$35 an Hour Is How Much a Year? Best Ways To Make The Most Of Your Annual Income

“$35 an hour is how much a year?”—this may be the first thought running through your mind if you get a job offer that pays that much hourly. How can you make the most of this income? Let’s find out!

This article caters to a scenario where the pay rate is $35 an hour. Continue reading as we determine how much you can earn in a year, a month, a week, or a day, depending on the number of hours you work. 

We will also look at the after-tax income to know how much income you will have in your hand. You might also need a monthly or weekly estimate to determine how much you have to cover your expenses and fulfill your financial aspirations. 

$35 an Hour Is How Much a Year?

Here is how much you may make in a year if you work $35 an hour.

If you work full-time, you will be working 8 hours a day, 5 days a week with 52 weeks in a calendar year, or 2,080 hours annually. 

Number of weeks in a year = 52 

Number of hours worked in the year = 52 x 40 = 2,080

Total gross income at $35 per hour = 35 x 2080 = $72,800

Multiply these total hours to the hourly rate of $35, and you will get the amount of your gross annual pay. So, if you work for 40 hours a week and get $35 per hour, your yearly income will be $72,800.

The above figure does not include the hours taken off or spent on unpaid sick leaves. It also doesn’t consider extra work hours that entitle you to overtime pay. For instance, if you have taken unpaid time off, say 2 weeks, your gross annual salary will be around $70,000. 

Remember that most companies tend to give a minimum of two weeks of paid vacation time, and yours may be no different.

If you work part-time, for 4 hours per day and 5 days a week, or 20 hours per workweek, you would have worked for 1,040 hours a year, considering that there are 52 weeks in a year. Therefore, if you work for 20 hours a week and get $35 per hour, your yearly income will be $36,400.

How Much Is $35 an Hour Annually After Taxes?

Your net annual take-home pay is calculated once the tax amount has been deducted from the gross salary figure. Aside from the state income tax, your total deductions will include mandatory federal taxes and other items such as social security and Medicare. On the plus side, you may also get specific exemptions depending on your status and tax bracket. 

Additionally, different US states apply different tax rates, so your income will be subjected to a tax rate according to where you live or work. 

To make it easier for you to visualize, we will compute your deductions and net income based on two rates: Texas, where there is no state tax, and California, the state with the highest tax deduction. We will use this online tax calculator, so you can also check out other places where you may be working or residing.

Based on your gross annual pay stated above ($72,800), if you work full time at $35 an hour, your net yearly take-home salary will be $53,535 in California and $58,227 in Texas, after the corresponding $19,265 (26.5%) and $14,573 (20%) deductions have been made, respectively.

If you work part-time (4 hours a day) and earn an hourly pay of $35, your gross annual income is $36,400. Deductions in California amount to $6,732, while it will be $5,448 in Texas. After taxes, your net annual income would be $29,668 in California and $30,952 in Texas. 

Now, you have an idea of how much money you have in your hands in a year. If you want to know how much money you can earn in a month, a week, or a day, continue reading below as we answer the questions in the subsequent sections.

How Much Is $35 an Hour per Month?

If you earn $35 an hour while working full-time, your gross monthly income will be $6,067. We calculated this by dividing your gross yearly pay of $72,800 by 12, the number of months per calendar year. 

If you work full-time, your net monthly salary will be $4,461 in California and $4,853 in Texas, with tax deductions of $1,606 and $1,214, respectively. 

If you are a part-timer working only 4 hours a day instead of 8 for a total of 20 hours a week, your gross income for the month will be roughly $3,034 ($6,067/2). In California, you will earn $2,473 as your net monthly pay after $561 in deductions. In Texas, the tax will be $454, leaving you with a net take-home pay of $2,580 for the month. 

How Much Is the $35 Hourly Rate per Week?

Man Counting Money MSN
Image Credit: Elnur_/Depositphotos.

We break down the calculations and determine how much a $35 per hour income makes in a week. 

If you work 8 hours a day as a full-timer, an hourly rate of $35 will provide you $1,400, assuming you work 5 days a week and 40 hours in total. This amount was computed based on your annual gross income divided by 52 weeks ($72,800/52).

However, the total weekly amount would be different if you put in more or fewer hours at work. For instance, if you work part-time and work for only 4 hours daily for a total of 20 hours weekly, your gross weekly income will be $700 at a $35 hourly rate. Your after-tax income would be $571 in California after $129 in deductions and $595 in Texas after $105 in taxes.

