$15.50 an Hour is How Much a Year? Convert your hourly rate and learn about all your salary questions today. Plus we brought you some extra bonus information and a simple to use salary calculator for all your $15.50 hourly wage questions and specific financial situation.
$15.50 an Hour Salary Simple Overview
$15.50 an hour is $32,240 a year working full-time for all 52 weeks a year.
This is a simple breakdown of the salary that would be earned if you made $15.50 an hour. Keep reading to find more detailed answers to your salary questions, as well as a detailed salary chart breakdown and a salary calculator that can be changed for your exact situation.
|Work Hours||Yearly||50 Weeks||Monthly||Bi-weekly||Weekly|
$15.50 an Hour is How Much a Year? Full-Time 40 Hours a Week For 52 Weeks
Working Full-Time at 40 hours per week for all 52 weeks in a year, making $15.50 an hour would earn an annual salary of $32,240 per year before taxes.
If you work over 30 hours per week, than you are considered full-time. In this article we used 40 hours per week for the calculations, because that is the most common full-time work schedule in the United States.
For this salary it is assumed that you either get paid vacation or you don’t take any vacation and you work all 52 weeks in the year. This equals 2080 hours of work per year year for a full-time schedule. Keep reading to learn how the 15.50 annual salary was calculated.
$15.50 an Hour Working Full-Time With Unpaid Vacation (50 Weeks)?
$15.50 an Hour is How Much a Year working full-time with unpaid vacation?
If you work full-time at 40 hours per week for 50 weeks in a year (Assuming 2 weeks unpaid vacation time), 15.50 per hour annually would be a salary of $31,000 per year before taxes.
$15.50 is How Much a Year Working Part-Time 30 Hours a Week?
15.50 dollars an hour is how much a year working part-time?
Working part-time at the maximum of 30 hours per week and making $15.50 an hour, would earn a Yearly Salary of $24,180.
$15.50 is How Much a Year Working Half-Time 20 Hours a Week?
How much a year is 15.50 an hour working half-time?
Working Half-Time at 20 hours per week and making $15.50 an hour, would earn a $16,120 Yearly Salary.
How Much Will I Make Each Month?
Some months have more work hours than other and some months have less work hours than others, but taking the average of the 12 months in the year you will make an average of:
$2,686.67 a month working full-time
$2,015 a month working part-time
$1,343.33 a month working half-time
How Much Will I Make Getting Paid Bi-Weekly?
If you work two 40 hour full-time weeks for a total of 80 hours you would be paid $1,240.
If you work two of the maximum part-time 30 hour weeks for a total of 60 hours, your weekly salary would be $930 a bi-weekly.
If you work two half-time 20 hour weeks for a total of 40 hours , your weekly salary would be $620 a bi-weekly.
How Much Will I Make Getting Paid Weekly?
If you work a full-time 40 hour week your weekly salary would be $620 a week.
If you work the maximum part-time 30 hour week, your weekly salary would be $465 a week.
If you work a half-time 20 hour week, your weekly salary would be $310 a week.
How Much Will I Make Each Day?
For an average full-time 8 hour workday you will earn $124 a day.
$15.50 Detailed Salary Chart
All salaries (except Year (50 Weeks) assume a entire work year of 52 weeks. Potential extra overtime pay (time and a half) is also not taken into account in these salary calculations.
Jobs That Earn $15.50 an Hour in 2020
Find Fantastic Job areas that earn an average of $15.50 or more an hour according to the U.S. Bureau of Labor Statistics (BLS):
How Does Earning $15.50 Per Hour Compare to Other Salaries?
According to Trading Economics the Average Hourly Wages in the United States is currently $24.74.
This makes $15.50 an hour wage 37.3% below the national average in the United States. Even though this is below the average in the United States, this is still a good salary depending on where you live in the country or depending on your work experience.
$15.50 is more than twice the federal minimum wage of $7.25 per hour.
5 Ways to Improve Your Salary
- Ask for a Raise – This is one of the simplest and most overlooked ways to increase your salary. If you haven’t got a raise in a while and are doing above average work, than don’t be afraid to ask for the money you deserve. If your boss tells you no, then ask them what exactly do you need to do or work on to get that raise.
- Find a New Job – Don’t be afraid to explore new job opportunities, you might find that getting a better paying job is easier than you think. You can also find jobs with better benefits, such as health insurance that add to your overall salary.
- Go to School – This is the most obvious way to get a better salary, but takes a lot of time, effort, and money to complete. Start small and cheap at a community college. You can receive an associates degree that is sure to get you a better salary, while also doing it for a fraction of a traditional college. All the classes you take at a community college should also transfer to a regular 4 year college if you decide to continue your education.
- Complete a Certification Program – You can complete classes and programs in a wide-variety of job areas. These are usually cost friendly and don’t require as much time commitment as college. Show your employer that you are an expert in a given area and you deserve to be paid as such.
- Work Towards a Promotion – Most people are complacent in where they are in their job, don’t be like them and always work towards a higher position. Showing the extra dedication and willingness to move up the work ladder can lead to better paying opportunities.
Total Working Days and Hours in 2020
In 2020 there are 262 working days or 2096 working hours (Excluding Weekends, 366 days total in 2020). There are also 10 Federal Holidays in 2020, that are not taken into account in this. The Following is a breakdown of the working days in each month:
|MONTH||NUMBER OF WORKING DAYS|
|JANUARY 1-31 **||23|
|FEBRUARY 1-28 *||20|
|MAY 1-31 *||21|
|JULY 1-31 *||23|
|SEPTEMBER 1-30 *||22|
|NOVEMBER 1-30 **||21|
|TOTAL WORKING DAYS IN CALENDAR YEAR 2020||262|
How We Calculated The $15.50 Per Hour Salaries
We will use the following assumptions below as an example on how to calculate an annual salary to help you on your financial journey.
For a worker that earns 15.50 dollars an hour we will show you how we arrived at the annual salary of $32,240.
Considering a full-time worker usually works 40 hours per week, and with there being 52 weeks per year. This also assumes the full-time worker has paid vacation or works all 52 weeks per year with no vacation. With this baseline information we find that the total hours worked for a year would equate to 2080 hours worked per year (40 x 52 = 2080).
To calculate the total annual salary at $15.50 an hour, the result is obtained using one of a couple different formulas. First it can be obtained by multiplying your base salary by the number of hours worked weekly and then multiply that by the weeks in a year that were worked. This equation will be 15.50 x 40 x 52 = $32,240. Or you could multiply the hourly pay by the total hours worked in a year 15.50 x 2080 = $32,240 to get the equivalent annual salary.
Just change out the pay, hours, or weeks in the calculations above for your own situation, as we did earlier with part-time and half-time hours.