If you’re making $28 an hour, it’s a wage you can comfortably live on in most parts of the United States. In big cities, however, it may be hard to make ends meet. $28 an hour is how much a year, and will it be enough?
It’s way above the minimum wage in the U.S. and slightly above its average pay of $27 per hour. Whether it will be enough depends on the number of people in your household and your location. $28 an hour is how much a year, then?
$28 an Hour Is How Much a Year, Including Taxes?
Let’s assume you work 40 hours per week. That’s 2080 working hours (including paid time off) in a year. So, before taxes, $28 hourly amounts to a yearly salary of $58,240. It’s a comfortable wage for a single person or a couple without children, unless you live in a big city.
How Much Is It Weekly, Biweekly, and Monthly?
$28 an hour is $1,120 per week, $2,240 biweekly, and $4,853 monthly. It’s a livable wage for one person in most parts of the United States. In some expensive areas, you may have to live frugally or get creative with your housing situation.
How Much Is It Per Hour of Actual Work?
Let’s say you get 2 paid weeks off per year. That means you work 50 weeks in a year, which is 2,000 hours. $58,240 yearly divided by 2,000 is $29.12. This is how much an hour of your work is actually worth.
$28 an Hour Is How Much a Year After Taxes?
Some people say it’s a shame how much of your salary goes into taxes. Regardless of your position, it’s good to know: $28 an hour is how much a year after taxes? It’s $41,333, assuming you’re filing single with no dependents and taking the standard deduction.
Of course, the exact amount you pay in taxes depends on many factors. These include the filing status, number of dependents, and deductions we’ve mentioned. But every state has its own tax law, so your location also matters.
Which Jobs Pay $28 Per Hour?
There are many jobs that are likely to pay $28 hourly. Here are some examples:
- social media manager,
- event planner,
- public relations specialist,
- website developer,
- graphic designer,
- event coordinator,
- administrative assistant.
$28 an hour is how much a year in these professions? Assuming they’re working full-time, they’ll make as much as any employee – $58,240 gross salary. However, if they’re freelancers or independent contractors, their employers won’t cover half of their taxes. This means their take-home pay will be lower than the $41,333 we’ve calculated before.
Is $28 an Hour a Good Salary?
It depends on who you ask and where you live. In some parts of the United States, it is considered a good wage. It’s more than the median hourly wage of $20.17 and the mean hourly wage of $27.07 nationwide. And it’s way above the minimum wage of $7.5 hourly, or even $15.20 in the District of Columbia.
Still, it may not be enough to support a family or live in an expensive city. The cost of living is rising, so it’s essential to understand your budget and expenses.
Where Can You Live Comfortably on $28 Per Hour?
If you’re single or part of a couple, you can live comfortably in most parts of the United States. For example, in Mississippi, the living wage for 2 adults without children is $22.57. With one child, this number rises to $26.48, so your wage can still cover all basic expenses. Other states with similar costs of living include:
- South Dakota,
- West Virginia.
You can also afford a one-bedroom apartment in all 50 states if you’re making $28 per hour. The exception is cities like San Francisco or New York, where renting such an apartment costs over $3000 monthly on average.
How Much Should You Spend If You Make $28 an Hour?
The answer to this question is personal and depends on your lifestyle. A good rule of thumb is the 50-30-20 budgeting method. According to this plan, you should spend 50% of your income on essential expenses, 30% on non-essential but necessary items, and 20% on savings and debt repayment.
Essential expenses include:
$28 an hour is how much a year – enough or not enough to have savings? It all depends on your spending habits and lifestyle. However, if you’re mindful of your budget and stick to the 50-30-20 rule, you should be able to save money regardless of your salary.
Do You Make $28 an Hour?
So, $28 an hour is how much a year? It’s $58,240 before taxes and $41,333 after taxes, on average. Of course, the exact amount you take home depends on your state’s tax laws and other factors.
How do you feel about it? Do you think it’s a good wage? Let us know in the comments below.