Annual Salary for $25 An Hour
Annual salary for a $25 per hour job is $30,000. This is the same as an annual salary of $15 per hour. The difference is that at $15 per hour you would make less than $30,000 in a year because your hours would be limited to 40 hours per week. If a person worked forty hours a week at $15 an hour, they would make only $600 per week and therefore only be able to make $6000 in one year.
The annual salary for $25 an hour is $50,000. This is calculated by multiplying your hourly wage by 2,000 hours in a year and then dividing that by 12 months.
Annual Salary For $25 An Hour
Personal income is an individual’s total earnings from wages, investment interest, and other sources. The Bureau of Labor Statistics reported a median weekly personal income of $1,037 for full-time workers in Q1 2022.[2] The U.S. Census Bureau estimated median annual earnings at $41,535 in 2020 for workers aged 15 and over with earnings and $56,287 in 2020 for those who worked full-time, year round.[3]
Income patterns are evident on the basis of age, sex, ethnicity and educational characteristics. In 2005 roughly half of all those with graduate degrees were among the nation’s top 15% of income earners. Among different demographics (gender, marital status, ethnicity) for those over the age of 18, median personal income ranged from $3,317 for an unemployed, married Asian American female[4] to $55,935 for a full-time, year-round employed Asian American male.[5] According to the US Census, men tended to have higher income than women, while Asians and Whites earned more than African Americans and Hispanics.
Contents
- 1Income statistics
- 2By educational attainment
- 3Income distribution
- 4Over time, by ethnicity and sex
- 5By ethnicity and origin
- 6See also
- 7References
- 8External links
Income statistics
In the United States the most widely cited personal income statistics are the Bureau of Economic Analysis‘s personal income and the Census Bureau‘s per capita money income. The two statistics spring from different traditions of measurement—personal income from national economic accounts and money income from household surveys. BEA’s statistics relate personal income to measures of production, including GDP, and is considered an indicator of consumer spending. The Census Bureau’s statistics provide detail on income distribution and demographics and are used to produce the nation’s official poverty statistics.
Personal income and disposable personal income
BEA’s personal income measures the income received by persons from participation in production, from government and business transfers, and from holding interest-bearing securities and corporate stocks. Personal income also includes income received by nonprofit institutions serving households, by private non-insured welfare funds, and by private trust funds. BEA also publishes disposable personal income, which measures the income available to households after paying federal and state and local government income taxes.
Income from production is generated both by the labor of individuals (for example, in the form of wages and salaries and of proprietors’ income) and by the capital that they own (in the form of rental income of persons). Income that is not earned from production in the current period—such as capital gains, which relate to changes in the price of assets over time—is excluded.
BEA’s monthly personal income estimates are one of several key macroeconomic indicators that the National Bureau of Economic Research considers when dating the business cycle.[6]
Personal income and disposable personal income are provided both as aggregate and as per capita statistics. BEA produces monthly estimates of personal income for the nation, quarterly estimates of state personal income, and annual estimates of local-area personal income. More information is found on BEA’s website.[7]
See also: Per capita personal income in the United States
Census Money Income
The Census Bureau collects income data on several major surveys, including the Annual Social and Economic Supplement (ASEC) of the Current Population Survey (CPS), the Survey of Income and Program Participation (SIPP), and the American Community Survey (ACS). The CPS is the source of the official national estimates of poverty and the most widely cited source of annual household income estimates for the United States.[8]
The CPS measure of money income is defined as the total pre-tax cash income received by people on a regular basis, excluding certain lump-sum payments and excluding capital gains.
The Census Bureau also produces alternative estimates of income and poverty[9] based on broadened definitions of income that include many of these income components that are not included in money income.
