Whether you already make $50k a year or are looking into making this amount of money, you may be wondering, “$50,000 a year is how much an hour?“
Below you’ll find the answer, plus a simple way to figure this out. We’ll also break down $50k in other ways, like daily, weekly, monthly, etc.
Also, if you don’t make $50,000 yet, there are some tips to make this income amount in no time.
If this sounds good to you, let’s get right to it.
$50,000 a Year is How Much an Hour?
$50,000 a year is $24.04 an hour but can vary based on how many hours you work a year.
Here’s a quick way to figure this out. Later in the post, we’ll go into more detail so you can tailor the calculation to your situation.
$50,000 Salary to Hourly
- 40 hours × 52 weeks = 2080 hours
- $50,000 salary ÷ 2080 hours = $24.04 Hourly Pay Rate
50k a Year is How Much an Hour, Daily, Weekly, Biweekly, and monthly?
If you want some additional ways to break down a $50,000 salary, the table below will come in handy.
These calculations assume a salaried worker is paid for the entire year of 52 weeks and 40 hours a week with no paid overtime.
Hours include actual working days combined with paid time off, such as vacation time, holiday pay, and paid sick leave.
|$50,000 Salary Pay Period||Wages||Quick Math|
|Per Hour||$24.04||40 hours × 52 weeks = 2080|
$50,000 ÷ 2080 = $24.04
|Per Day (8 hours)||$230.80||$24.04 × 8 = $192.32|
|Per Week (40 hours)||$1154||$24.04 × 40 = $961.60|
|Biweekly (Every Two Weeks, 80 hours)||$2308||$24.04 × 80 = $1923.2|
|Per Month (160 Hours)||$3846.40||$24.04 × 160 = $3846.40|
How Much an Hour is $50,000 a Year? (Detailed Breakdown)
By now, you already know the answer is $24.04. However, I’ve only given you a brief explanation for figuring this out; now, it’s time to provide you with all the details.
Because, after all, if a calculation doesn’t apply to your unique situation, it’s worthless.
The above calculation assumed an employee was paid for forty hours per week for the entire year, including any paid time off.
But you may work more or fewer hours a year than this.
And that’s precisely why I’m going to give you a more in-depth breakdown right now.
Personalized Method To Figure Out How Much an Hour is 50000 a Year
1. How many hours do you work a week?
Find out exactly how many hours are in your work week. The average person works 40 hours every week, but this may not be the same for you.
Are your hours different from one week to the next? If so, take your average hours.
2. How many weeks do you work or get paid per year?
The typical workweek for employees is forty hours, but your weekly working hours might be more or less.
The total amount of workweeks should include how many weeks you worked and any paid time off.
3. How many hours do you work per year?
To calculate your yearly hours, multiply your weekly hours by the number of weeks you work a year.
4. With all this information, we can now calculate how much you make an hour.
To figure this out, divide $50,000 by the hours you work per year.
$50,000 Salary Hourly Quick Recap
Here’s a little cheat sheet to calculate your $50k salary hourly.
- (Weekly Hours) x (Weeks Worked Per Year) = Work Hours Per Year
- $50,000 ÷ (Work Hours Per Year) = Hourly Wage
$50,000 a Year is How Much Hourly After Taxes?
So far, we just have been talking about gross income, but what about after taxes?
Calculating your rate of pay after taxes can get tricky because income tax rate and deductions can vary among all workers.
But, you can still use these two methods to get a rough estimate of your state income taxes and federal taxes.
These states don’t require you to pay state income tax.
- New Hampshire*
- South Dakota
* New Hampshire taxes dividends and interest but doesn’t have an income tax.
- Prior Year Tax Returns or Paystubs. Use your past tax returns or pay stubs to figure out your net pay. Net pay is the amount after your federal income taxes and state taxes, if applicable, are taken out.
- Tax Calculator. If you haven’t started the job yet or want a quick estimate, use a tax calculator to figure out your net income.
Prior tax returns or paystubs showing your wages and hours will most likely be the most accurate method to get an idea of your state and federal tax rate. But, both ways will give you a rough guesstimate of your take-home pay wages.
How to Make $50,000 a Year
Need a little guidance on how to make $50,000 yearly? These tips and ideas will help you reach your salary goals.
Ask for a pay increase.
If you’re currently employed, ask for a pay raise.
Maybe even with a wage increase, your yearly salary would still be less than $50,000 but moving up a salary level is always a good thing.
Find out exactly how to ask for a raise because there’s a right and wrong way to do it.
Large employers typically have room for advancement. However, if there isn’t much potential for wage growth from the employer you work for, you may think about looking for another job or adding another income stream.
If you’re already at the top of the pay scale for your current role, think about advancing up within the company.
Companies often want to fill jobs with internal candidates, which can be beneficial for you.
Most HR departments or your boss should be able to tell you about different career paths within the company.
Start an online venture.
With so many ways to make money online, now is a great time to start a new profitable venture.
Have you always wanted to be your boss and get paid for working at home? Then this is definitely for you.
Making money online isn’t always as easy as everyone makes it appear; it still requires discipline and hard work.
Plus, it takes time to grow your business and start seeing income.
Start a side hustle.
If you have a full-time or part-time job that pays less than $50,000 a year, start a side hustle to make some extra money.
Some side hustles generate a passive income, so they’re easy to do alongside your current nine to five job.
If you already have a job, your current income combined with another income stream could amount to $50,000 or more.
Who knows, maybe your side business could even become your full-time job.
