How the number is calculated
$42 × 40 hours × 52 weeks = $87,360
A full-time US job is usually counted as 40 hours a week and 52 weeks a year, or 2,080 paid hours. Multiplying $42 by 2,080 gives the gross yearly pay. If your two weeks of vacation are unpaid, use 50 weeks instead: $84,000 a year.
$42 an hour at different schedules
| Hours a week | Weekly | Monthly | Yearly |
|---|---|---|---|
| 20 hours | $840.00 | $3,640.00 | $43,680 |
| 25 hours | $1,050.00 | $4,550.00 | $54,600 |
| 30 hours | $1,260.00 | $5,460.00 | $65,520 |
| 32 hours | $1,344.00 | $5,824.00 | $69,888 |
| 35 hours | $1,470.00 | $6,370.00 | $76,440 |
| 37.5 hours | $1,575.00 | $6,825.00 | $81,900 |
| 40 hours | $1,680.00 | $7,280.00 | $87,360 |
| 45 hours | $1,890.00 | $8,190.00 | $98,280 |
| 50 hours | $2,100.00 | $9,100.00 | $109,200 |
Overtime at $42 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 $42 an hour, that is $63.00 per overtime hour. Five overtime hours a week add $315.00 a week, or about $16,380 a year.
A 50/30/20 budget on $42 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 $7,280 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% | $3,640 |
| Wants | 30% | $2,184 |
| Savings and debt | 20% | $1,456 |
$42 an hour is 5.8 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.