If you work full-time at 40 hours per workweek, earning a gross weekly pay of $1,400, your net income for the week will be $1,030 in California and $1,120 in Texas; these figures are after deductions of $370 and $280, respectively. 

How Much Is $35 per Hour Biweekly?

Let’s consider how much your biweekly earnings will be if you make $35 per hour. 

If you work full-time, your biweekly income before taxes would be $2,800 at a $35 hourly rate. We determine the value by multiplying your total weekly salary of $1,400 by 2 weeks, getting the amount of $2,800 as your gross pay for 2 weeks. The after-tax income would be $2,059 in California and $2,240 in Texas, with corresponding deductions of $741 and $560. 

Similarly, if you are a part-timer, your biweekly gross income would be $1,400, assuming you work 4 hours a day instead of 8 at $35 an hour. In this case, your net take-home pay will be $1,141 in California and $1,190 in Texas after $259 and $210 in deductions, respectively.

How Much Is $35 an Hour per Day?

Lastly, we determine your daily earnings at a rate of $35 an hour. 

If you work full-time, your gross daily income would be $280 at a $35 hourly rate ($35 * 8 hours/day). You will get a deduction of $74 in California and $56 in Texas, leaving you with a net daily take-home pay of $206 and $224, respectively. 

The daily income value would differ according to the number of hours worked. If you work 4 hours a day instead of 8 as a part-time employee, you will make $140 a day at a pay rate of $35 an hour. Your net hourly after-tax income would be $114 in California and $119 in Texas after corresponding deductions of $26 and $21.

Summary – $35 an Hour Is How Much a Year?

Here is a summary of how much you make if you work full-time:

$ 35 per hour – Full-TimeTotal Income (before taxes)
Yearly salary (52 weeks)$72,800
Monthly salary$6,067 
Weekly income (40 Hours)$1,400
Bi-Weekly income (80 Hours)$2,800
Daily income (8 Hours)$280
Net Estimated Monthly Income (after taxes)$4,461 to $4,853

Tips To Live on $35 an Hour

As soon as you have an exact idea of your potential earnings for a year and a month, you can develop a budget based on these income figures and allocate your earnings to your monthly expenditures, including rent, utility bills, fuel, grocery, etc. 

$35 an hour is a pretty decent hourly wage, depending on the number of hours you work. However, regardless of how much you earn, you have worked hard for this money, and it is essential to spend it wisely and avoid making choices that cause regret in the future. 

Unless you live in a high-tax or high-cost area with a $35 an hour salary, you will have some income remaining. You can put this money into savings, investments, or recreation activities. 

Here are a few tips to help you.

Keep Track of Your Inflows and Outflows

When it comes to taking charge of your finance, it’s important to keep track of how much money is coming in and how much is going out. You have already taken the first step by assessing how much money you will be earning if you are paid $35 an hour.

The next step is to assess how much money you need to spend on the essential requirements and how much is there to spare. Once you have taken care of the necessities, you can decide what to do with the rest of the money. You can save it for the future, for an investment or put it in an emergency fund, or even plan a vacation.

Curtail Your Expenditure

If you want to avoid being financially unstable, constantly broke, or trapped in a debt cycle, spend less than you make! There is no way around it, even if it means compromising on a few things. Take account of your outflows and assess where you can do with fewer expenses or which expenditures you can forgo. 

It may be tough initially, but considering most people earn less than you and manage within their resources, it is not an impossible feat. A salary of $35 an hour can help you live a comfortable lifestyle, and you may not be compromising on essential expenditures even, provided you do not throw around money recklessly.

Find Other Ways to Earn Money

If you still feel that $35 an hour is not enough to reach your financial goals and you want to increase your income and improve your circumstances, you can find additional means of earning money. Consider doing another job with evening or night shifts if you work part-time. You can also do online jobs like freelance writing.

You can also start a side hustle as an additional income source. If you have any hobbies, think of ways in which you can turn them into lucrative ventures. You can also consider investing in stocks or bonds to have a passive income source.

