$31 an Hour Is How Much per Year?
Are you curious how much someone earning $31 an hour really earns in a year? Add the number of hours worked per week below to find out!
Equivalent $31/hr Salary:
Annual Salary: | $64,480.00
|
Monthly Pay: | $5,373.33
|
Biweekly Pay: | $2,480.00
|
Weekly Pay: | $1,240.00
|
Daily Pay: | $248.00
|
How Does This Compare?
How To Convert $31 an Hour to an Annual Salary
To calculate your annual salary based on a $31 hourly wage, you need to know the number of hours worked per week (usually 40 for full-time employees) and the number of weeks worked per year (typically 52).
Then, you can use the hourly to salary formula to calculate the equivalent annual salary:
Hourly to Salary Formula
The formula to calculate the annual pay given an hourly wage is:
annual salary = hourly wage × hours per week × 52
Using the formula, we get:
$31/hr × 40 hrs × 52 wks = $64,480
Therefore, if you work 40 hours per week full-time with no overtime at $31 per hour, your equivalent salary is $64,480 per year. If you're not full-time, you can use our hours calculator to find how many hours you work for this calculation.
Yearly Pay for $31 an Hour With Overtime
If you work overtime, then you'll likely earn a time-and-a-half rate, so you'd earn $46.50 per hour of overtime in addition to $31 per hour for non-overtime hours. The following table shows the equivalent yearly salary of $31 per hour with various amounts of overtime.
Hours per Week | Income per Year | Income per Month | Income per Week |
---|---|---|---|
40 Hours | $64,480 | $5,373 | $1,240 |
45 Hours | $76,570 | $6,381 | $1,473 |
50 Hours | $88,660 | $7,388 | $1,705 |
55 Hours | $100,750 | $8,396 | $1,938 |
60 Hours | $112,840 | $9,403 | $2,170 |
Learn more about how to calculate overtime pay.
How Does $31 per Hour Compare to Other Pay Rates?
Assuming you work 40 hours per week, how does $31 an hour stack up:
- $29 an hour = $60,320 a year
- $30 an hour = $62,400 a year
- $31 an hour = $64,480 a year
- $32 an hour = $66,560 a year
- $33 an hour = $68,640 a year
You can also use our pay raise calculator to see how much you would make after an increase in your hourly rate.
References
- Engel, K. and Posey, K., Household Income in States and Metropolitan Areas: 2023, U.S. Census Bureau, https://www2.census.gov/library/publications/2024/demo/acsbr-023.pdf
- U.S. Bureau of Labor Statistics, Table B-3. Average hourly and weekly earnings of all employees on private nonfarm payrolls by industry sector, seasonally adjusted, https://www.bls.gov/news.release/empsit.t19.htm
- U.S. Bureau of Labor Statistics, Total private average hourly earnings and weekly hours and earnings by state, https://www.bls.gov/charts/state-employment-and-unemployment/average-hourly-earnings-and-weekly-hours-and-earnings-by-state.htm