080|
|Drafters, All Other||$26.20||$27.18||$56,530|
|Occupational Therapy and Physical Therapist Assistants and Aides||$26.08||$25.19||$52,400|
|Clinical Laboratory Technologists and Technicians||$26.05||$26.92||$55,990|
|Morticians, Undertakers, and Funeral Arrangers||$26.01||$28.36||$59,000|
|Civil Engineering Technologists and Technicians||$26.00||$27.21||$56,590|
Note: Data sourced from the May 2020 National Occupational Employment and Wage Estimates report from the U.S. Bureau of Labor Statistics: https://www.bls.gov/oes/2020/may/oes_nat.htm
$25, $27, and $28 an hour is how much yearly?
If you’re wondering how much less you’d make at $25 an hour, here are the stats:
- Daily rate at $25/hour (8 hour workday): $200
- Weekly rate at $25/hour (5 days a week): $1,000
- Biweekly rate at $25/hour: $2,000
- Monthly rate at $25/hour (averaged): $4,333.33
- Yearly rate at $25/hour: $52,000
And if you get a $1 bump to $27, you’ll make:
- Daily rate at $27/hour (8 hour workday): $216
- Weekly rate at $27/hour (5 days a week): $1,080
- Biweekly rate at $27/hour: $2,160
- Monthly rate at $27/hour (averaged): $4,680
- Yearly rate at $27/hour: $56,160
A $2 bump will bring you up to $28 an hour, which works out to:
- Daily rate at $28/hour (8 hour workday): $224
- Weekly rate at $28/hour (5 days a week): $1,120
- Biweekly rate at $28/hour: $2,240
- Monthly rate at $28/hour (averaged): $4,853.33
- Yearly rate at $28/hour: $58,240
Now that you know much you can make with this hourly rate, read on to learn more about making and saving money with these related articles:
A forty-ish web designer/developer by day, a budget & financial fanatic by night. I’m a mom, wife, avid reader, and DIY enthusiast who’s tracking our journey to debt freedom. Read More