This post may contain affiliate links. Please read my disclosure for more information.
Are you considering a job that offers 30 dollars an hour but wonder if that’s enough for you to live on? Maybe you’re wondering how much $30 an hour is annually?
Or you’re working out how much that hourly wage is after taxes? In this article we’ll be answering all of these questions and more.
$30 An Hour is How Much A Year?
$30 an hour is $61,400 a year of gross income.
Before taxes and any other expenditures that you have to make, $30 an hour equals $61,400 yearly income at gross pay. And, that is if you are working full time.
This is calculated off hourly pay using a standard, 40 hour work week. Once this is multiplied by 52, the number of weeks in a year, you reach the number 2,080.
This is the number of hours you’ll work every single year for 52 weeks of work if you are working full time. To calculate $61,400 yearly salary, all we had to do is multiply our total hours of work for the whole year by our hourly wage rate. Which in this case is 30 dollars an hour.
This then results in $61,400. Of course this is gross income, before income taxes are taken out. Obviously this is taking paid and unpaid time off, overtime, and any other payroll deductions into account. So, technically if you work full time, you won’t actually work the full 52 weeks a year.
So, it’s important to take this final figure into consideration when calculating your yearly income from your individual hourly pay.
After taking this all into account however we can work out that our total for the year after income taxes is $46,800.
The minimum hourly wage in America is currently set at $7.25 and hasn’t been moved since 2009, when it was $5.15 hourly pay.
But based on what state you’re in this can change. For example, Washington D.C has the highest state minimum wage which is set to $15, so just half of 30 dollars an hour.
Whatever minimum wage is the highest from the state and federal laws is the one that you’ll receive.
But you probably have questions about living on an hourly wage of $30. So let’s break that down next.
More Reading: How Much is 4 Figures?
How Much Is $30 An Hour A Week?
Now that we’ve broken down the annual income when making $30 an hour, next let’s look at how much weekly salary you will get for 30 dollars an hour.
After doing some basic calculations we can work out that you’d be taking home $1,200 a week, every week of gross income. If you work the standard 40 hours a week and you are making 30 dollars an hour.
Then of course we have to total up income taxes, which means every week you’ll be taking roughly $960 a week home, after taxes.
How Much Is $30 An Hour Biweekly?
$30 an hour is $2,440 every 2 weeks if you are working 40 hours a week. After income taxes you will be bringing home $1,920 biweekly if you make an hourly wage 30 dollars per hour.
More reading: What is the 30/30/30/10 Budgeting Rule?
What Is $30 An Hour A Month?
To calculate what $30 an hour is per month for a full time job, we’ll do the same as working out as the week, but times that by 4. Alternatively we can just divide our yearly pay by 12 and we’re left with the monthly income for the hourly wage of 30 dollars an hour.
Therefore on $30 an hour every month you’ll be taking home $5,200 a month, without taxes. With taxes it’s looking more like $4,160 a month instead.
how Much Is $30 An Hour For A Day’s Work
$30 an hour is how much a day?
Let’s work out how much you’ll earn after a full day’s work if you are making an hourly rate of $30 per hour. If you work 8 hours a day (40 hours a week) you’ll make $240 a day for a $30 hourly wage, without any overtime.
After the tax rate is accounted for, however you’ll be making roughly $180 instead each day.
More Reading: $15 an Hour is How Much a Year?
How Much is $30 an Hour After Taxes?
Taxes vary on your annual income depending on what state you live in and a lot of different factors. However, the average amount that will come out of your hourly wage pay is 18.4%. So your take home pay will be after these taxes are subtracted.
This is because every citizen of the United States has to pay federal income tax and social security. But state and municipal taxes vary greatly from state to state so your hourly rate can end up being more depending on where you live.
For example, in New York after an hours work at $30 you’d receive $23.09. Whereas in Texas the state and municipal taxes are different, and you would receive $24.70 as your hourly wage after taxes.
This is why it’s important to check how much state and municipal income tax is in your state so that you can accurately estimate your earnings. You can use an after taxes calculator like this one.
