So you found out you will soon make $88,000 a year from your new promotion or job. But $88,000 a year is how much an hour?
Below you will find how much $88,000 is hourly, daily, weekly, biweekly, monthly, and even after taxes. There’s also an example budget you can use when making $88,000 a year.
To figure out how much $88,000 a year is as an hourly wage, divide $88,000 by 40 hours and 52 weeks. So if you were to work full-time, 40 hours a week, making $88,000 a year, you would earn $42.31 an hour.
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$88,000 a Year is How Much an Hour?
If you make $88,000 a year, your hourly wage would be $42.31. This is calculated by dividing the $88,000 yearly salary by 2,080 total annual hours worked.
There are 52 weeks in the year, and if you work a full-time job, you will typically work 40 hours a week on average. So when you multiply these two numbers together (40 hours and 52 weeks), you will get an answer of 2,080 total annual hours.
Now you can take your yearly salary of $88,000 and divide it by 2,080 annual hours worked to get your hourly wage.
If you decide to take some time off work to, for example, go on a vacation, your total annual hours worked would be reduced. This may result in the hourly wage ($42.31) changing slightly.
Find Out: $87,000 a Year
$88,000 a Year is How Much an Hour After Taxes?
If you make $88,000 a year, you would take home $31.73 an hour after taxes. Your pre-tax hourly wage was $42.31. But after paying 25% in taxes, your after-tax hourly wage would be $31.73 a year.
The amount you pay in taxes depends on many different factors. But assuming a 25% to 30% tax rate is reasonable.
That means about a third to a fourth of your income will go to taxes at $88,000 a year. There are ways to minimize how much you pay in taxes. However, for the average person, assuming this amount as a tax rate can be expected.
88,000 Dollars a Year is How Much After Taxes?
Anyone making $88,000 a year will have an after-tax income of $66,000. This number is calculated by assuming you will pay around 25% of your income towards taxes.
When you’re earning 88,000 dollars annually, it is always a good idea to know your after-tax annual income and hourly wage.
That said, your estimated after-tax salary is $66,000, meaning a portion of your gross income will go towards taxes.
It’s important that you file your taxes correctly every year. This way, you don’t pay more than you have to.
If you don’t like to worry about whether or not you paid the correct amount in taxes on an 88,000 dollar salary, then you need to use TurboTax.
They have a maximum refund and 100% accuracy guarantee. So when you use TurboTax, you can rest assured your taxes will be filed correctly no matter your income.
$88,000 a Year is How Much a Month?
If you make $88,000 a year, you will make $6,769.23 a month before taxes, assuming you are working full-time. Each month after taxes, you will make approximately $5,076.92.
A full-time worker or employee works at least 40 hours a week. If you work either more or fewer hours, this amount will vary slightly.
For this calculation, we will use 160 hours (40 hours multiplied by 4 weeks in a month) to calculate the monthly income of $6,769.23.
Sometimes, if you work more than 40 hours a week, you might be eligible for overtime pay. Overtime pay is 1.5 times what you usually make. So you could end up making more than just $42.31 an hour.
Learn More: $86,000 a Year
$88,000 a Year is How Much Biweekly?
$88,000 a year is $3,384.62 biweekly before taxes and approximately $2,538.46 after taxes. Paying a tax rate of 25% and working full-time at 40 hours a week, you would earn $2,538.46 after taxes.
To calculate how much you make biweekly before taxes, you would multiply the hourly wage for $88,000 a year, $42.31 by 80 hours to get $3,384.62.
Most employers send out paychecks every two weeks. So you may hear people refer to their biweekly pay as their paycheck. That said, you could technically say you make $3,384.62 each paycheck before taxes and $2,538.46 after taxes.
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$88,000 a Year is How Much a Week?
If you make $88,000 a year, you will get paid $1,692.31 a week. This amount is calculated by assuming you work full-time for all four weeks of the month. If you multiply 40 hours by $42.31 an hour, you get $1,692.31, your weekly income.
See: $85,000 a Year
88,000 Dollars a Year is How Much a Day?
$88,000 a year is $338.46 per day before taxes. The standard workday is 8 hours. So by multiplying 8 hours by $42.31 an hour, you would earn $338.46 every day. After taxes, you would earn $253.85 a day.
