$20 an hour is how much per year? If you work at a job that pays hourly, you might be curious to know how much your rate translates to an annual salary.
Before we get to the answer, it is worth knowing that you don’t need to be employed or go to school to make $20 per hour or more. By learning new skills and venturing into the gig market, you can earn $20 per hour easily and without much investment.
Furthermore, nowadays especially due to the disruption of jobs by the COVID-19 pandemic, working online has become a new reality.
What’s more, passive income streams such as running a blog, writing a book, or even selling photos online could be your way to making $20+ every hour.
So, how much is $20 an hour per year? Below is how to calculate different paychecks from a $20 per hour salary. Also, don’t miss out on our salary calculator feature.
$20 an Hour is How Much a Year?
Let’s do the math; say you work 40 hours a week which is 2080 hours a year, with an hourly wage of $20, then your pre-tax income will be $41,600.
That calculation is achieved by multiplying the number of hours you work yearly by your hourly rate.
$20 per hour x 2080= $41,600 yearly!
How Much is $20 an Hour Per Day?
You might be wondering how much you can earn per day with an hourly wage of $20 an hour.
Assuming you work for 8 hours a day, here is how you calculate:
Take your hourly income and multiply it by 8 (the number of hours you work in a day) which equals $160 per day income.
$20 per hour x 8 hours= $160 daily
Your daily pay can go up or down depending on the number of hours you put in. For example, no one expects you to work 8 hours straight which means you get a 30-minute break. Typically, you don’t get paid for the break which makes your workday 7.5 hours long.
$20 per hour x 7.5 hours = $150 per day
And for any extra hour, you work, you make $20 more.
Now that you know your daily rate, you might be wondering how much that would be monthly and biweekly.
I have calculated it for you!
- For those paid monthly (12 times per year), your pay for $20 per hour would be $3,466 – this is before any deductions
- For those paid biweeklies (every 2 weeks), your pay for $20 per hour would be $1,600 excluding taxes
20 an Hour is How Much a Week?
Assuming you work for the standard 40 hours every week at a $20 per hour rate, you will make $800 per week. For this calculation, take the number of hours you work a week and multiply by 20. What you get is your weekly rate pre-tax.
$20 per hour x 40 hours = $800 weekly pre-tax
If we use our example above, your after-tax weekly pay becomes $640.
$16 per hour x 40 hours = $640 after tax
How Much Per Year is 20 Dollars an Hour After Taxes?
Calculating taxes depends on a lot of factors and the amount varies from state to state. There are also tax exemptions depending on your age and gross income.
If you live in California with a gross income of $20 per hour, your yearly total tax will be around $8,111. Approximately $3,287 goes to the Federal Income Tax, $2,579 to the Social security, $1,143 to the State Income Tax, $603 to Medicare, while $499 goes to the State Disability Insurance (SDI).
This means that your total net pay will be around $33,489 per year. As such, your hourly rate reduces to around $16 per hour after tax.
$33,4889 / 2080 hours = $16 per hour after tax
To ensure that you take home $20 hourly at the end of the day, you need to make an extra $5/hr on the side. For this, look into these daily paying online jobs that pay at least $5/hr!
Is $20 an Hour a Good Salary?
Having answered 20 per hour is how much yearly, which we came to roughly $41,600 annually, the question becomes whether you can live on $20 per hour.
For starters, I won’t advocate trying to buy a house this kind of salary, but you can still save a few hundred per month. To live you may have to rent or co-lease an apartment with a friend. live well under $800 should be fine.
So, is $20 an Hour a good salary? The short answer is that it depends on several factors; age, marital status, where you live, and financial responsibilities among others.
The Bureau of Labor Statistics reports $30.54 as the median wage as of July 2021. So, in the grand scheme of things, $20 per hour is below the average hourly income in America.
At the same time, it’s worth noting that $20 an hour is almost three times the federal minimum wage with stands at $7.25 per hour.
One thing for sure is that you can live comfortably on $20/hr, especially in states such as Kansas and Oklahoma. These are among the most affordable places to live in the states.
However, living in states such as New York which is the second most expensive state to live in according to CNBC, a $20 per hour salary might not cut it.
Can You Make A Living Off 20 An Hour?
After taxes, $20 an hour gets you a net salary of around $36,800, money that can allow you to live comfortably. That said, the amount is only manageable if you are single or have a single dependent. With 2 or more dependents, $20 an hour may not cut it.
Jobs that Pay $20 an Hour
Figures and nationwide statistics are just that, numbers. Even with a six-figure annual income, if you are not careful about how you spend your money, you will end up on the street.
Now, before you get to planning how to use your $20 an hour income, check out the following jobs that pay as much:
What you will notice about these jobs is that you don’t need a degree or years of experience to land one.
