How the number is calculated
$29 × 40 hours × 52 weeks = $60,320
A full-time US job is usually counted as 40 hours a week and 52 weeks a year, or 2,080 paid hours. Multiplying $29 by 2,080 gives the gross yearly pay. If your two weeks of vacation are unpaid, use 50 weeks instead: $58,000 a year.
$29 an hour at different schedules
| Hours a week | Weekly | Monthly | Yearly |
|---|---|---|---|
| 20 hours | $580.00 | $2,513.33 | $30,160 |
| 25 hours | $725.00 | $3,141.67 | $37,700 |
| 30 hours | $870.00 | $3,770.00 | $45,240 |
| 32 hours | $928.00 | $4,021.33 | $48,256 |
| 35 hours | $1,015.00 | $4,398.33 | $52,780 |
| 37.5 hours | $1,087.50 | $4,712.50 | $56,550 |
| 40 hours | $1,160.00 | $5,026.67 | $60,320 |
| 45 hours | $1,305.00 | $5,655.00 | $67,860 |
| 50 hours | $1,450.00 | $6,283.33 | $75,400 |
Overtime at $29 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 $29 an hour, that is $43.50 per overtime hour. Five overtime hours a week add $217.50 a week, or about $11,310 a year.
A 50/30/20 budget on $29 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 $5,027 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% | $2,513 |
| Wants | 30% | $1,508 |
| Savings and debt | 20% | $1,005 |
$29 an hour is 4.0 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.