$38 An Hour Is How Much A Year? Analysis for 2024

Embarking on a new job opportunity or receiving a raise may lead you to ask, “$38 an hour is how much a year?” 

Understanding your annual earnings provides essential information for budgeting and financial planning.

$38 an Hour Is How Much a Year?

Let’s determine your yearly earnings if you make $38 an hour. If you’re employed full-time, typically working 8 hours per day, 5 days a week, here’s what the calculation looks like:

A year generally comprises 52 weeks. Therefore, if you work 40 hours weekly, 40 x 52 weeks = 2,080 hours per year. So, if your hourly wage is $38 and you work 40 hours a week, your annual earnings amount to $79,040.

If you work part-time—4 hours a day and 5 days a week—you would work 20 hours a week. Your annual working hours would be 1,040 (20 x 52), totaling $39,520.

Remember that this calculation doesn’t include vacation or overtime hours. Your earnings can vary if you work fewer hours (as in a part-time job) or more (overtime).

How Much Is $38 an Hour Annually After Taxes?

The amount you take home will depend on various factors, including your tax bracket, filing status, and state taxes. Don’t forget your gross income will also be subject to federal taxes, Medicare, and Social Security deductions.

Tax rates can vary significantly from one state to another. Consider using an online tax calculator to accurately estimate your post-tax income. For example, if you are working in Texas with no state income tax, 21% is deducted for taxes, leaving you with $62,837 annually.

How Much Is $38 an Hour per Month?

To estimate your monthly income, let’s begin with your hourly wage of $38. Working full-time (8 hours a day for 5 days a week) is 40 hours weekly. Therefore, your annual gross income of $79,040, divided by 12, delivers a gross monthly income of $6,587.

Do remember that this is a pre-tax figure. Your actual monthly payout will depend on your tax bracket and applicable deductions.

How Much Is $38 an Hour per Week?

To calculate weekly earnings for an hourly wage of $38, divide your annual pre-tax income of $79,040 by 52, the number of weeks in a year. This results in a gross income of $1,520 per week

Remember that this figure can vary according to your weekly work hours.

How Much Is $38 per Hour Biweekly?

If you’re interested in your earnings on a biweekly basis, just multiply your weekly income by 2. At $38 an hour, your gross earnings would be approximately $3,040 every two weeks

How Much Is $38 an Hour per Day?

Finally, let’s break down your earnings on a daily level. If you work full-time, an 8-hour workday will bring in $38 * 8 hours/day = $304 before taxes. Remember, actual earnings will fluctuate depending on the number of hours worked and individual tax obligations.

Summary – $38 an Hour Is How Much a Year?

Here’s a breakdown of your estimated earnings at a $38 hourly wage:

Pay FrequencyGross Pay Before TaxesEstimated Net Pay after Taxes*
Yearly (52 weeks)$79,040$58,000 to $61,000
Monthly$6,587$4,700 to $5,000
Weekly (40 hours)$1,520$1,100 to $1,150
Bi-Weekly (80 hours)$3,040$2,200 to $2,300
Daily (8 hours)$304$220 to $235

*These estimated net pay figures serve as rough guides and could vary based on your specific tax situation. 

Happy Young Woman Using A Calculator And Holding Money
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Tips for Living Comfortably for $38 an Hour

Making $38 an hour can comfortably support a moderate lifestyle in many parts of the United States. However, financial comfort isn’t just about earning a good wage—it’s also about managing your money wisely. Here are some tips to help you do just that.

Develop a Realistic Budget

The first move to managing your finances is understanding how much money is coming in and going out. Create a budget that includes all your expenses—housing, utilities, transportation, food, entertainment, and any debts you must pay off. Don’t forget to make room for savings and investments in your budget.

Prioritize Saving and Investing

Make it a habit to set aside a certain proportion of every salary you earn. One widely used budgeting technique is the 50/30/20 rule. This guideline recommends dividing 50% of your earnings for needs, 30% for your wants, and 20% for savings or debt repayment. Establishing auto-transfers to your savings account can streamline this procedure.