The Census Bureau releases estimates of household money income as medians, percent distributions by income categories, and on a per capita basis. Estimates are available by demographic characteristics of householders and by the composition of households. More details on income concepts and sources are found on the Census Bureau’s website.[10]
By educational attainment
Educational attainment: People 25 years old and over by median income: 1991 to 2018[11]
| Measure | Some high school | High school graduate | Some college | Associate’s degree | Bachelor’s degree or higher | Bachelor’s degree | Master’s degree | Professional degree | Doctorate degree |
|---|---|---|---|---|---|---|---|---|---|
| Persons, w/ earnings | $24,576 | $33,669 | $37,968 | $37,968 | $61,440 | $56,592 | $70,608 | $91,538 | $79,231 |
| Male, w/ earnings | $22,214 | $32,307 | $39,823 | $43,785 | $70,437 | $62,304 | $78,222 | $111,881 | $91,604 |
| Female, w/ earnings | $20,784 | $28,896 | $33,360 | $33,360 | $54,480 | $49,248 | $61,200 | $65,012 | $68,887 |
| Persons, employed full-time | $30,598 | $38,102 | $43,377 | $47,401 | $71,221 | $64,074 | $77,285 | $117,679 | $101,307 |
Field of study significantly affects earning potential, and the more specific education is disaggregated, the larger the variance. For example, the 2013-15 American Community Survey reported median incomes for workers aged 25-34 ranging from $24,030 for bachelor’s degrees in arts and humanities, to $68,143 for bachelor’s degrees in engineering.[13] A 2011 report by Georgetown University on full-time, employed earners found that median income for specific majors varied from $29,000 for Counseling Psychology to $120,000 for Petroleum Engineering.[14]
Income distribution
Of those individuals with income who were older than 15 years of age, approximately 50% had incomes below $30,000 while the top 10% had incomes exceeding $95,000 a year in 2015.[2] The distribution of income among individuals differs substantially from household incomes as 39% of all households had two or more income earners. As a result, 25% of households have incomes above $100,000,[15] even though only 9.2% of Americans had incomes exceeding $100,000 in 2010.[2]
As a reference point, the US minimum wage since 2009 has been $7.25 per hour or $15,080 for the 2080 hours in a typical work year. The minimum wage is approximately 25% over the official U.S. government-designated poverty income level for a single person unit (before taxes) and about 63% of the designated poverty level for a family of four, assuming only one worker (before taxes). (See Poverty in the United States). Annual wages of $30,160; $45,240; $75,400; $150,800 and $1.5M correspond to 2, 3, 5, 10 and 100 times minimum wage respectively.[16]
Income distribution among all those above age 25 and those between 25 and 64 with earnings.[17][18] NOTE: 25+ statistics will not add up exactly to 100% due to the unemployment rate
| Income range | Number of people | Percent in group | Percent at or below | Cumulative percentages | ||
|---|---|---|---|---|---|---|
| Under $2,500 | 14,689,000 | 6.48 | 6.48 | less than $25k 42.87% | less than $50k 70.23% | less than $100k 90.85% |
| $2,500 to $4,999 | 6,262,000 | 2.76 | 9.24 | |||
| $5,000 to $7,499 | 7,657,000 | 3.38 | 12.62 | |||
| $7,500 to $9,999 | 10,551,000 | 4.65 | 17.27 | |||
| $10,000 to $12,499 | 12,474,000 | 5.50 | 22.77 | |||
| $12,500 to $14,999 | 8,995,000 | 3.97 | 26.74 | |||
| $15,000 to $17,499 | 10,672,000 | 4.71 | 31.44 | |||
| $17,500 to $19,999 | 7,931,000 | 3.50 | 34.94 | |||
| $20,000 to $22,499 | 11,301,000 | 4.86 | 39.80 | |||
| $22,500 to $24,999 | 6,962,000 | 3.07 | 42.87 | |||
| $25,000 to $50,000 | ||||||
