$15 an hour is how much a year? The answer is $31,200 a year before taxes, assuming a standard 40-hour workweek paid for all 52 weeks of the year. That single number hides a lot of useful detail, though, so here's the full breakdown, plus how $15/hr actually compares to minimum wage law in 2026.
$15 an Hour Is How Much a Year?
$15/hr × 40 hours/week × 52 weeks/year = $31,200 a year before taxes. That figure assumes full-time hours every single week with no unpaid time off. Take two weeks of unpaid leave and the real annual total drops to about $30,000.
$15 an Hour: Weekly, Monthly, and Annual Pay
- Daily (8 hrs): $120
- Weekly (40 hrs): $600
- Bi-weekly (80 hrs): $1,200
- Monthly (average): $2,600
- Annual: $31,200
The monthly figure divides the annual total by 12, rather than multiplying the weekly number by 4, since most months run slightly longer than exactly four weeks.
$15 an Hour After Taxes: What You'd Actually Take Home
The $31,200 figure is gross pay, before any taxes. Actual take-home pay is lower once federal income tax, Social Security, Medicare, and any applicable state income tax are withheld. As a very rough planning estimate, many single filers with no dependents see total withholding in the range of 15% to 25% of gross pay, which would put take-home pay somewhere around $23,000 to $26,500 a year. Your actual number depends heavily on your state, filing status, and any pre-tax deductions, so treat this as a starting estimate rather than a precise figure.
The IRS and the Social Security Administration jointly withhold 7.65% of gross wages for Social Security and Medicare taxes (FICA) from nearly every paycheck, regardless of income level or state.
Is $15 an Hour Above Minimum Wage in 2026?
It depends entirely on the state. $15/hr is more than double the $7.25/hr federal minimum wage, but a growing number of states have already set their own minimum wage at or above $15/hr, including Massachusetts, Illinois, Delaware, Maryland, Missouri, and Nebraska. In those states, $15/hr may sit right at, or even below, the legal minimum for some roles. Check your state's current minimum wage to see exactly where $15/hr falls where you live.
$15 an Hour for Part-Time Hours
Not everyone works a full 40-hour week. At 30 hours/week, $15/hr works out to $450/week, or $23,400/year. At 20 hours/week, it's $300/week, or $15,600/year. Use these as quick benchmarks if your actual schedule runs below full-time.
$15 an Hour vs. Other Common Hourly Rates
$15/hr sits at the low end of a common range of hourly benchmarks people search for when comparing job offers or budgeting.
- $15/hr: $31,200/year
- $17/hr: $35,360/year, about $4,160 more per year
- $20/hr: $41,600/year, about $10,400 more per year
- $25/hr: $52,000/year, about $20,800 more per year
Each $1/hr difference adds up to $2,080/year at full-time hours, a useful rule of thumb when comparing job offers with different hourly rates.
What Kind of Jobs Typically Pay $15 an Hour?
$15/hr is a common entry-level rate at large retailers and fast food chains that have raised their company-wide starting wage above the federal minimum, including several chains covered in our corporate wage guides. It's also the exact rate several states have set as their own legal minimum wage.
The Quick Formula for Any Hourly-to-Annual Conversion
Multiply the hourly rate by 2,080, the number of work hours in a standard 40-hour, 52-week year (40 × 52 = 2,080). For $15/hr: 15 × 2,080 = $31,200, matching the figure above exactly. This shortcut works for any hourly rate at full-time hours; scale 2,080 down proportionally for part-time schedules.
Frequently Asked Questions
Is $15 an hour good pay in 2026?
It depends on your state and cost of living. $15/hr is well above the federal minimum wage and above the minimum wage in many states, but it's at or below the legal minimum in some high-cost states, and well below a calculated living wage in most major metro areas.
How much is $15 an hour biweekly?
At 40 hours/week, $15/hr comes to $1,200 every two weeks before taxes, the most common pay schedule for hourly employees.
Does overtime change the $15/hr annual total?
Yes. Non-exempt employees must be paid 1.5 times their regular rate for hours worked beyond 40 in a week, so any overtime hours would push the annual total above $31,200. See our exempt vs. non-exempt guide for how overtime eligibility works.
Where can I check the exact minimum wage in my state?
See our full state-by-state minimum wage table, updated as states raise their rates.
For official federal wage and tax information, see the IRS's overview of payroll tax withholding. Use our own minimum wage calculator to run the numbers for any hourly rate and hours combination.