"Time is money," as the old saying goes. When you're earning $33 an hour, you may be wondering if it's really worth your time.
Although it's an hourly rate that's well above the US national average and median salary, what is $33 an hour a year? More importantly, is it enough to live on?
Scroll down to find out what it works out at weekly, monthly, or annually for part-roles and full-time roles, and make an informed decision about your work life.
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$33 an hour is how much a year?
To calculate yearly income, you must consider how many hours you worked per week and the number of weeks you worked in a year.
As work hours and weeks vary for part-time and full-time employees, let's look at both. Note that these calculations are before tax.
- Part-time work. If you consistently works 20 hours per week, your estimated annual income before tax deductions would amount to $34,320. This is calculated by multiplying the hourly rate ($33) by the weekly hours (20) and then multiplying the result by the number of weeks in a year (52).
- Full-time work. On the other hand, for full-time work, which typically involves 40 hours per week for 52 weeks, the yearly income at the same hourly rate would be $68,640. This is derived by multiplying the hourly rate ($33) by the weekly hours (40) and then multiplying the result by the number of weeks in a year (52).
Negotiating a dollar an hour increase from $32 an hour will make a substantial difference over a year, just as a raise to $34 an hour from $33 would do.
How much is $33 an hour per day?
When you have a flexible work schedule, it's essential to know how much you earn each day. This helps you plan your finances better.
- Part-time work. Assuming an average of 4 hours worked per day at $33 per hour, your approximate daily income would amount to $132. Similarly, if you work an average of 6 hours per day, your daily earnings would be around $198.
- Full-time work. For full-time work, with a standard workday of 8 hours, the daily earnings can be determined by multiplying the hourly wage by the number of hours worked. Thus, at an hourly rate of $33, the daily salary would be $264.
It is important to note that these calculations are based on the given hourly rate and assume a consistent work schedule throughout the working days.
How much is $33 an hour per week?
Now, let's look at how much you could earn in a week, considering both part-time and full-time work options. Understanding your weekly earnings gives you a clearer picture of your overall income and allows you to make smart decisions about your work hours and financial goals.
- Part-time work. For part-time work, assuming an average of 20 hours worked per week at $33 per hour, your weekly earnings would amount to approximately $660.
- Full-time work. With a commitment of approximately 40 hours per week at the same hourly rate of $33, your weekly salary would total approximately $1,320.
How much is $33 an hour bi-weekly?
Here's what a bi-weekly pay run would work out to on part-time and full-time hours.
- Part-time work. If you accumulate approximately 40 hours in a bi-weekly pay period at $33 per hour, your earnings for that two-week period would amount to approximately $1,320.
- Full-time work. Working around 80 hours in a bi-weekly pay period at the same hourly rate would yield earnings of approximately $2,640 for the given two-week period.
How much is $33 an hour per month?
To calculate the monthly earnings at an hourly rate of $33, we consider both standard part-time and full-time work schedules.
- Part-time work. If you work around 80 hours in total during a month, your overall monthly income would amount to approximately $2,640.
- Full-time work. Assuming a total of 160 hours in a month at a rate of $33 per hour, your monthly earnings would sum up to around $5,280.
How much is $33 an hour quarterly?
A quarter consists of 13 weeks or 3 months. Here's how much you'd take home on $33 hourly out over that period.
- Part-time work. Assuming you work at around 240 hours within a quarter at an hourly rate of $33, your total earnings for the quarter would amount to $7,920.
- Full-time work. If you work around 480 hours within a quarter at the same hourly rate, your total earnings for the quarter would sum up to $15,840.
Is $33 an hour enough to live on?
Location, family situation, existing financial obligations, and various other factors mean $33 an hour could be more than enough for some people to live on comfortably, while being disastrous for the person next door.
Here's how this wage can affect different groups of people.
Young college graduate
As a recent college graduate entering the workforce, $33 an hour is a substantial wage, significantly higher than the average entry-level salary. Although most grads leave with a hefty student loan to repay, their living expenses are typically lower since they generally don't have dependents to take care of.
Middle-aged career changer
For an individual in their 40s or 50s changing careers, their financial responsibilities may include mortgage payments, supporting a family, and saving for retirement. Though the $33 hourly wage is above the national average, this person should evaluate their expenses to decide if it's enough.
Individual living in a rural area
As living expenses in rural areas are generally lower compared to urban locations, $33 an hour might provide a comfortable living for someone living in a less populated region. However, add on the cost of running a family and things get tight pretty quickly.
Remote worker
For remote employees with no location requirements, $33 an hour could be a solid wage depending on their cost of living. There is substantial potential for arbitrage on $33 an hour while living in a cheap country such as Thailand, Vietnam, Phillippines, Colombia, etc. With responsible spending, a remote worker on $33 an hour could have a substantial monthly surplus.
Single parent
While this income might be enough for individuals without children, single parents may find it challenging to meet all their financial responsibilities on this salary. Is it enough to cover the cost of childcare, health insurance, and other essential expenses? The answer may just come down to where you live.
$33 an hour vs the national average
According to the Bureau of Labor Statistics, the national average wage in the USA is $33 an hour, putting you on par with the average worker. However, it's crucial to remember that averages don't always paint a complete picture. Some workers earn significantly more, and others earn much less. Your earnings also depend on variables such as your credentials, job location, and industry.
$33 an hour vs the national median
Compared to the national median hourly pay in the USA, which is $22.26 per hour, $33 an hour is a decent income. The median wage provides a more accurate depiction of what most Americans earn. This comparison suggests that earning $33 an hour places you in a better financial position than over 50% of American workers.
Who is $33 an hour a good salary for?
Assessing whether an hourly salary of $33 qualifies as "good" depends on the individual's financial circumstances.
For someone just entering the workforce, this income might be considered satisfactory. However, for individuals with more significant financial responsibilities, it might not sufficiently meet their needs.
$33 an hour is a good salary for:
- Those with lower living expenses, such as young adults, recent college graduates, or relatives relocating to a more affordable area
- Individuals who work remotely and can adapt their living situation to match their budget
- People living in rural regions or locations with a lower cost of living
$33 an hour is a bad salary for:
- Single parents or families with multiple children, given the increased expenses associated with raising a family
- Individuals living in high-cost cities where the average cost of living might be on par with their $33 hourly wage
- Those with substantial debt or financial obligations, such as high student loans or medical expenses
