If you earn $20 an hour, you may be wondering how much that actually equals per year, per month, or per paycheck after taxes. This guide breaks down yearly, monthly, weekly, and take-home pay so you can understand exactly what $20 an hour means for your real income.
Use the take-home pay calculator below to convert your hourly wage into yearly, monthly, and weekly income after taxes.
Full Time Salary (40 Hours Per Week)
$20 × 40 hours × 52 weeks = $41,600 per year (before taxes)
Monthly Pay
$41,600 ÷ 12 = about $3,466 per month before taxes
Weekly Pay
$20 × 40 = $800 per week before taxes
After Taxes
After federal taxes, Social Security, and Medicare, most workers take home roughly 75% – 82% depending on their state.
Estimated take home pay:
About $31,000 – $34,000 per year after taxes.
Use the calculator below to estimate your exact take-home pay based on your hours worked and hourly rate.
Is $20 an Hour a Good Salary?
Whether $20 an hour is a good wage depends on your location, living expenses, and whether you work full-time. At 40 hours per week, $20 an hour equals about $41,600 per year before taxes and roughly $31,000-$34,000 after taxes for most workers. In lower cost-of-living areas this can comfortably cover basic expenses, while in higher cost-of-living cities it may require budgeting or shared housing. Using the calculator on this page can help you estimate your real income based on your specific hours and tax situation.