Think about consulting with a financial advisor to understand your investment opportunities further. If your employer provides a matching 401(k) contribution, you can benefit from additional retirement funds by making your contributions.

Start a Side Hustle

Here are some ways to make extra money when making $38 an hour:

  • Complete online surveys for cash or gift cards on the following platforms:
    • Swagbucks. This rewards program lets you earn points by browsing the web, shopping online, and taking surveys. Signing up with Swagbucks is completely free. Your points are then converted into free gift cards or cash-backs. Read our full Swagbucks review here or sign up directly using our link for your free $5 signup bonus.
    • Rakuten. Want to get a cashback while you shop at over 3,500 stores? Check out Rakuten to save some shopping money. Read our full Rakuten review here or use our link for your free $10 welcome bonus.
    • InboxDollars. Sign up, do the online tasks, and earn extra cash with InboxDollars. Take the surveys, redeem coupons, play games online, watch videos, and search the web. Making money can’t get any easier than that! Read our full InboxDollars review here or use our link for your free $5 bonus.
    • Survey Junkie. You can earn extra cash through this website by completing online surveys or sharing your data. You will be paid with gift cards or cash through Paypal. Read our full Survey Junkie review and Survey Junkie hacks to get paid up to $60 per survey.
  • Become an Instagram influencer. You can make money on Instagram by creating posts for brands, endorsing different products, or selling your merchandise.
  • Start blogging. Check this guide on how to start a blog and head on to this reliable web host, BlueHost, that provides various feature-packed web hosting options to help you build your website without sweat.
  • Sell your skills as a freelancer. Online job platforms like Fiverr, FlexJobs, and Upwork bring employers and freelance workers together. So, if you have marketable skills like software development, marketing, proofreading, graphic design, etc., you should try creating a smashing resume and listing your profile on these job sites. You can work at home as a virtual assistant part-time or even full-time.
  • Get a data entry job. You can earn cash in the comfort of your home. Basic requirements include typing skills, attention to detail, and computer and Internet connection. Here are some legitimate data entry jobs to try.
  • Be an online tutor. You can teach English on platforms such as Flexjobs and Magic Ears. There are many online teaching opportunities where you can share your knowledge while you earn cash. For more information, check out our list of the best online tutoring jobs to try now. 
  • Sell stuff online. If you have unused or preloved items and want to declutter your home and earn cash, check out these best sites to sell your stuff.
Woman Smiling While Typing On Her Laptop MSN
Image credit: lcrespi/DepositPhotos.

Frequently Asked Questions (FAQs) – $38 an Hour Is How Much a Year?

What Jobs Pay $38 an Hour?

An hourly rate of $38 can be found in various industries, although actual pay rates depend on experience, location, and demand. Here are some jobs that might offer around this rate:

  • Construction manager
  • Software developer
  • Massage therapist
  • Loan specialist
  • Compliance investigator

These jobs offer a competitive wage, leading to even higher earning potential with experience and career advancement.

Is $38 an Hour a Good Wage?

Earning $38 an hour translates to an annual income of approximately $79,040, based on a standard full-time schedule. This amount is notably higher than the average U.S. salary of $7.25 an hour for nonexempt employees. Therefore, $38 an hour is above the average, providing a comfortable lifestyle in many parts of the country.

However, “good” is subjective and depends on living costs, lifestyle, and personal financial goals. In high-cost-of-living areas, your money might stay within reach. Therefore, it’s crucial to plan your expenses and savings accordingly.

Can You Live on $38 an Hour?

Earning $38 an hour depends on how much you spend, your personal situation, and what you want to achieve with your money. For some people, like young professionals, people who work from home, or those in places where living is not very expensive, it can be a good amount. But for others, like single parents with lots of people depending on them or people in areas where living is costly, $38 an hour might not be sufficient.

Conclusion – $38 an Hour Is How Much a Year?

Understanding your hourly wage in an annual context situates you better for planning and budgeting. An hourly wage of $38 can amount to a yearly income of around $79,040, providing significant planning scope for saving and spending. It’s a proactive step towards financial security and prosperity.

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