So you’re earning 17 dollars an hour and would like to know how this hourly wage translates to daily, weekly, monthly, and yearly salary. Importantly, you want to find out if $17 an hour is enough to sustain your expenses.
When you receive a job offer, the employer or hiring manager would likely say you’d make x dollars per hour. Let’s just say you were offered 17 dollars an hour. That doesn’t tell you if this living wage is enough, as we don’t budget our income on an hourly basis, right?
The best way to figure out if this hourly wage is to convert it into various pay periods. You need to know 17 an hour is how much a year? What is your income per day? How much weekly income do you earn? What about your monthly income?
Besides these conversions, you also need to know your hourly wage depending on how many hours you work per day, week, month, and year. Finally, you want to know how much 17 dollars an hour is after taking out your income taxes. When you’ve figured all these out, you will see if this hourly wage would be enough for your lifestyle or if you need to do something to improve your financial situation.
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What is the Yearly Salary for Earning $17 an Hour?
Now let’s first find out your yearly salary if your hourly wage is 17 an hour.
First, we determine how many hours you work per year. Let’s say you have a full-time job where you render 40 hours a week. You don’t get paid vacation time, so you work a total of 52 weeks a year. Therefore:
52 weeks x 40 hours a week = 2,080 hours a year
To find your annual salary, we multiply this by 17 dollars, so:
2,080 hours x 17 dollars an hour = $35,360
Your annual salary, if you work full time, earning an hourly wage of 17 an hour, is $35,360 before taxes.
But what if you get two weeks of paid vacation time? How much would your annual salary be?
50 weeks x 40 hours a week = 2,000 hours per year
2,000 hours x 17 an hour = $34,000 yearly income
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What About Taxes?
Our computation above reflects only your potential annual income before taxes. Now let’s try to factor income taxes into your annual income. Using the Smart Asset tax calculator, we’ve found out that a single tax filer earning $34,000 a year is taxed 18% of his annual salary. So, one’s net take-home pay is $27,875.
This figure could change depending on your filing status, tax deductions, and location.
$17 an Hour is How Much Monthly?
Most people follow a monthly budget, so it’s important to figure out your monthly income if you earn 17 an hour.
The easiest way to determine your monthly wages is to divide your annual salary by 12 months. For instance, you earn a $35,360 annual salary if you work all 52 weeks of the year full-time. So:
$35,360 / 12 months = $2,946 monthly
Alternatively, we can calculate your monthly wages by determining how many hours you work in a month. If you have a typical full-time job, you render approximately 160 hours a month. So, with 17 dollars hourly pay, we determine your monthly income like this:
160 hours x 17 dollars hourly rate = $2,720 per month before taxes
Keep in mind that some months have more weeks than others, and you may also get paid overtime pay, so this is just a rough approximation of your monthly income.
What is Your Weekly Income of $17 Dollars an Hour?
First, we figure out how many hours a week you devote to work. Let’s say you work 40 hours a week as a full-time employee; we simply multiply this by 17 dollars an hour:
40 hours a week x 17 an hour = you earn 680 per week
What if you work part-time? Again, we take the number of hours per week and multiply by 17 dollars an hour. For example, if you work 20 hours per week, calculate your weekly wage like this:
20 hours a week x 17 an hour = $340 per week
What is $17 an Hour Biweekly?
The fastest way to determine your biweekly income is to take your weekly income and multiply it by 2. So if you work full time, earning $680 per week, then your biweekly income is $1,360.
If you work part-time, earning $340 per week, your biweekly income is $680 per week.
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$17 an Hour is How Much Per Day?
Your daily wage for 17 an hour depends on how many hours you work. If you work full-time at 8 hours per day, then we find your daily rate by multiplying it by 17 an hour. Therefore,
8 hours worked per day x 17 per hour = $136 per day
Let’s say you only work part-time at 4 hours per day:
4 hours per day x 17 hourly wage = $68 per day
Is 17 an Hour Good Money?
Now you know 17 an hour is how much a year, monthly, week, and day, as well as how much your potential take-home pay after taxes. But you still wonder: is 17 an hour good pay?
Let’s try to put things into perspective. According to the US Department of Labor, the average minimum hourly wage in the country is $7.25 per hour. If you look at it, you earn 10 dollars more than the minimum wage earner.
Now let’s compare it to the average hourly wage of $32 an hour in the US. If you make 17 an hour, it means you need to work twice as much to earn the average hourly wage in the country. That puts you in between a minimum wage and an average wage earner.
But 17 dollars hourly rate may or may not be good pay, depending on your circumstances. If you live in states with low costs of living, such as Tennessee, West Virginia, and Mississippi, you might find 17 hourly pay is good money. This is even true if you are single and wise with money.
Now let’s consider 17 an hour while living in some of the most expensive states like California, New York, and Hawaii. Your 17 dollars hourly wage wouldn’t take you far since housing alone in these areas is very expensive. You’d probably have to rent a very tiny bedroom, be super frugal with food and other expenses, and still, find 17 dollars hourly rate super lacking. So even if you reduce your budget down to the bare bones, your 17 dollars an hour wage would still not cut it.
17 Dollars an Hour Budget
Here’s an example budget to help you better visualize how far the 17 dollar hourly rate would get you. Let’s take your net monthly income of around $2,320.
- Housing (25%) $580
- Food and Grocery (15%) $348
- Transportation (10%) $232
- Utilities (10%) $232
- Insurances (10%) $232
- Savings (10%) $232
- Debt (10% $232
- Entertainment (5%) $116
- Personal spending/giving (5%) $116
As you can see, a $17 an hour income allows you to cover all your basic expenses, but there’s not much wiggle room for luxuries. Strive to save for an emergency fund and create separate savings for long-term goals and big-ticket purchases. Also, you need to find more ways to make more money or increase your income if you have people depending on you financially.
What To Do if the 17 Dollars Hourly Rate is Not Enough?
If you earn $17 per hour, chances are, you want to make more money, especially if you have a family to provide for. Your take-home pay may not be enough to cover all the costs, especially now in the age of rapid inflation.
Here are some tips if you want to earn more money:
- Work more hours. If you currently work fewer hours, talk to the management if there’s a possibility of taking more hours to increase your salary.
- Ask for a raise. Talk to your employer and ask if a raise is possible for you in the near future. Highlight your contributions and loyalty to the company, which may help improve your odds of getting a salary increase.
- Take side hustles. If working more hours per week or getting a raise are not possible, you could still make more money outside your day job. You could look for part-time jobs such as delivery driver, pet-sitter, tutor, virtual assistant, or freelance writer. These jobs are flexible, so you easily inject them into your day and make money working a few more hours per week.
- Put up your own business. You could get into online businesses that create a new stream of income. Look into buying and selling things, dropshipping, print-on-demand, selling printables, and more.
- Look for a new job. Consider getting certified in your skill or taking courses to strengthen your credentials. You could then look for a new job that pays more money.
- Move to an area with a lower cost of living.
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Conclusion
What is $17 an hour annual salary?
Well, it is around $34,000 to $36,000 per year before taxes, depending on the number of hours you worked per year.
$17 an hour may be enough, but it can be lacking for others. It really depends on how wisely you manage your money and your personal circumstances. Making 17 an hour is not enough if you live in a big, expensive city. But it would probably suffice for a single person who lives in cheaper areas, and only needs to support himself.
Fortunately, there are now so many ways to increase your income if you need to supplement your day job income. Look for ways to make money online, study them, and find something you’re passionate about, and you could start making more money.
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