WageYard$15 an Hour Is How Much a Year?
Last updated: November 2026 · WageYard Editorial · Estimates, not tax advice
$15 an hour is $30,000 a year working 40 hours a week across 50 weeks — about $26,000 after estimated federal tax and FICA for a single filer. That is $600 a week gross ($1,200 biweekly) and roughly $2,170 a month in actual take-home. This guide walks through the full math, the part-time reality (where your tax picture looks better than you'd expect), and what overtime at $22.50 does to the year.
The full-time math
If you are paid every one of the 52 weeks in a year, use 2,080 hours and the answer becomes $31,200. Most quoting online mixes the two without saying which, so check your own pay frequency: 26 biweekly checks means 2,000 hours is your true annual base if you ever take two unpaid weeks.
Every pay period at $15/hour
| Period | Before tax | After est. tax |
|---|---|---|
| Hourly | $15.00 | ≈ $13.02 |
| Daily (8 h) | $120.00 | ≈ $104.15 |
| Weekly (40 h) | $600.00 | ≈ $520.74 |
| Biweekly (26 checks) | $1,200.00 | ≈ $1,001.42 |
| Monthly | $2,500.00 | ≈ $2,169.75 |
| Annual | $30,000.00 | ≈ $26,037.00 |
Why take-home is 87% of gross here
Two taxes eat the difference. FICA takes a flat 7.65% ($2,295 on $30,000) with no deduction to hide behind. Federal income tax only applies above the standard deduction — commonly reported near $16,100 for single filers — so only about $13,900 of this income is taxed in our simplified model, adding roughly $1,668. Total: about 13.2% gone. The takeaway is a pattern that repeats all the way up this site: at lower incomes, FICA, not income tax, is the bigger bite. Nine states impose no income tax; if you live in one, add its absence to your advantage.
Part-time at $15/hour
| Schedule | Weekly gross | Annual gross | Est. take-home/year | Monthly take-home |
|---|---|---|---|---|
| 20 h/week | $400.00 | $15,000 | ≈ $13,853 | ≈ $1,154 |
| 25 h/week | $500.00 | $18,750 | ≈ $16,998 | ≈ $1,416 |
At 20 hours the $15,000 gross falls essentially below the standard deduction, so the federal bite in this model is zero — you lose only FICA. Many workers at this income also qualify for the Earned Income Tax Credit; typical reported credit amounts for eligible families with children can reach into the several-thousand-dollar range, which can meaningfully exceed the taxes shown here. Eligibility depends on filing status and dependents, so check IRS tables rather than assuming.
Overtime scenario: 5 OT hours a week
Overtime at $15 base pays $22.50 an hour. Five OT hours adds $112.50 weekly:
| Measure | Straight time | With OT |
|---|---|---|
| Weekly gross | $600.00 | $712.50 |
| Annual gross | $30,000 | $35,250 |
| Est. take-home/year | ≈ $26,037 | ≈ $30,255 |
| Extra take-home from OT | — | ≈ $4,218 |
Consistently picking up one extra eight-hour shift a week is the difference between a car payment and a car payment plus a real savings buffer.
Living on $30,000: the honest version
At about $2,170 monthly take-home, rent is the whole ballgame. In much of the Midwest and South, typical reported one-bedroom asking rents still sit low enough that a single person can keep housing near the classic 30%-of-income line; in high-cost metros the same unit can swallow 50–60% of take-home, which is why $15-raise debates play out differently state by state. Roommate setups are the standard workaround almost everywhere: splitting a $1,300 two-bedroom roughly halves the biggest line item and instantly restores breathing room.
How $15 compares
| Rate | Annual gross | Est. take-home | Monthly take-home |
|---|---|---|---|
| $10/h | $20,000 | ≈ $18,002 | ≈ $1,500 |
| $15/h | $30,000 | ≈ $26,037 | ≈ $2,170 |
| $20/h | $40,000 | ≈ $34,072 | ≈ $2,839 |
| $25/h | $50,000 | ≈ $42,107 | ≈ $3,509 |
FAQ
Is $15 an hour double minimum wage?
Federal minimum wage has sat at $7.25 for years, so $15 is roughly twice it. But many states and cities set their own floors commonly reported in the $14–$17+ range, so in those places $15 is closer to the market floor than double it — context for why the same pay feels different by location.
How much per paycheck at $15/hour biweekly?
$1,200 gross, about $1,001 after the estimated federal tax and FICA on this page's model. Remember that two months each year contain three biweekly paydays — budget the "extra" checks as savings and your cash flow smooths out.
What annual salary does $15.50 an hour equal?
$31,000 at 2,000 hours, $32,240 at 2,080. Small rate bumps compound fast across a year — see the $16.25 page or use the calculator for any rate in between.