$60000 a year is how much an hour? If this question crosses your mind because you are fresh out of college, exploring other job opportunities, or just curious, you are about to get into the nitty-gritty of a yearly $60,000 income.
Besides knowing how much you will be making an hour, what can you do with a 60k salary? Is 60k a good salary for a single person? These are some of the frequently asked questions that we will address later in the article.
It is also worth knowing that a person earning a $60,000 annual wage will fall under the 22% federal income tax bracket in addition to other taxes. Your location, work, and the tax policies regarding your situation are some of the main factors that determine how much total tax you pay.
Now, first things first. Back to our question about working hourly to make $60,000…
$60000 a Year Is How Much an Hour?
The number of hours that you work in a week can vary based on a number of factors. For the purposes of our calculations, let’s use a 40-hour workweek.
If you choose to work for all the 52 weeks of a year, 40 hours multiplied by 52 weeks, equals 2,080 working hours.
Then, divide the yearly salary of $60000 by 2,080 working hours and the result is $28.85 per hour.
60000 salary / 2080 hours = $28.85 per hour
60000 a Year is How Much a Month After Taxes?
Earning a $60,000 annual salary, your tax liabilities including Federal Income Tax, State Income Tax, Social Security, Medicare, State Disability Insurance (SDI), and Family Leave Insurance (FLI) may vary a little from one state to another but it will amount to approximately $14,000.
That said, to still earn 60,000 a year after taxes, you would have to make about $14,000 more to account for tax deductions.
60,000 plus $14000 equals $74,000. Divide $74,000 by 2080 hours to get the hourly earning which equals $35.56/hour.
So, to make $60,000 after taxes annually, you would have to make $35.56/hour, working 40 hours a week, and for 52 weeks a year. If not, you will be taking home a net salary of $50,000 a year.
Note: If you work for less than 40 hours a week, or less than 52 weeks a year, you would have to work at a higher hourly rate to keep the expected salary constant and cover the tax deductions.
How Much is $60,000 a Year Monthly?
Before taxes, your monthly income would be $60,000 divided by 12 [the number of months in a year] = $5000.
$60,000 a Year is How Much a Week?
You can calculate your weekly salary by dividing your annual income by 52 weeks (the number of weeks in a year’s calendar.) or multiply your hourly rate by the number of hours that you work for every week. (in our case, 40 hours a week).
- $60,000/52= $1,153.85 weekly or 28.85*40 = $1,154
$60,000 a Year is How Much Biweekly?
This means getting your salary after 2 weeks. So for this calculation, it is straightforward, take the average weekly pay of $1,154 and multiply by 2.
$1,154 per week x 2 = $2,308
Another way to do this is to divide the annual salary by 26 (number of fortnights in a year).
$60000 / 26 weeks = $2,308 biweekly.
What Jobs Pay $60k a Year?
What you earn is a big factor in how we live our day-to-day lives. In this post, we have put together jobs that pay at least $60K a year. Even better, you can also find out the experience level and academic qualifications needed for each job.
1. Film and Video Editor
A film and video editor is a highly skilled film industry expert who edits movies or videos that entertain or inform an audience. As a film/video editor, you’ll manage material such as camera footage, dialogue, sound effects, graphics, and special effects to produce a final film or video.
As a film and video editor, your typical work environments include studios or office settings. On the other hand, camera operators and videographers often shoot raw footage on location.
To qualify in this space you may need a bachelor’s degree in film. It’s also an added advantage if you have work experience in a related sector. The average annual wage for film and video editors is $67,250.
2. Human Resource Specialist
Becoming a Human Resource specialist will earn you more than 60k a year. The work of a human resource specialist entails recruiting, screening, interviewing, and placing workers accordingly.
In addition, they handle employee relations, compensation and benefits, and training. In simpler terms, they act as the liaison between the employer and employees.
Human Resource specialists typically work from an office. Some HR specialists, however, may need to travel extensively to attend job fairs, visit colleges, and meet with applicants.
A bachelor’s degree in human resources, business, or a related field is the minimum requirement to enter this occupation. The median annual wage for human resources specialists is $63,490.
3. High School Teacher
High school teachers usually specialize in a particular subject, such as English or History, or career-oriented subjects.
The employment of high school teachers is projected to grow by 4% percent before 2029, about as fast as the average for all occupations.
To be a high school teacher, you need to at least have a bachelor’s degree though some states may request a master’s degree or academic background in the subject(s) you specialize in.
In addition, public school teachers must have a state-issued certification or license to teach at a specified level. Good communication skills are also paramount.
The median yearly wage of a high school teacher is $62,870.
4. Respiratory Therapist
A respiratory therapist is a specialized healthcare practitioner trained to care for people suffering from acute critical conditions, cardiac and pulmonary conditions such as asthma or emphysema. They usually work in medical facilities, such as hospitals.
