Calculate annual, monthly, and weekly income from minimum wage. Enter your state minimum wage and hours to see total yearly earnings.
What does minimum wage actually translate to in annual income? This calculator converts any hourly minimum wage into annual, monthly, and weekly figures based on your work schedule. The federal minimum wage of $7.25/hour at 40 hours/week yields just $15,080/year—below the poverty line for a family of two.
Many states and cities have enacted higher minimum wages, ranging from $10 to over $20/hour. This tool lets you enter any wage rate and work schedule to see the real annual income. It's essential for budgeting, rent affordability analysis, and understanding the financial reality of minimum wage work.
Whether you're a minimum wage worker planning your budget, a policy researcher analyzing wage impacts, or an employer understanding what your workers take home, this calculator provides clear income breakdowns based on actual working hours.
Tracking this metric consistently enables professionals to identify patterns in how they allocate time and effort, revealing opportunities to work more effectively and accomplish more each day.
Minimum wage workers need to know their projected annual income for budgeting, tax filing, and benefit eligibility. This calculator provides precise income figures across all time periods, helping with financial planning and illustrating the real earnings from minimum wage work. This quantitative approach replaces vague time estimates with concrete data, enabling professionals to plan realistic schedules and avoid the pattern of chronic overcommitment.
Annual Income = Minimum Wage × Hours per Week × Weeks per Year
Result: $27,300/year
At $15.00/hour working 35 hours/week for 52 weeks: $15 × 35 × 52 = $27,300 annually. That's $2,275/month or $525/week before taxes. After federal and state taxes, take-home is approximately $23,000–$24,500.
The federal minimum wage of $7.25/hour produces $15,080/year at full-time hours. This falls below the poverty line and is insufficient to cover basic living expenses in any US state. Even at $15/hour, the $31,200 annual income provides a tight budget in most metro areas.
Minimum wage varies dramatically by location. A worker earning $7.25 in one state earns half what a $15/hour worker earns in another. When considering job opportunities or relocations, the local minimum wage significantly impacts baseline earning potential.
With limited income, strict budgeting is essential. The 50/30/20 rule may need adjustment to 70/15/15 (needs/wants/savings). Identify all available tax credits (EITC, Child Tax Credit) and benefits programs to maximize effective income.
At $7.25/hour for 40 hours/week, 52 weeks/year: $15,080 annually. This is below the federal poverty line for a family of two ($20,440 in 2024). Many states have higher minimum wages that result in significantly higher annual incomes.
As of 2024–2025, Washington, California, and several other states exceed $15/hour. Some cities like Seattle, San Francisco, and New York City have minimum wages above $16–$18/hour. Check your local rate, as it may be higher than the state level.
It depends heavily on location. The MIT Living Wage Calculator estimates that a single adult needs approximately $17–$25+/hour in most US metro areas. Minimum wage alone is insufficient in most high-cost areas without public assistance or a second income.
At minimum wage levels, the federal income tax rate is typically 10–12%. FICA adds 7.65%. With the standard deduction ($14,600 in 2024), a $15,080 earner pays very little federal income tax. The EITC can result in a net tax refund.
Benefits vary by employer. Full-time minimum wage workers may receive basic benefits at larger companies. Part-time workers typically receive fewer or no benefits, making the total compensation gap between minimum wage and salaried positions even larger.
A living wage covers basic necessities without public assistance. In most US counties, the living wage for a single adult is $15–$25/hour. The federal minimum of $7.25 covers about 30–50% of living expenses in most areas, requiring supplemental income or assistance.