There’s also a few states that have no state income tax on yearly salary income, these are:
- New Hampshire
- South Dakota
So your take home pay is always going to be higher in these states off 30 dollars an hour than in other states.
What About Vacation Days?
Paid vacation days are always going to play a large part of your income, and so we’ve incorporated these days into your yearly salary total.
But if you’re allotted 2 weeks of paid vacation then you’re entitled to $1,920 worth of vacation days every single year after taxes.
Which is a lot of money, so it’s important to use those days of vacation!
30 an Hour Salary For Working Part Time
If you are working part time and then your 30 an hour annual salary will be $31,200 before income taxes. This is based on working 20 hours a week, the standard part time hours.
If you are working part time at 20 hours a week, then you multiply that number of hours by 52 weeks to get the number of hours in a year. And then, multiply that by $30 to know how much a year your pay is.
So, if you work 25 hours a week part time you can figure out your yearly salary this way:
25 hours x 52 weeks = $39,000 a year of income.
After income taxes, the 30 an hour annual salary is $24,960 for working part time.
How Many Working Days Are There In 2023?
The year 2023 begins on the 1st January, and ends on the 31st of December.
Altogether the year has a total of 365 days which is 105 weekend days, and 260 weekdays. Plus, there are 13 public holidays.
Because of this, if you worked 8 hours every day and didn’t do any extra overtime on the weekends, you’d have worked 2080 hours overall for the year. But, if we remove public holidays, then you will work 1.976 hours for your 30 an hour salary.
As we did before we can convert that time into our annual wage of $62,400 before taxes.
What Rent Can I Afford On $30 Per Hour?
There’s a really simple calculation that you can do that works for everyone, no matter your yearly salary income, to work out how much you can pay for rent.
Simply divide your annual before tax income by 40, and that’s how much you can spend on rent. So for our 30 an hour salary, let’s work it out.
Before taxes we have $62,400. Which means all we have to do is divide our income by 40. This gives us $1,560. Which means we have $1,560 monthly to spend on rent.
This isn’t bad at all, and can be alleviated by living in certain states, or living with roommates to split the rent. With a 30 an hour salary, you can afford decent housing for sure.
Can you BUy a House Making $30 Per Hour?
Yes, you should be able to buy a house on your annual salary if you make 30 dollars an hour. You will just need a good credit score and not a lot of debt. Try these 7 best credit repair companies if you need to fix your credit.
You need to keep your debt-to-income ratio to under 50% in order to add a mortgage loan from your yearly salary.
And, of course, you will need to save up money for a downpayment. But, with an FHA loan, you can have a down payment as low as 3.5% and still purchase a home.
What Kinds Of Jobs Pay $30 An Hour?
So now that we’ve worked the daily, weekly and annual salary from 30 dollars an hour, we can have a look at what jobs pay $30 an hour.
This list is obviously not complete but it’s a good guide on what sorts of jobs you can expect would pay around $30 per hour.
- Transportation, storage and distribution managers
- Subway+streetcar operators.
- Police Officer
- Working in construction
- Graphic designers
These are just a few examples, but generally you’d find that jobs that pay $30 an hour require some sort of training and a degree of skill or competence.
There’s loads of different career paths you can choose from to make 30 dollars an hour.
More reading: How Much is $20 an Hour per Year?
Is $30 An Hour Good Pay?
If you’re making $30 an hour then you’re well above the national average of $19.33 per hour. If you are working 40 hours a week you can live quite comfortably from your annual salary. And, you should still have enough money to enjoy yourself.
$30 an hour is a great annual salary, and one that you can depend on to keep you from living paycheck to paycheck.
Obviously this all comes down to where you live. The cost of rent, and basic goods such as groceries and toiletries can fluctuate from state-to-state.
How Can You Live Off 30 Dollars An Hour?
Financial freedom is entirely possible on $30 an hour, but it’s important that you live within the limits that are set by your salary.
No matter what salary you make, running out of money generally comes down to not planning effectively enough. Or, spending too extravagantly with the money that you have.