In order to qualify as an RT, you’ll need an associate’s degree, but some have bachelor’s degrees. Upon the completion and passing of the Clinical Simulation Examination, you will be awarded the Registered Respiratory Therapist (RRT) credential, which is the highest level credential in this field.
It is only in the state of Alaska where these medical professionals are not licensed across all states in the US. The median annual salary for a Respiratory Therapist is around $62,810 per year or $30.20 per hour.
5. Agricultural and Food Scientist
Agricultural and food scientists are tasked with researching ways to improve the efficiency and safety within agricultural establishments and products.
People in this career mostly find themselves working in laboratories, offices, and in the field if needed. Most agricultural and food scientists work full time.
Breaking into this role requires at least a bachelor’s degree from an accredited post-secondary institution, although may sometimes need advanced degrees.
The median annual wage for agricultural and food scientists is $68,830 per year/ 33.09 per hour.
6. Anthropologist and Archeologist
These are experts responsible for analyzing the origin, development, and behavior of humans from past cultures. They typically work in research organizations, government, and consulting firms.
A master’s degree or Ph.D. in anthropology or archeology is required to qualify for this career. In addition, Bachelor’s degree holders may find work as assistants or fieldworkers.
Most Anthropologists and Archeologists work in offices, and laboratories as well as in the field. Their median wage is $66,130 per year/ $31.79 per hour.
60k a Year Jobs Without a Degree
Don’t have the time or money to get a bachelor’s degree? Don’t worry, there are still high-paying jobs that are up for grabs. To come up with this list, we used the latest educational data and salary figures from the US Bureau of Labor Statistics.
7. Aircraft and Avionics Equipment Technicians
People under this particular career typically work in hangars, in repair stations, or on airfields and their working environment is usually loud because of aircraft engines and equipment.
Most Aircraft or Avionics technicians learn their trade at a Federal Aviation Administration (FAA)-approved aviation maintenance technician school or on the job. This is after entering the occupation with a high school diploma or its equivalent. Some also learn through training received in the military.
The median annual wage for aircraft and avionics technicians is $66,440 and $67,840 respectively i.e $66,680 per year $32.06 per hour.
As the name suggests, they are responsible for assembling, installing, maintaining, and repairing boilers, and large containers intended to hold both hot liquids and gases also known as pressure vessels.
A boilermaker will most likely earn a salary of anywhere around 40000 to 60000 yearly based on tenure and industry expertise. A Boilermaker working in Alaska, though, can expect an average pay level of approximately $71710.
According to the Bureau of Labor Statistics, the median pay is $65,360 annually or $31.42 per hour. Further, you only need at least a high school diploma or equivalent to enroll in this career.
9. Claims Adjusters, Appraisers, Examiners, or Investigators
All these careers are in the same field and work hand in hand. Some of the terms can even be used interchangeably.
Claim adjusters evaluate insurance claims, to decide whether an insurance company should cover the cost of a claim, and if so, how much. Appraisers, on the other hand, determine the estimate of the cost of repairs of an item especially damaged automobiles and buildings.
To become a professional in this field, you’ll need a high school diploma or its equivalent. Nevertheless, to work in some higher positions you’ll need a bachelor’s degree or insurance-related work experience.
The median annual wage for auto damage insurance appraisers is $65,550.
What Jobs Pay More Than 60k a year?
Want to make more than 60k a year, here’s a list that is sure to interest you.
10. Registered Nurse
A career as a registered nurse (RN) might be considered one of the best entry-level jobs due to its median annual salary. RNs are responsible for anything from patient care to public education on health issues.
RNs can work in a vast of settings, including hospitals, doctors’ offices, nursing care facilities, or outpatient clinics.
To qualify as a registered nurse, you will have to attain at least one of these three educational paths: a bachelor of science degree in nursing (BSN), an associate’s degree in nursing (ADN), or a diploma from an approved nursing program.
Additionally, to be recognized as an RNs in all U.S. states, you will be required to pass the National Council Licensure Examination.
The median annual wage for registered nurses was $75,330 in May 2020 according to the US Bureau of Labour Statistics.
Also Read: Lucrative Side Jobs for Registered Nurses
Microbiologists perform the duty of studying the growth, interactions, and characteristics of microscopic organisms such as bacteria, fungi, algae, and viruses. Most microbiologists work on research teams with other scientists and technicians in offices or research facilities.
For example, microbiologists working in the medical field, such as clinical microbiologists may see patients or use patient samples and do various tests to detect diseases.
You need to have secured at least a Bachelor’s Degree in microbiology or a related field for entry-level positions. Independent research positions typically require a Ph.D.
A microbiologist’s medium annual income is $84,400.
12. Environmental Scientist
Environmental scientists have the responsibility of conducting research to identify, control, and eliminate sources of pollutants affecting the environment or public health such as air pollution.
The basic requirement to qualify as an environmental scientist is a bachelor’s degree in a relevant subject such as environmental science, environmental engineering, or environmental bioscience.
