$19 an Hour Is How Much a Year?
Last Updated: October 6, 2022
Are you on the hunt for a new job? Or perhaps you’re a freelancer considering the appropriate hourly rate to ask for. Either way, if making 19 bucks per hour is one of your options, you should keep reading.
A Bureau of Labour Statistics (BLS) report on the second quarter of 2022 shows that the median US weekly wage is $1,041, or $54,132 a year. So is $19 an hour good pay compared to the median?
We need to answer one question first: $19 an hour is how much a year, exactly?
We can quickly calcullate your early pre-tax earnings based on a $19/hour wage by applying a simple formula.
Let’s assume you work eight hours a day, 40 hours a week, and take no weeks off during the entire year. Your yearly salary for 19 dollars an hour would then be:
19 x 40 x 52 (roughly the number of weeks in a year) = $39,520 per year
But what about per day, week, or fortnight? Also, $19 an hour is how much a month in gross income? That’s even simpler to calculate:
- Daily: $19 x 8 hours = $152
- Weekly: $152 a day x 5 days = $760
- Bi-weekly: $152 a day x 10 days = $1,520
- Monthly: $760 a week x 4.33 (the average number of weeks per month) = just shy of $3,291.
Remember, this is your total earned income, so it’s just a starting point for us here.
Actual Earnings (After Tax)
Now that we’ve worked out your $19 per hour gross annual income, let’s see how much you will actually earn after being a responsible citizen and paying your taxes.
Let’s assume that you are a single individual with an $19/hour annual salary using the 2022 standard deduction of $12,950. Then we can calculate your taxable income:
$39,520 – $12,950 = $26,570
This amount puts you in the 12% bracket, according to the 2022 federal tax table. But you don’t actually pay 12% on the whole amount. You’ll pay:
- $10,275 taxed at 10% = $1,027.50
- The remaining $16,295 taxed at 12% = $1,955.40
- A total federal income tax of $2,982.90
You also need to consider the FICA and state income taxes, although the former is covered by most employers and the latter isn’t taxed in all states.
The Federal Insurance Contributions Act moves 1.45% of your gross wages to Medicare and 6.20% towards your social security tax, which means you’ll have to deduct a further $3,023 from the amount we’ve reached above.
When it comes to state income taxes, the rates vary greatly. Nine states have no income tax at all. If you live in one of them, your net yearly pay would be $36,496. However, 10 states use a flat rate, and 32 apply a progressive tax model similar to the federal income tax system. The median state income tax burden is 10.2%, which would take you take-home annual salary to around $33,786.
Note: These are all just estimates. There are several variables to factor in. Use an online paycheck calculator to get a more precise figure.
As you can see, there’s quite a big difference between gross and net pay, especially in places like California and New York, where state income rates are over 10%. The number of hours you work a day and the unpaid holidays you take also count into the equation.
Hopefully, though, our calculations have given you an idea of how much you can earn at your $19/hour job. Of course, whether it’s a good pay depends on your individual circumstances. But generally speaking, the wage could make for a decent living income, especially if you know how to save money and manage your expenses.
This mostly depends on where you live and, of course, how much you work. Essentially, 19 dollars an hour works out to $760 per week or $39,520 per year pre-tax, providing you take no time off.
That’s enough for luxury living if you’re a digital nomad in the Balkans, a reasonable mortgage payment in many places in the US, or a small flat rent shared with friends if you’re eyeing up Manhattan.
This depends on how much you’ll work, but assuming a 40-hour work week, you’re looking at $800 per week. If you don’t take a single week off during the year, that’s $41,600. Yet if we are a bit saner about it and assume at least one week of holidays, that’s $40,800 pre-tax.
The same logic applies here as when calculating annual income for $19 an hour – simply work out your work week and how many weeks you’ll be working. Assuming a standard eight-hour work day, five days a week, at $30/hour, you’ll earn $1,200 per week and $62,400 per year pre-tax if you take no weeks off during the year.
If we go with the standard 40-hour work week and assume everything is gross pre-tax pay, you’ll need to make just over $960 per week, or a bit more than $24 an hour.
Yes, absolutely. When we looked at the answer to an earlier question, “How much is $19 an hour, if working 40 hours a week?” that figure came to $39,520 per year pre-tax, assuming you take no time off. Now, $65,000 per year leaves you with substantially more money: $1,250 per week, and around $31.25 per hour, to be exact. Good enough to be well above the average, for sure.