If you're considering a new job that pays $37 an hour, you're probably wondering how much $37 an hour is a year and if earning $37 an hour is enough to live on.
Valuing time is never easy, especially when there are so many variables to take into consideration — age, location, career, existing financial obligations, etc.
To decide whether or not $37 an hour is good for you requires a nuanced analysis that aknowledges these factors.
Scroll down to find out how this hourly rate works out per year, month, week, and day to make informed choices when negotiating your salary.
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$37 an hour is how much a year?
A huge factor in understanding your hourly wage is knowing how it translates to an annual salary. Let's take a look at part-time and full-time scenarios.
Just a heads up, these calculations show your income before taxes and deductions, so they don't give you the final take-home pay. Keep in mind that taxes and other factors might affect the actual amount you receive.
- Part-time work. When working part-time, it is important to determine the number of hours you work per week to accurately calculate your yearly income. For instance, if you work 20 hours per week for 52 weeks a year at an hourly rate of $37, your annual income would be approximately $38,480 before taxes.
- Full-time work. Assuming you work full-time for a standard year of 2080 hours and earn an hourly wage of $37, your annual salary would amount to $76,960 prior to any tax deductions.
Never underestimate the impact of a dollar an hour raise. Whether it's going from $36 to $37, or from $37 to $38 an hour, that one extra dollar an hour can mean hundreds more — or less — in your pocket each year.
Having that uncomfortable conversation about a raise is totally worth it, and you'll be thanking yourself in the end.
How much is $37 an hour per day?
Time to crunch some numbers! When calculating how much you would make on $37 per hour, keep in mind that your daily earnings depend on how many hours you work each day. So let's dive in and find out!
- Part-time work. If you work 4 hours a day for a part-time job, you would make $148 per day.
- Full-time work. Working 8 hours a day at a full-time job would result in a daily income of $296.
How much is $37 an hour per week?
It's also worthwhile to compare the weekly earnings between part-time and full-time work since it can provide valuable insights into your income situation.
- Part-time work. Based on the earlier calculations, a part-time worker would make $740 per week by working for 4 hours a day.
- Full-time work. Meanwhile, a full-time worker would earn a whopping $1,480 every week by working 8 hours a day.
How much is $37 an hour bi-weekly?
Let's say you get paid every two weeks, which is common for many jobs. Here's what you can expect to see on your paycheck.
- Part-time work. If you work a total of 40 hours in a bi-weekly pay period at a rate of $37 per hour, your earnings would amount to approximately $1,480 over the span of two weeks.
- Full-time work. If you work a total of 80 hours in a bi-weekly pay period at an hourly rate of $37, your income for a two-week period would amount to approximately $2,960.
How much is $37 an hour per month?
Your monthly earnings play a big role in planning stuff like rent or mortgage, groceries, and everyday expenses. Just keep in mind, to get the right monthly figure, we need to consider the number of working days in that particular month. It's all about staying on top of your budget!
- Part-time work. A part-time worker would make approximately $2,960 a month, based on the assumption of the weekly salary multiplied by four.
- Full-time work. Full-time workers can expect a monthly salary of about $5,920 by working for 160 hours or 4 weeks in a month.
How much is $37 an hour quarterly?
Let's take a peek at what you can make over three months! It'll be super useful for planning bigger expenses like car payments and vacations. Just remember, to get the exact income for a quarter, we need to factor in the total number of working days in that timeframe.
- Part-time work. If you work for about 240 hours in a three-month period, earning $37 per hour, your total earnings for the quarter would be approximately $8,880.
- Full-time work. If you work for about 480 hours in a three-month period, earning $37 per hour, your total earnings for the quarter would amount to approximately $17,760.
Is $37 an hour enough to live on?
Depending on various individual factors — your age, family commitments, location, existing financial obligations such as mortgage and credit card payments — $37 an hour may or may not be sufficient to cover one's needs and wants.
Since we all find ourselves in different financial circumstances, we can't say that $37 definitely is or isn't a livable wage. These comparisons will help you understand how this salary might play out for common people groups.
Young college graduate
A young college graduate typically has fewer financial responsibilities than an older working adult. They may be single, sharing living costs with roommates, and have minimal debts (apart from a student loan). In such a case, $37 an hour is probably going to be enough to cover living expenses, including housing, utilities, groceries, and social activities, with enough left over to save and have fun.
Middle-aged person changing career
For a middle-aged person looking to change careers, $37 an hour might not provide the same financial stability. They might have a mortgage, kids in college, and various other expenses. Moreover, transitioning to a new job could involve adjusting to a lower salary than what they were previously earning.
Someone living in a rural area
Living in a rural area generally comes with lower living costs. In this scenario, $37 an hour could be enough for an individual to have a comfortable life without worrying about financial constraints.
That being said, it's possible to accumulate a lot of debt and life an exhorbitant lifestyle in the country. The fact that you live in a rural part of the country isn't an instant green light if you already have significant obligations.
Remote worker
As a remote worker with the flexibility to choose their living location, $37 an hour is quite likely to be more than enough to live comfortably, provided they base themselves in an area with lower living costs.
Even working from home in the suburbs and not having to go into the office can save a ton of money over a year in commuting costs, lunches, etc. Working for $37 an hour from a beach in Mexico means you can really take advantage of the arbitrage and get ahead.
Single parent
For a single parent, $37 an hour could be either sufficient or insufficient, depending on the number of children they are supporting, child care expenses, and other costs.
$37 an hour vs the national average
Compared to the national average wage in the USA, which is $33 according to the Bureau of Labor Statistics, earning $37 an hour puts an individual above the average American worker. However, this comparison alone may not be enough to determine whether it's a satisfactory income, as specific living expenses can vary dramatically depending on location and personal factors.
$37 an hour vs the national median
Similarly, when comparing $37 an hour to the national median hourly pay in the USA, which is $22.26 according to the Bureau of Labor Statistics, it appears as a better-than-average salary. Again, it's essential to consider personal circumstances and the costs of one's desired lifestyle when making this comparison.
Who is $37 an hour a good salary for?
$37 an hour is a good salary for some people and inadequate for others. It all just depends on individual circumstances and personal financial goals.
$37 an hour is a good salary for:
- Young college graduates with minimal financial responsibilities
- Individuals living in rural areas with lower living costs
- Remote workers able to choose a location with a lower cost of living
$37 an hour is a less adequate salary for:
- Middle-aged professionals changing careers who have significantly higher living expenses
- Single parents with several children and high child care costs
- Individuals living in high-cost cities where $37 an hour is insufficient to maintain their desired lifestyle