1. Veterinary Assistants and Laboratory Animal Caretakers
Working as a Vet assistant or as a Laboratory Animal Caretaker means helping scientists, veterinarians, and other animal specialists with their daily tasks. These include:
- Feeding, bathing, and exercising animals
- Cleaning and disinfecting cages, kennels, and examination and operating rooms
- Restrain animals during examination and laboratory procedures
- Maintain and sterilize surgical instruments and equipment
- Monitor and care for animals after surgery
- Help provide emergency first aid to sick and injured animals
- Give medication or immunizations that veterinarians prescribe
- Assist in collecting blood, urine, and tissue samples
Most workers entering this occupation should have at least a high school diploma or its equivalent and they mainly work in clinics, animal hospitals, and research laboratories.
According to ZipRecruiter, the median annual wage salary is $33,146 per year, with the top percentile making $19 to $25 per hour.
Next on our list of jobs that pay $20 an hour is baking.
Bakers mix ingredients according to recipes in order to make pieces of bread, pastries, and other baked goods. The baking process generally involves doing the following:
- Checking the quality of baking ingredients
- Preparing equipment for baking
- Measuring and weighing flour and other ingredients
- Combine measured ingredients in mixers or blenders
- Knead, roll, cut, and shape dough
- Place dough into pans, into molds, or onto baking sheets
- Set oven temperatures and place items into ovens or onto grills
You can learn baking skills through long-term on-the-job training. Even though no formal education is required, some learn through an apprenticeship program or by attending a technical or culinary school.
Some bakers work part-time however those who work in commercial bakeries may have to work late evenings and weekends. The average annual wage for bakers is around $14 to $19 per hour, but in-state like Massachusetts you can earn up to 20.50 per hour.
3. Manicurists and Pedicurists
Manicurists and pedicurists work entirely on the hands and feet, providing treatments to groom fingernails and toenails. They use a variety of tools, including nail clippers, nail files, and specialized cuticle tools.
Manicurists and Pedicurists typically work in a nail salon, spa, or hair salon and at times may be needed to travel to their clients’ locations for mobile services. Although most manicurists and pedicurists work full time, some have fluctuating schedules and work part-time.
In order to qualify as one, you must complete a state-approved cosmetology or nail technician program and then pass a state exam for licensure, which all states except Connecticut require. Top earners in this industry make around $23 per hour.
Need more choices? Click here for 49 jobs that pay $20 an hour
For the pre-tax calculations below, let’s say you work 40 hours a week and for the entire year (52 weeks).
1. $21 an Hour is How Much a Year?
- Annual salary: 40 hours x $21 per hour x 52 weeks = $43,680 per year
- Monthly salary: $43,680 divided by 12 months = $3,640 per month
- Biweekly salary: (40 hours per week x 2) x $21 per hour = $1,680 biweekly
- Weekly salary: 40 hours per week x $21 per hour = $840 per week
- Daily salary: 8 hours x $21 per hour = $168 daily
2. $22 an Hour is How Much a Year?
- Annual salary: 40 hours x $22 per hour x 52 weeks = $45,760 per year
- Monthly salary: $45,760 divided by 12 months = $3,813 per month
- Biweekly salary: (40 hours per week x 2) x $22 per hour = $1,760 biweekly
- Weekly salary: 40 hours per week x $22 per hour = $880 per week
- Daily salary: 8 hours x $22 per hour = $176 daily
3. $23 an Hour is How Much a Year?
- Annual salary: 40 hours x $23 per hour x 52 weeks = $47,840 per year
- Monthly salary: $47,840 divided by 12 months = $3,986 per month
- Biweekly salary: (40 hours per week x 2) x $23 per hour = $1,840 biweekly
- Weekly salary: 40 hours per week x $23 per hour = $920 per week
- Daily salary: 8 hours x $23 per hour = $184 daily
4. $24 an Hour is How Much a Year?
- Annual salary: 40 hours x $24 per hour x 52 weeks = $49,920 per year
- Monthly salary: $49,920 divided by 12 months = $4,160 per month
- Biweekly salary: (40 hours per week x 2) x $24 per hour = $1,920 biweekly
- Weekly salary: 40 hours per week x $24 per hour = $960 per week
- Daily salary: 8 hours x $24 per hour = $192 daily
Ready to make 20 an hour?
$20 per hour earns you around $41,600 yearly before taxes and close to $33,500 after taxes, which reduces your hourly rate to around $16.
This kind of salary is common among non-skilled laborers and various office and field assistants. On the gig market, you can also get $20 an hour doing:
- Data entry and,
- Odd Jobs
Are you making $20 an hour in your day job or side hustle? Tell us more in the comments.
Hey Folks, thanks for stopping by my blog!
I’m Swati. I’m a mom, side hustler, full-time blogger and a millennial work-at-home expert featured on Forbes, CEO Blog Nation, Referral Rock, Vital Dollar, and Databox blog. I embarked on this impeccable journey to expose my online monetary experiences and help you all earn money from home. Come join my make money revolution and attain financial freedom – it’s not as hard as you think!