Here are some ideas:
- Sell real estate or flip houses
- Teach or tutor online
- Walk dogs or petsit
- Sell handmade goods on Etsy
- Freelancer: Offer a skill or service and freelance for different companies.
Land a $50k a year job.
Sometimes the most straightforward answers are the best. If you’re looking to make $50,000 a year, find a job that pays that amount of money.
There are many $50k job ideas in the section below. Just be aware that some of them require a college degree or training.
Luckily, these jobs pay $50,000, and you only need a high school degree; that’s a great paycheck.
$50,000 A Year Jobs
Want to know what jobs pay $50,000 a year?
The table below shows jobs that pay an average yearly wage of $50k. This data is from the United States Bureau of Labor Statistics and includes occupations with an average annual salary of $50,000.
These are all estimated salaries from every state, plus the District of Columbia. The pay rates might vary depending on the state you live.
|Jobs That Pay $50k||Average Annual Wage|
|Environmental Science and Protection Technicians, Including Health||$50,550|
|Community and Social Service Specialists, All Other||$50,510|
|Coaches and Scouts||$50,550|
|Dancers and Choreographers||$50,280|
|Health Technologists and Technicians||$50,300|
|Cement Masons and Concrete Finishers||$50,900|
|Paving, Surfacing, and Tamping Equipment Operators||$50,590|
|Solar Photovoltaic Installers||$50,710|
|Extraction Workers, All Other||$50,960|
|Automotive Body and Related Repairers||$50,660|
|Other Installation, Maintenance, and Repair Occupations||$50,730|
|Chemical Processing Machine Setters, Operators, and Tenders||$50,760|
|Heavy and Tractor-Trailer Truck Drivers||$50,340|
50k Hourly: How Does it Compare to Federal Minimum Wage?
Currently, the federal minimum wage is $7.25 per hour, as cited in the Fair Labor Standards Act.
According to the United States Department of Labor, the state minimum wage rate could be higher than the federal minimum hourly wage because some states set their own.
Comparing $50,000 Hourly to Federal Hourly Minimum Wage
Compared to an hourly rate of $24.04 for someone who makes $50k per year, this is significantly more than the federal wage rate.
To be precise, it’s a 232% increase!
It’s good that the hourly earnings of $24.04 are well above the national minimum wage.
But the problem with comparing the two wages is the minimum wage is hardly a living wage for working people, especially when you consider it’s not enough to compensate for rising inflation.
According to the Economic Policy Institute, some economists believe there needs to be a higher minimum wage.
They cite, “A $15 minimum wage by 2024 would result in $121 billion in higher wages for 39.7 million low-wage workers, which would also benefit their families and their communities.”
Hopefully, we’ll see a new minimum wage in the future.
So as you can see, since the federal minimum wage is so low, it isn’t the best comparison to know if $50,000 is a good salary or not.
So how can we determine if a gross annual income of $50,000 is good or not? I’ll go over all of this in the next section.
Is $50,000 a Year a Good Salary?
Depending on your circumstances, making $50,000 a year has the potential to be a good salary.
But, for others with a large amount of debt, who live in a place with a high cost of living or have a high amount of expenses, $50k may not be enough.
In addition, making $50,000 annually may not be adequate to offset the cost for inflation.
Whether $50k is a good or bad yearly salary is highly individual to you and your financial situation.
Is $50k a Year a Good Salary for You Specifically?
Because saying the answer depends on your financial situation is vague, I want to help you dig a little deeper.
Let’s examine if this is a good salary for you or not because I want you to be 100% sure.
First things first, you have to make a budget.
Because without a budget, you won’t know if this amount of money will cover your expenses.
Making a budget might sound scary or complicated, but taking this budget challenge will simplify the process.
The budget challenge will help you, but if you don’t have the time to read an entirely separate post about it, all you need to do is one thing.
Either write down or type on the computer every single expense you have. Then, add up all your expenses.
Evaluate if $50,000 is enough.
Now that you’ve made your budget, it’s time to see if $50k a year will cover all your expenses.
Subtract your expense total from your net pay. Net pay is the income you earn after taxes are taken out of your paycheck.
Don’t forget about savings.
The best-case scenario would be that your salary covers expenses and enough money to build your savings and emergency fund.
Having savings and an emergency fund will prevent you from living paycheck to paycheck.
How Does a $50k Salary Stack Up?
If this salary amount is enough for you, that’s awesome. Now you know that $50k is a good salary for you.
However, if you end up in the red after completing your budget, don’t worry. You may have to cut spending to make a $50k salary enough.
If you need some help managing your finances, these posts are packed with wonderful tips.
- 10 Amazing Apps That’ll Help You Budget
- 20 Money-Saving Grocery Tips (Without Coupons)
- Best $500 Savings Challenge With Free Printable
Final Thoughts: 50000 a Year is How Much an Hour?
By now, you should know that $50,000 a year comes out to a $24.04 hourly rate. But, of course, this varies depending on how many yearly hours worked.
Whether making $50k is a good salary is highly individualized to your money situation.
For many, this is an excellent salary, but it can’t cover all the bills for others.
Lastly, if you don’t make $50,000 but want to, all of the ideas mentioned in this post will help you reach your $50k salary goal.
Want to make more than $50k?
Here are some posts to help you make even more money.
- How To Make $60,000 Annually
- Six-Figure Earners: Guide To Making $100,000+
- Best Jobs That Pay $30 an Hour
About the Author
Annie Brown is a frugal living expert and the founder of Savvy Honey.
Her expert advice has also been featured in Yahoo Finance, BuzzFeed, GOBankingRates, Woman's Day, MSN, The Spruce Crafts, and more.