$36 an Hour is How Much a Year?

If you’re applying for jobs, you’ve probably noticed that the rate of pay can be expressed in two ways. Firstly, it might be shown as a yearly income. Alternatively, your employer may tell you how much you’ll receive per hour.

Those on an hourly rate might be curious about how their hourly wage translates into a yearly salary. How much, for example, is $36 an hour over a year? 

Well, let’s take a closer look and find out exactly… $36 an hour is how much a year?

How to Calculate $36 an Hour Over a Year?

Before you start, it’s important to think about how many hours a person is working. Full-time employees on an hourly rate will obviously make more than part-time employees. So, how many hours does each person work a year?

Full-time employees

The average full-time staff member works 40 hours a week. That’s eight hours a day, five days per week. This does not take into account any overtime or extra work they may be doing.

Generally speaking, most full-time employees take two weeks’ vacation each year. That leaves them with 50 weeks to work. So, 50 weeks multiplied by 40 hours brings us to 2000 working hours per year.

So, how much money is that?

To work it out, simply multiply the hourly wage by the number of hours worked in a year. 36 x 2000 = $72,000. Therefore, $36 an hour gives a full-time staff member an annual salary of $72,000.

It’s worth noting, though, that this is based on the average number of working hours for full-time employment. In many industries, full-time hours could be far more than this. Someone working 45 hours a week, for example, has 2,250 hours of work over the year and would make $81,000 before taxes.

Part-time staff

For those working part-time, hours of weekly work are usually between 20-29. Over the course of a year, that’s 1,000-1,450 hours (including vacation). And you can work out the yearly compensation in exactly the same way.

A part-time worker on $36 an hour would receive anything from $36,000-$52,000 a year. But, of course, it could be far less than that. It just depends on how many hours the job entails.

$36 an Hour is How Much a Year without Vacation Time?

But what if you don’t want a vacation? If you’re after a little more of that sweet moolah, jobs with an hourly rate are a great way to build up your savings. It just depends on how many hours your employer is willing to give you.

Let’s assume your employer is on board and is willing to pay you for the entire year. That’s an extra two weeks of work or an extra 80 hours a year for full-time staff. So now, someone working 40 hours a week, 52 weeks a year, would earn $74,080.

And what about part-time employees?

Similarly, part-time staff would get a little cash injection if they work 52 weeks a year. Someone working 20-29 hours a week would be doing an extra 40-58 every year. That means, in total, they would receive $37,440-$54,288 in yearly salary.

Don’t forget!

Even if you want to work for 40 hours a week, 52 weeks a year, you might not be able to. Groups such as minors are not allowed to work over a certain number of hours. If you want to check the laws in your state, the U.S. department of labor can tell you everything you need to know.

Working on Holidays

The good old US of A has a lot of national holidays. And on these days, you may not be able to work even if you want to. Many businesses close for occasions such as Christmas, Thanksgiving, and New Year’s Eve/Day.

If you want to see a complete list of all the American national holidays, you can find one here. However, check with your boss before taking the day off! It’s up to your employee’s discretion whether the business is open or not.

$36 an Hour is How Much after Taxes?

As the old saying goes, three things are inevitable: birth, death, and taxes. And when it comes to taxes, it’s important to remember that these calculations do not take them into account. What we’ve seen so far reflects the gross income, not the net.

What does that mean?

Simply put, it’s the overall amount you earn versus your take-home pay. And after tax, social security, insurance, and other deductions, your take-home pay will be lowered. 

So how much tax will I pay?

Well, that depends because a number of factors determine how much tax you must pay. Tax bracket, income level, state taxes, and local taxes: these all play a part.

Taxes can be complicated. If you’re not sure how much you should be paying, check out this helpful tax-withholding estimator. It should give an idea of how much your employer will hold back from your paycheck.

Is There Anything Else to Think about When it Comes to Earnings??

Of course! Take job benefits, for example. Things like paid time off, health and dental insurance, 401K, and retirement plans all need to be taken into account. While they may not affect the figure you take home, they certainly have a high value when you consider the overall compensation for the job.

Does the job have the potential for making even more money? If it has a clear career path, this can make a position more valuable than others. It’s not just the hourly rate that should be thought about before taking on a new role.

Is $36 an Hour a Good Wage?

The current federal minimum wage is just $7.25 an hour. So, compared to that, it absolutely is! But that doesn’t mean it’s good everywhere.

Why not?

As you’re no doubt aware, we’re in a cost-of living-crisis. Everything is getting more and more expensive. That means that $36 does not go as far as it used to.

However, not all states are affected equally by this. Some states that already had a higher cost of living are struggling more than their cheaper counterparts. $36 an hour is an awesome wage in some parts of the country but is barely a drop in the ocean in others.

For example…

$36 an hour isn’t all that great for someone living in San Francisco. When you consider transportation costs, housing expenses, and food bills, that $36 soon disappears. That means a person living somewhere like San Francisco might have lower living standards than someone in a cheaper area.

The states with the cheapest include Mississippi, Oklahoma, and Kansas. And O.K., they might not be as exciting as California or New York. But if you’re earning $36, you may be able to achieve a much higher standard of living.

Want to Make Sure You are Earning as much as you Can?

Well, it’s important to understand the financial terms used, so check out our guides to Salary vs Hourly Pay or Part Time And Full-Time Hours to find out what works for you. You may also need to know How Do I Convert Salary To Hourly To Calculate A Part Time Rate.

Next, why not take a look at some Flexible Jobs That Let You Set Your Own Hours, the top 20 Part-Time Jobs That Pay More Than 20 Per Hour, and the best 15 Part-Time Jobs That Pay More Than 40 Per Hour?

Lastly, you need to decide on What Are Your Salary Expectations, and for career advice for that all-important interview, find out How To Answer Desired Salary, as well as How To Counteroffer Your Salary After A Job Offer in 2023.

Final Thoughts

Figuring out how much a year is $36 an hour is an easy process. Just work out how many hours a week you work and multiply that by the number of weeks you work in a year. Multiply that by $36, and you’ll find your yearly salary.

So, for a full-time worker on 40 hours a week, with two weeks of unpaid holiday, that equals 2000 hours x $36 = $72,000.

But don’t forget! That number isn’t the amount you take home at the end of the day. Taxes and other deductions need to be considered as well.

All the best, and enjoy your earnings!