| $25,000 to $27,499 | 9,623,000 | 4.24 | 47.12 | $25k–$50k 27.36% | ||
| $27,500 to $29,999 | 5,535,000 | 2.44 | 49.56 | |||
| $30,000 to $32,499 | 10,399,000 | 4.59 | 54.15 | |||
| $32,500 to $34,999 | 4,429,000 | 1.95 | 56.10 | |||
| $35,000 to $37,499 | 7,975,000 | 3.52 | 59.62 | |||
| $37,500 to $39,999 | 3,930,000 | 1.73 | 61.35 | |||
| $40,000 to $42,499 | 8,091,000 | 3.57 | 64.92 | |||
| $42,500 to $44,999 | 3,113,000 | 1.37 | 66.29 | |||
| $45,000 to $47,499 | 5,718,000 | 2.52 | 68.81 | |||
| $47,500 to $49,999 | 3,221,000 | 1.42 | 70.23 | |||
| $50,000 to $75,000 | ||||||
| $50,000 to $52,499 | 7,130,000 | 3.14 | 73.38 | $50k–$75k 14.06% | $50k–$100k 20.62% | |
| $52,500 to $54,999 | 2,489,000 | 1.10 | 74.47 | |||
| $55,000 to $57,499 | 3,834,000 | 1.69 | 76.16 | |||
| $57,500 to $59,999 | 2,066,000 | 0.91 | 77.08 | |||
| $60,000 to $62,499 | 5,047,000 | 2.23 | 79.30 | |||
| $62,500 to $64,999 | 1,894,000 | 0.84 | 80.14 | |||
| $65,000 to $67,499 | 3,289,000 | 1.45 | 81.59 | |||
| $67,500 to $69,999 | 1,493,000 | 0.66 | 82.24 | |||
| $70,000 to $72,499 | 3,264,000 | 1.44 | 83.68 | |||
| $72,500 to $74,999 | 1,372,000 | 0.61 | 84.29 | |||
| $75,000 to $100,000 | ||||||
| $75,000 to $77,499 | 2,922,000 | 1.29 | 85.58 | $75k–$100k 6.56% | ||
| $77,500 to $79,999 | 1,307,000 | 0.58 | 86.15 | |||
| $80,000 to $82,499 | 2,725,000 | 1.20 | 87.36 | |||
| $82,500 to $84,999 | 1,021,000 | 0.45 | 87.81 | |||
| $85,000 to $87,499 | 1,508,000 | 0.67 | 88.47 | |||
| $87,500 to $89,999 | 856,000 | 0.38 | 88.85 | |||
| $90,000 to $92,499 | 1,966,000 | 0.87 | 89.72 | |||
| $92,500 to $94,999 | 712,000 | 0.31 | 90.03 | |||
| $95,000 to $97,499 | 1,090,000 | 0.48 | 90.51 | |||
| $97,500 to $99,999 | 768,000 | 0.34 | 90.85 | |||
| $100,000 or more | ||||||
| $100,000 or more | 20,755,000 | 9.15 | 100 | 9.15% |
SOURCE: US Census Bureau, Current Population Survey 2016 Annual Social and Economic Supplement.[19] Source of Income in 2015- People 15 Years Old and Over, By Income of Specified Type in 2015, Age, Race, Hispanic Origin, and Sex[20] SOURCE: US Census Bureau, Current Population Survey 2016[2]
Over time, by ethnicity and sex
This chart is median income of 15 year olds or older, who have non-zero income.[21] Amounts are shown in nominal dollars and in real dollars (in parentheses, 2017 dollars).
| 1950 | 1960 | 1970 | 1980 | 1990 | 2000 | 2004 | 2016[citation needed] | ||
|---|---|---|---|---|---|---|---|---|---|
| Overall | Male | $2,570 ($26,270) | $4,080 ($33,940) | $6,670 ($42,270) | $12,530 ($37,530) | $20,293 ($38,210) | $28,343 ($40,490) | $30,513 ($39,740) | $38,869 ($38,869) |
| Female | $953 ($9,742) | $1,261 ($10,490) | $2,237 ($14,180) | $4,920 ($14,690) | $10,070 ($18,960) | $16,063 ($22,950) | $17,629 ($22,960) | $24,892 ($24,892) | |
| White/European American | Male | $2,709 ($27,690) | $4,296 ($35,740) | $7,011 ($44,430) | $13,328 ($39,790) | $21,170 ($39,860) | $29,797 ($42,570) | $31,335 ($40,810) | $40,632 ($40,632) |
| Female | $1,060 ($10,840) | $1,352 ($11,250) | $2,266 ($14,360) | $4,947 ($14,770) | $10,317 ($19,430) | $16,079 ($22,970) | $17,648 ($22,990) | $25,221 ($25,221) | |
| Black/African American | Male | $1,471 ($15,040) | $2,260 ($18,800) | $4,157 ($26,340) | $8,009 ($23,910) | $12,868 ($24,230) | $21,343 ($30,490) | $22,740 ($29,620) | $29,376 ($29,376) |
| Female | $474 ($4,846) | $837 ($6,963) | $2,063 ($13,070) | $4,580 ($13,670) | $8,328 ($15,680) | $15,581 ($22,260) | $18,379 ($23,940) | $22,690 ($22,690) | |
| Asian | Male | NA | NA | NA | NA | $19,394 ($36,520) | $30,833 ($44,050) | $32,419 ($42,230) | $46,590 ($46,590) |
| Female | NA | NA | NA | NA | $11,086 ($20,870) | $17,356 ($24,800) | $20,618 ($26,860) | $26,771 ($26,771) |