Plus, no matter what, you need to always make sure you are saving money as well. This guide on how much you should save each month will help guide you.
So here’s some ways that you can help plan our your finances, so that you’re never caught running low one month:
It seems obvious, but groceries and basic house goods add up over time.
You should always look for ways that you can save money wherever possible. Looking for deals and vouchers is never a bad idea.
Spending on food can quickly be a finance drainer if you are going out to eat a lot or not trying to save at the grocery store. Try these frugal food tips to help yourself out as well.
Have A Financial Plan
You can start monitoring your expenditures by creating a budget. That way you can keep track of where you are spending money, and where you can save any extra.
No matter how much or how little you spend, and what sort of budget you have, it’s always a great idea to have a financial plan. That will ensure that you spend your hard earned money wisely.
It’s so easy to do as well. You can either draw it out in a notepad or you can download a budget template online to get started on mapping out your expenditures.
Save Whatever You Can
No matter if it’s a few dollars or much more, it’s always a good idea to save money from paycheck to paycheck.
It really doesn’t matter how much you’re saving too as long as you save something.
Over time you’re going to see your overall balance increase, and if you keep at it, you’ll be surprised at how much you can save in just a few months.
Don’t worry about the numbers. Just enforce the standard of saving and over time you can increase the amount of money you deposit every month.
Check out these reasons you may struggle to save money.
As for our final tip, try to avoid debt at all costs. Even having tiny amounts of money indebted to your name can mean hundreds of dollars worth of interest over years.
While it’s good practice to purchase goods on your credit card, make sure you pay them off immediately to avoid interest charges.
What If $30 Isn’t Enough For Me?
With proper planning and carefulness not to spend too extravagantly, $30 an hour is well above the national average, and you should be doing well. But what if you want more?
Perhaps you simply want more revenue, or you’re saving for the future. Here’s a few ways that you can boost your revenue, in a relatively short amount of time:
Get A Raise
Obviously this won’t be an option that everyone can take, but it’s never a bad idea to ask an employer if a raise is possible.
You could be surprised by the answer! And, at the very least they’ll give you some advice on how you can go about getting a raise in the future.
Look For A Second Job
Part time work is something that’s always needed all over the world.
So, if you’re looking for extra revenue, perhaps it’s not the worst idea to look for extra part time work while you’re free.
Just remember to not let your part time job affect the quality of your performance in your other job. The downside here is if you are already working a full time job at 40 hours a week, adding another one may be too much.
Sell Your Stuff
One quick and easy way to increase your income is to sell things you don’t use anymore. Whether it is clothes, tools, electronics or furniture you can make extra cash selling items.
If you have a particular skill or hobby that you’d like to turn into a career, then it’s never a bad idea to look into the freelance marketplace.
You could turn that passion of yours into a legitimate business that you can make money from.
This could be anything from carpentry, to writing or teaching Yoga.
Answer Surveys And Questionnaires
Online there’s hundreds of different surveys and questionnaires that you can earn money from by filling out.
It isn’t a lot of money but it is a relatively easy and efficient way to get some more cash in your back pocket.
Is $30 An Hour Good?
Yes, $30 an hour is good pay. You should be able to afford living expenses and have some extra in your pocket each month.
And, it is twice the amount of $15 an hour annually!
Final Thoughts On 30 An Hour Annual Salary
Overall, earning $30 an hour is something that’s certainly desirable. And, if you plan your finances accordingly you’ll most likely never struggle financially.
Having family to support can put a certain strain on your income, but even with less you can still support them.
And, still save money each from each paycheck.
So making $180 a day certainly isn’t going to be too stressful, especially if you live on your own.
We hope that this article has been useful for you to understand how a person would live on $30 an hour.
While it may seem daunting at first, finances are an easy thing to control once managed correctly, so use some of the methods we used and get saving!
RELATED SMART MONEY POSTS:
HERE ARE MY FAVORITE BUDGETING AND SAVING APPS:
Acorns which takes your spare change from purchases and invests it for you to help you make even more money.
Personal Capital for money management. Get a money dashboard, free analysis and personalized wealth advice.