  • Take part in online surveys. You just need to answer questionnaires or join focus groups sponsored by companies doing product research, and you will get paid. Check out some of the best online survey sites to earn cash and gift cards. The following sites even offer sign-up cash bonuses:
  • Sell your skills as a part-time freelancer on online job platforms like Fiverr, FlexJobs, and Upwork. Start listing your profile at these job sites that offer flexible working arrangements if you have marketable skills like software development, marketing, proofreading, graphic design, etc.
  • Be an online tutor. Elementary, middle- to high school, and even college students need tutoring help in English and other in-demand subjects like Math and Science. Translate your teaching skills into cash now!
  • Flip items for profit. If you are good at finding valuable goods and reselling them at a profit, there are many online stores like Craigslist, Letgo, eBay, and Amazon where you can earn cash by buying and selling. You can also buy secondhand items or sell your own preloved or unused goods in online flea markets.
  • Play online games. If you are a gamer, try Mistplay, where you play online games and earn points that you can trade into gift cards or cash. This is your chance to enjoy your hobby and earn money simultaneously!
  • Get a data entry job. You can earn cash while working from your home. Basic requirements include typing skills, attention to detail, and computer and Internet connection.
  • Work as a virtual assistant. Working from home with flexible hours, you can do your tasks as virtual support for the company’s full-time staff. The work could range from routine office stuff like answering emails to managing your employer’s schedule.
  • Be an online transcriptionist. If you are good at grammar, pay keen attention to details, and have a good headset and reliable internet, you can work as a transcriptionist. Here’s a transcription guide to getting you started.

Do Not Associate Happiness With Money

While money is an important part of our lives, money is not everything. Contentment and happiness should not always be associated with money, and you do not need pockets full of money to enjoy your life or be happy. 

Sometimes it’s the smallest things that bring the biggest joy. 

While you may have people in your social circle having ideal financial circumstances, it is not wise to compare your life with them. You can be inspired to make more effort but do not follow their lead to living a similar lifestyle. You may have to assume debts in the process or spend more than planned, which is never a good idea.

Start Investing

Alternatively, you can invest in stocks or bonds to grow your income. Start investing in ETFs, where you can invest in the entire market by buying exchange-traded funds. 

Check out these articles to start investing:

What Jobs Pay 35 Dollars an Hour?

If you want a salary that pays around $70k a year, you need to have the requisite skills or experience required for the occupation that you want. Ask yourself if your educational and experience profile matches the job description before applying. You may also need to polish up your CV to convince the potential employer that you are the right fit for the job. 

If you’re wondering which jobs pay $35 an hour, here are a few suggestions:

  • Registered nurse
  • Budget analyst
  • Fashion designer
  • Makeup artist
  • Genetic counselor
  • Freelance writers
  • Marketing specialists
  • Chiropractors
  • Personal trainers
  • Medical sonographer
  • Real Estate Investment Trusts employees

Is $35 an Hour Good?

Assuming you work full-time, i.e., 8 hours a day, 5 days a week, you can earn around $72,000 a year. This salary figure implies that you are most likely earning more than 77% of the entire working population in the US. On the other hand, your salary will be less if you work for fewer hours. 

At the same time, if you work for more hours per day, you can earn even more than $72K per year. For instance, if you work 10 hours per day, you can earn $90K per year, which is a significantly higher amount of income. 

Therefore, whether $35 an hour is a good wage depends on the number of hours you work. 

Can You Live on $35 an Hour?

If you earn $35 an hour, you can live a decent life, provided you work for a sufficient number of hours and spend with care. If you manage your expenses through a planned budget, you can live comfortably in a good home, have a car and cover your day-to-day expenses. You can even save for your emergency fund or long-term financial goals.

If you live in an area where living costs are expensive, you may need more money to cover your basic expenses, including rent, bills, or groceries. You may need a significantly higher income to have a decent living in high-cost areas. Consider moving to an area where the cost of living is less expensive or where taxes are low. If that is not an option, you may find ways to increase your income and improve your circumstances.

Conclusion – $35 an Hour Is How Much a Year?

At $35 an hour, making $72,800 a year is way above the prevailing minimum wage rate in the US, as mandated in the Fair Labor Standards Act (FLSA). It is enough to enable you to have a comfortable living unless you have major debts or a high-maintenance lifestyle.

Do you want to know how much yearly take-home pay others get at different pay rates? Take a look at these related articles:

Regardless of your hourly rate or yearly income, this article shows that having a grasp of your regular money inflow and outflow would help you have a more effective financial plan. That includes budgeting, saving, and investing your income towards your well-being and financial empowerment.