$15 an Hour is How Much a Year? | How To FIRE (2023)

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Earning an hourly wage makes it hard to budget unless you annualize it or at least look at it on a monthly basis. Knowing how much you bring in each month is important; otherwise, how do you set up a budget? You need to know how much you can commit to expenses like housing, utilities, insurance, food, and savings.

If you make $15 an hour, check out our guide to make the most of it. Continue reading to also see the equivalent annual salary based on how many hours you work.

15 Dollars an Hour Is How Much a Year?
How Much is $15 an Hour per Month?
How Much is $15 an Hour per Week?
How Much is $15 an Hour per Day?
$15 An Hour Breakdown (Comparison Table)
Tools You Need to Live on $15 an Hour
- Empower
- CIT Bank
- FlexJobs
- Tiller
- Survey Junkie
Is $15 an Hour Good Pay?

15 Dollars an Hour Is How Much a Year?

You may find yourself asking how much is $15 an hour annually? If you work 52 weeks per year (or get two weeks of paid vacation), you will make around $31,200 assuming you work 40-hour weeks with no overtime pay.

If you don’t get paid time off and you take it, you’ll work around 2,000 hours per year, bringing your salary down to $30,000 even. But if we’re honest, there are 260 weekdays in 2023. If you worked every weekday, you’d work 2,080 hours and make $31,200 annually.

Let’s convert your hours worked to salary based measurements:

Check out our free Hourly to Salary Calculator to further dive into your hourly pay.

For both salaried and hourly employees, the fair labor standards act, and the department of labor standards provides you with a level of protection. Federal minimum wage (minimum rate of pay for a given nonexempt job role) and for overtime hours on time-spent if an employee meets compensatory requirements are just two examples of how labor laws help you.

How Much is $15 an Hour per Month?

It helps to know how much $15 an hour earns you per month. You’ll have a better idea of your monthly budget and what you can spend. Using the full 365 days in 2023, the average hourly wage earner works 175 hours per month.

At $15 an hour, you’d make $2,625 per month, assuming you work all the weekdays in the month. If you take time off unpaid, the amount drops.

How Much is $15 an Hour per Week?

Do you prefer to budget weekly? Many people do; it’s easier to break it down than look at a month at a time and get overwhelmed.

$15 an hour per week means $15 an hour for 40 hours or $600. If you work overtime or take time off, it will increase or decrease your weekly income accordingly.

How Much is $15 an Hour per Day?

Want to look at it from a daily standpoint? Maybe you want to give yourself a little incentive to keep going – and what works better than cold hard cash, right?

If you work full-time, that’s 8 hours a day on average. At $15 an hour, you’d gain $120 a day.

$15 An Hour Breakdown (Comparison Table)

Here’s a quick breakdown of what $15 an hour looks like for the average person.

Tools You Need to Live on $15 an Hour

Empower

Knowing your net worth is half the battle, and Empower helps you understand yours. Track your assets and liabilities – see where you stand (and where you should make changes). It doesn’t cost anything unless you sign up for their Robo-advisor services, which we think is a great way to start investing, especially for beginners.

CIT Bank

Don’t waste your time (and moolah) in your local, brick-and-mortar banks. The interest is next to nothing – you’ll get the same result keeping things under your mattress. Instead, make it work for you at CIT Bank, where you make 11x the national average interest rates in their money market account.

Earn More On Your Savings

CIT Bank

5.0

Earn higher and more competitive APY with CIT Bank. As a top-ten online bank, they commit themselves to growing and preserving your savings safely and securely. Find saving, e-checking, money market, and CD options with CIT.

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Pros:

Significantly higher APY than traditional banks
4.20% APY on Savings Connect Accounts
Zero monthly fees
Small deposit minimum requirements

Cons:

No physical locations are available
Checks are not an available option
NO IRAs, car loans, or credit cards

Learn More

FDIC insured – Rates may vary and are subject to change

FlexJobs

Looking for a part-time gig to pick some additional work-hours up? Regardless of whether you want to extend your workweek into the weekends or extend past your normal eight hours per day – FlexJobs offers the best remote work and flexible positions available.

Kickstart Your Remote Job Search

FlexJobs

3.5

Find the best paying full time & part time remote work from home & flexible jobs available online!

Both employee & freelance positions available from some of the biggest companies!

Pros:

Advanced and easily refined job searches
Saves time for job seekers
FlexJobs screens the jobs they post
30-Day money back guarentee

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Cons:

Requires a membership fee
Salaries are not always listed with the job post
Some jobs are not actually remote

Learn More

Tiller

Do you love spreadsheets, but don’t have the time for manual data entry? Who does, right? Tiller automatically imports your transactions, working with over 20,000 banks. They even categorize for you (don’t worry you can customize) and send daily emails showing your balance and activities.

Manage Your Money With Spreadsheets

Tiller

3.5

Easily automate spreadsheets with Google Sheets or Microsoft Excel and manage your finances today! Connect your transaction data, bank, credit cards, brokerages, loans, and other financial institutions and gain insight into your finances.

Pros:

Extremely Customizable
Advanced reporting on personal profit, loss, and cash flow.
Free for 30-days

Cons:

No mobile app – can only access via spreadsheet
Basic knowledge of spreadsheets is required
Only free for 30-days

Learn More

Survey Junkie

Received gift cards or PayPal money just for providing your opinions and input on today’s products and services with Survey Junkie. Complete these in your free time and take home a little side money. Seriously, while you’re watching TV, waiting for the doctor, or while cooking dinner, answer a series of questions or two and acquire points for free prizes.

Take Surveys, Get PAID!

Survey Junkie

5.0

Get paid for taking online surveys!

All you have to do is build your profile, take surveys, earn points, and get paid!

Payouts are available via PayPal or e-Giftcards.

Pros:

Free to sign up
Redeem for cash or gift cards
Points have a long “shelf life” compared to other sites.

Cons:

Payouts for some surveys are low

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Is $15 an Hour Good Pay?

You can make $15 an hour work if you’re frugal. If you can rent with roommates, share the utility costs, and keep food costs at approximately 10 percent of your monthly income, you should have enough to cover the basic cost of living and even saving 10 percent each month. It doesn’t leave much room for spending, but if you’re looking for more, check out our Make Money category for effective strategies to make more money!

Samantha Hawrylack

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Samantha Hawrylack is a personal finance expert and full-time entrepreneur with a passion for writing and SEO. She holds a Bachelor’s in Finance and Master’s in Business Administration and previously worked for Vanguard, where she held Series 7 and 63 licenses. Her work has been featured in publications like Grow, MSN, CNBC, Ladders, Rocket Mortgage, Quicken Loans, Clever Girl Finance, Credit Donkey, Crediful, Investing Answers, Well Kept Wallet, AllCards, Mama and Money, and Concreit, among others. She writes in personal finance, real estate, credit, entrepreneurship, credit card, student loan, mortgage, personal loan, insurance, debt management, business, productivity, and career niches.

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