It’s also possible to get into this career with a related scientific degree such as microbiology, chemistry, geoscience, or physics.
An Environmental Scientist’s average wage is $73,230.
Also Read: Best Side Jobs for Engineers that Pay Well
13. Postsecondary Teachers
Postsecondary teachers directly supervise students in academic subjects beyond the high school level.
These teachers work in public and private colleges and universities, professional schools, and junior or community colleges. Most work full time, although part-time work is also common.
Educational requirements depend on the subject and the type of educational institution. Generally, to be recognized as a postsecondary teacher, you must have a Ph.D. However, having a master’s degree may also be enough for some postsecondary teachers at community colleges.
Additionally, others may need work experience in their field of expertise.
According to BLS, the median annual wage for postsecondary teachers is $80,790 per year.
14. Airline and Commercial Pilots
Pilots usually have variable work schedules, with overnight layovers that are more common for airline pilots. Airline and commercial pilots fly and navigate airplanes, helicopters, and other aircraft.
Typically Airline pilots mainly begin their careers as commercial pilots or flight instructors. Commercial pilots need at least a high school diploma or equivalent and a commercial pilot’s license from the Federal Aviation Administration (FAA).
Airline pilots must have a bachelor’s degree and also need the FAA-issued Airline Transport Pilot (ATP) certificate.
The median wage for airline pilots is $160,970 while that of Commercial pilots is $93,300
15. Aerospace Engineering and Operations Technologists and Technicians
These professionals run and maintain equipment used to develop, test, produce, and sustain aircraft and spacecraft.
They usually work in manufacturing plants, laboratories, and offices. Typically, you need an associate’s degree in engineering technology or a related field. Some employers consider candidates who have a high school diploma or have completed a certificate program.
This profession is projected to grow 7 percent by 2029, faster than the average for all occupations. The median yearly income for certified Aerospace Engineering and Operations Technologists and Technicians is about $68,570 per year and $32.97 per hour.
16. Accountants and Auditors
A bachelor’s degree in accounting or a related field is typical for an entry-level accountant or auditor job. Accountants can also pursue a certified public accountant [CPA] credential to gain an upper hand in the job market.
Most accountants and auditors are full-time workers. Overtime hours are normally at certain periods of the year, especially during tax season.
The median annual wage for accountants and auditors is around $73,560/.$35.37 per hour.
Can You Live On $60000 Per Year?
The answer to this depends on many factors and the answers to questions like how much goes into settling your debt obligations such as your mortgage? Are you single or married? Do you have a family? What’s the cost of transport? And many more.
The key to knowing how to live on any annual income is planning and budgeting how to spend your money.
Where you live is also a key factor. For example, living in California or New Jersey can be tough with 60k a year compared to living in Oklahoma or Texas.
Forbes reports that you can live in 13 out of the 60 largest cities in the US while earning an income of $60000 a year or less.
If you are not able to live the lifestyle that you want, then you have to find ways to make it work for you including exploring the possibility of a second job, high-paying side hustles, or changing your career.
Is 60k A Good Salary For A Single Person?
The answer to this can be a straight yes but some factors such as your location and your spending habits will also come to play.
When all things are kept constant though, a single person who only has their own expenses to worry about will spend much less than someone who needs to provide for a family.
That said, it is possible to live comfortably on $60000 per year. Want to get paid over $28 an hour? Procced here to earn $35 an hour
What can you do with a 60k Salary?
As a single person, a 60k salary is plenty enough to own a used car, rent your own 1BR apartment in a good part of town, put away some cash, and go out every weekend eating/drinking without struggling.
Also, you can get a mortgage up to 4.5 times your annual income or even more with some mortgage providers. That’s up to $270,000 worth of mortgage. With good planning, you should also be able to afford the monthly mortgage payments.
How Much Should you Spend on a Car if You Make 60k a Year?
The general rule of thumb is that you should not spend more than 20% of your monthly take-home pay on cars. So if your after-tax monthly income is $5,000, the total cost of all of the cars you own should not exceed $1000 under this rule.
So far, we have established that $60,000 a year before taxes is 28.85/hour when working for 40 hours a week and 52 weeks a year. The pay is well above the US median salary is $990 weekly or $51,480 yearly, according to the BLS.
Further, to make $60,000 after taxes requires you to work at a rate of $35.56/hour working for the same time and duration, considering that total income tax is approximately $14.000. You can also start a side hustle to help you cover your taxes, leaving your $50k unscathed.
Whether you are a university graduate or not, there are many job opportunities from which you can earn an annual salary of $60,000. Also, depending on factors such as place of residence, family obligations, debt obligations, and your expenditure, it is possible to live on this salary.
Are the requirements for making $60 yearly too high? Try these less demanding jobs:
- Jobs to earn you $40,000 a year.
- Jobs to make you $30,000 a year.
Leave a comment on what’s your pick for the best hustle to make $60,000 annually.
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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!