It’s no secret that the more money you make, the better off you are likely to be. That’s why it’s so important for workers to earn a livable wage. In this article, we will explore “17 an hour is how much a year” and how that translates to yearly, monthly, biweekly, and hourly earnings. We will also take a look at some of the jobs that pay $17 an hour and what it costs to live in various parts of the United States. So, read on to find out if $17 an hour is good pay!
As of 2020, the federal minimum wage is seven dollars and twenty-five cents per hour. Seventeen dollars an hour is more than double that amount. In fact, it’s nearly triple the federal minimum wage. But how much does that translate to yearly, monthly, and biweekly earnings? And is $17 an hour good pay?
17 an Hour Is How Much a Year?
17 an hour is how much a year? To start with, let’s take a look at how much $17 an hour is annually. At forty hours per week, $17 an hour comes out to a little over $35,000 per year before taxes. That means that after taxes, a person earning $17 an hour would take home around $27,000 per year. For many people, that’s not a livable wage. In fact, $17 an hour is just above the poverty line for a family of four.
Monthly
Next, let’s look at how much $17 an hour is monthly. If we assume that a person works forty hours per week, then they would earn $680 per week or $2912 per month before taxes. After taxes, that number decreases to around $2300 per month. That’s still not a livable wage for most families, but it is closer than the yearly earnings.
Biweekly
Now let’s look at how much $17 an hour is biweekly. Again, assuming that a person works forty hours per week, they would earn $1,360.00 every two weeks. That’s still not enough for most families to live on, but it is getting closer.
Calculator
If you want to determine other annual rates on your own, dividing your hourly pay (in this case $17 per hour) by the total number of hours you work each week. You can apply this simple summation to ascertain how much money you’ll end up with. Practical, isn’t it?
[number of hours per week] x [weeks a year] x [hourly rate] = your yearly salary
So, 17 an hour is how much a year? As you can see, it is easy as ABC. If you make $17 in an hour, and you need to know your annual salary assuming you went to work 40 hours a week, here is how you multiply:
[40 hours] x [52 weeks] x [17 dollars]= $35,360/year.
What do you reckon? Easy or not?
Is 17 an Hour Good for Most Americans?
So, is $17 an hour good pay? It depends on who you ask. For many people, $17 an hour is not a livable wage. However, there are some people who argue that it is a decent wage if a person works hard and lives frugally. It really depends on your individual circumstances.
What can you do with an annual salary of 35,360 dollars in the USA? Depending on your lifestyle and spending habits, you could save anywhere from $10,000 to $20,000 a year. That’s quite a lot of money that could go towards a down payment on a house or car, or simply padding your savings account. Additionally, if you’re lucky enough to live in a state with no income tax, that money will go even further.
Jobs That Pay 17 Dollars an Hour
If you’re interested in jobs that pay $17 an hour, here are a few examples: housekeepers, virtual raters, data entry clerks, receptionists, packers, production workers, cashiers, retail salespeople, customer service representatives, and administrative assistants. Of course, there are many other jobs that pay $17 an hour or more. Which is appropriate for you?
Cost of Living
The cost of living varies widely across the United States. In New York State, for example, the minimum wage is $11.80 per hour and the cost of living is quite high. In Alabama, on the other hand, the base wage is only seven dollars and twenty-five cents per hour, but the cost of living is relatively low.
So, what does all this mean? It means that $17 an hour is not a livable wage for most people in the United States. If you want to make ends meet on $17 an hour, you will likely need to work hard and live frugally. However, if you’re willing to do that, it is possible to make a decent life for yourself on $17 an hour. So, 17 an hour is how much a year? You should know by now! Thanks for reading! We hope this article was helpful.
