How Many Hours Do You Need to Work to Earn $50,000 a Year?
If $50,000 a year is your income goal, the question is how that translates into a real work schedule. The answer depends on your hourly rate, and whether you want to hit the number before or after taxes. Here's how the math works both ways. The basic formula Annual goal ÷ hourly rate ÷ 52 weeks = hours per week needed Here's what that looks like at common hourly rates, for a gross (pre-tax) $50,000: Hourly rate Hours per week Hours per year $15 ~64 ~3,333 $18 ~53 ~2,778 $20 48 2,500 $24.04 40 2,080 $25 38.5 2,000 $30 32 1,667 $40 24 1,250 At $24.04 an hour, a standard 40-hour week gets you to $50,000 gross. Below that rate, you'd need overtime or extra work to reach the goal. Above it, you can hit $50,000 working fewer than 40 hours. What if $50,000 is your take-home target? Most people mean gross when they say $50,000, but if you want to actually take home $50,000 after taxes, you need to earn more up front. In a no-state-tax scenario for a single filer, you...