How the number is calculated
$15 × 40 hours × 52 weeks = $31,200
A full-time US job is usually counted as 40 hours a week and 52 weeks a year, or 2,080 paid hours. Multiplying $15 by 2,080 gives the gross yearly pay. If your two weeks of vacation are unpaid, use 50 weeks instead: $30,000 a year.
$15 an hour at different schedules
| Hours a week | Weekly | Monthly | Yearly |
|---|---|---|---|
| 20 hours | $300.00 | $1,300.00 | $15,600 |
| 25 hours | $375.00 | $1,625.00 | $19,500 |
| 30 hours | $450.00 | $1,950.00 | $23,400 |
| 32 hours | $480.00 | $2,080.00 | $24,960 |
| 35 hours | $525.00 | $2,275.00 | $27,300 |
| 37.5 hours | $562.50 | $2,437.50 | $29,250 |
| 40 hours | $600.00 | $2,600.00 | $31,200 |
| 45 hours | $675.00 | $2,925.00 | $35,100 |
| 50 hours | $750.00 | $3,250.00 | $39,000 |
Overtime at $15 an hour
Under the federal Fair Labor Standards Act, non-exempt employees earn at least 1.5 times their regular rate for hours over 40 in a workweek. At $15 an hour, that is $22.50 per overtime hour. Five overtime hours a week add $112.50 a week, or about $5,850 a year.
A 50/30/20 budget on $15 an hour
The 50/30/20 rule splits take-home pay into needs, wants and savings. Taxes depend on your state, filing status and benefits, so the split below uses gross pay of $2,600 a month as a starting point. Use the 50/30/20 budget calculator with your actual take-home pay.
| Category | Share | Monthly (gross) |
|---|---|---|
| Needs | 50% | $1,300 |
| Wants | 30% | $780 |
| Savings and debt | 20% | $520 |
$15 an hour is 2.1 times the federal minimum wage of $7.25. Many states and cities set a higher minimum, so check your state labor department for the local rate.
Want a different rate or schedule? Try the salary to hourly calculator.