This article/post contains references to products or services of one or more of our advertisers or partners. We may receive compensation when you click on links to these products or services
Whenever you search for available job offers, the salary is likely to catch your attention before any other detail. How much you will be paid for your work is an essential part of deciding which job opportunities are worth your time.
Some employers post an annual salary for positions, while others list work at an hourly rate. When you’re reviewing dozens or even hundreds of listings, you need a quick way to convert salary to hourly and vice versa. If you apply for a job that pays $35,000 a year, what is the hourly result?
The short version
- If you divide an annual salary of $35,000 by the 2,087 hours that represent a full year’s work, $35,000 a year will earn you about $16.77 per hour.
- The actual hourly rate you earn depends on how many hours you work during the year. Holidays and part-time arrangements mean a higher hourly wage.
- Be sure to consider estimated taxes before accepting a new position—taxes will reduce your take-home pay.
- $35,000 is below the average annual salary in the US, but investing and other fairly passive income strategies can help increase your income.
$35,000 a year how much is hourly?
To calculate how much you’ll make per hour, you can use the figure that the US Office of Personnel Development (OPM) uses to determine wages for federal employees. OPM says 2,087 hours is the standard number of hours a government employee works in a year, which is roughly 40 hours per week.
If you work 2,087 hours, making $35,000 a year, that’s about $16.77 an hour. Again, this hourly rate is based on working a full 40-hour week, 52 weeks a year, with no time off. While overtime and holidays may mean you won’t work exactly 2,087 hours, it’s a useful starting point.
Earning $35,000 a year breaks down into:
- $16.77 per hour
- $134.16 per day (if you work 5 days a week, 8 hours a day)
- $670.80 per week
- $1,341.60 every two weeks
Do you earn more than $35,000?
Factors affecting the hourly wage of a $35,000 annual salary
Since the 40-hour work week is fairly standard in most industries, it’s a useful metric when converting annual salary to hourly salary. However, the following job-specific variations may affect your hourly pay.
Your weekly work schedule
First, your hourly wage is naturally affected by how many hours you work. Someone making $35,000 a year and working 40 hours a week is making $16.77 an hour. But if you only work part-time, say 20 hours a week, your hourly wage doubles. You will work about 1,043 hours and earn about $33.56 per hour.
A higher hourly rate will determine how much extra work you can do outside of your job to reach your goals, as well as give you a good idea of what your time is worth. Understanding the hourly rate will also be helpful if you’re comparing two positions with a salary of $35,000 that offer very different hours.
Another factor in your hourly rate is whether or not you leave work. The figure of 2,087 hours requires working throughout the year without a break outside of regular weekends. Most people need some time off, whether it’s a few days of sick leave or several weeks of vacation.
So, when talking to hiring managers or recruiters, be sure to factor in vacation time. If your leave is considered paid leave, it will not decrease your annual salary. This means that your hourly rate effectively increases with each day off.
|Paid days off||Number of hours worked||hourly wage|
What is $35,000 a year after taxes?
Of course, that conversation changes when $35,000 is your gross salary, not your net salary. Taxes take a portion of your income. When budgeting based on a salary of $35,000, be sure to adjust for federal and state taxes.
For the 2022 federal tax brackets, a salary of $35,000 puts you in the 12% marginal tax bracket. (This assumes you are single or married filing separately. If you are married filing jointly, your tax bracket will depend on the total of your income and your spouse’s income.)
As an individual, the first $10,275 of your income is taxed at 10%. The next $24,725 would be taxed at the 12% marginal rate. In this example, there is about $31,005 left in your take-home pay after federal taxes. FICA taxes, for Social Security and Medicare, reduce gross pay by another 7.65%.
State taxes likely apply as well, and these vary from state to state. Illinois charges a flat income tax rate of 4.95%, for example (it takes about $1,732 from your overall salary). Ohio, on the other hand, has a bracket system like the federal government, so for your 2021 income, you’ll pay $0 on the first $25,000 of income. The amount charged beyond that would be around $622.
Keep in mind that you may be able to lower your federal tax bill by contributing to a 401(k) or IRA. There may also be other deductions that reduce your taxable income.
Related>>Minimize Your Tax Bill: Top Legal and Illegal Methods to Pay Less Tax
How much is $35,000 a year biweekly?
Many employers pay on a biweekly schedule, issuing paychecks every two weeks. If yours pays this way, you can use the fortnightly earnings estimate to help you plan your budget, including saving for emergencies.
If you owe absolutely nothing in taxes, you could expect to earn $1,341.60 every two weeks. Since you likely pay taxes, you can use a program like TurboTax to help you calculate how your paychecks would be affected.
How much is $35,000 per year per month?
The first instinct might be to simply double the amount of the bi-weekly check to get $2,683.20 per month. However, not all months are exactly four weeks long, so some months will give you “extra” paychecks.
You can make a rough estimate by simply dividing $35,000 by 12 to get $2,916.67 per month. Remember, though, that you may not get paid monthly, so plan around your compensation schedule.
Is $35,000 a year a good salary?
How good a $35,000 salary is depends a lot on where you live. The Bureau of Labor Statistics (BLS) lists the latest US average hourly wage on private payrolls as $32.27 in July 2022.
Earning $16.77 an hour puts you below the national average. But keep in mind that $35,000 a year will stretch much further in Midwestern or Southern states like Ohio and Tennessee, which have a lower cost of living. Conversely, it would be very difficult to manage on a $35,000 salary without additional income of some kind in more expensive regions like the Northeast and West Coast.
How to increase your income
If you’re making $35,000 a year, you may be looking for ways to increase your income or hourly wage. Often, asking for a raise at your primary job or taking a well-paying job with a new employer is most effective.
But if none of these strategies are realistic options right now, you can explore passive investments and income streams that put more money in your pocket without spending more time. While your $35,000 income may not leave a ton of wiggle room, you can start investing even small amounts in stocks, including dividend stocks.
Working harder is another option. In the long run, this is a less optimal way to increase your income. But it can help you make ends meet and reach your goals. Sometimes this can be in the form of overtime or doing a side hustle in your spare time, such as self-employment or gigging through a carpool or food delivery platform.
The bottom line
A salary of $35,000 would be about $16.77 per hour if you work full time. You can adjust this hourly rate if you work part-time, and vacation time will also be a factor. Other benefits such as health care or flexible work arrangements could make a job paying this salary more worthwhile.
While this isn’t a very high hourly rate and taxes will lower it further, there are ways to increase your income. Working toward a high-paying job or creating passive income opportunities can help you set up a more comfortable financial future.
Small but powerful investment tips >>