Comparison Table of $88,000 a Year (Before & After Taxes)
Here is a comparison table of the pretax and after-tax income of $88,000 a year:
| $88,000 a Year | Pretax Income | After-Tax Income |
|---|---|---|
| Yearly (52 Weeks) | $88,000 | $66,000 |
| Monthly (160 Hours) | $6,769.23 | $5,076.92 |
| Biweekly (80 Hours) | $3,384.62 | $2,538.46 |
| Weekly (40 Hours) | $1,692.31 | $1,269.23 |
| Daily (8 Hours) | $338.46 | $253.85 |
| Hourly (1 Hour) | $42.31 | $31.73 |
Tools You Need to Live on $88,000 a Year
So you’re earning $88,000 a year but want to make the most of that money. Here are the best tools you need to start using when living on this amount of income.
CIT Bank
Now that virtually everything is done online so is banking. CIT Bank consistently ranks high as one of the most reliable and trustworthy banks.
When you open up a checking or savings account with them, you do not need to worry about any annoying fees. Start building your savings up the right way with CIT Bank.
TurboTax
Taxes can be quite complicated but they don’t have to be. This is especially true if your annual income is $88,000. TurboTax makes filing your taxes simple with their 100% accuracy and maximum refund guarantee.
Survey Junkie
Everyone enjoys earning some extra cash. Well, Survey Junkie makes it possible for you to actually get paid to share your opinions on products and services.
It is some of the easiest money you could ever make. If you’ve got some spare time, fill out one of their surveys and get paid.
Check out Survey Junkie today and start taking surveys to receive PayPal money and gift cards.
FreshBooks
If you’re making $88,000 a year and are a sole proprietor, business owner, or freelancer, you need to start using FreshBooks. They are an affordable accounting and invoicing software that makes sending invoices and tracking expenses simple.
They are perfect whether you’re a beginner or expert in your field and even offer a free trial. So what are you waiting for? Start saving time using FreshBooks today.
How To Budget $88,000 a Year
Creating a monthly budget for how much you need to spend, save, and invest is not as difficult as it seems. First, you will need to find your after-tax income. This is otherwise known as your take-home pay. Your take-home pay for $88,000 a year or $42.31 an hour is approximately $5,076.92 a month.
You then will need to split that $5,076.92 after-tax income into different categories. These categories represent your expenses, savings, and investments. If you make $88,000 a year, this is an example of what your monthly budget can look like:
| Category | Budget Amount | Percentage |
|---|---|---|
| Housing | $1,523.08 | 30% |
| Saving and Investing | $761.54 | 15% |
| Insurance | $761.54 | 15% |
| Food | $507.69 | 10% |
| Transportation | $507.69 | 10% |
| Entertainment and Recreation | $507.69 | 10% |
| Personal Expenses | $253.85 | 5% |
| Utilities | $253.85 | 5% |
| Total | $5,076.92 | 100% |
Is $88,000 a Year a Good Salary?
An $88,000 salary is significantly higher than the average salary in the United States. In America, the average annual salary is $53,490.
So if you make $88,000 a year, you are making $34,510 more than the average U.S. salary.
Look: $84,000 a Year
$88,000 a Year Salary After Taxes in 2022 (By State)
Here is your estimated $88,000 a year salary after taxes in 2022 for each state. Your after-tax income will change based on state taxes.
Alabama ( $65,358 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 4.05% ) – $3,564
FICA ( 7.65% ) – $6,732
Total Alabama Income Taxes ( 25.73% ) – $22,642
Annual Take-Home Pay in Alabama ( 74.27% ) – $65,358
Alaska ( $68,922 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 0.00% ) – $0
FICA ( 7.65% ) – $6,732
Total Alaska Income Taxes ( 21.68% ) – $19,078
Annual Take-Home Pay in Alaska ( 78.32% ) – $68,922
Arizona ( $66,433 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 2.83% ) – $2,489
FICA ( 7.65% ) – $6,732
Total Arizona Income Taxes ( 24.51% ) – $21,567
Annual Take-Home Pay in Arizona ( 75.49% ) – $66,433
Arkansas ( $64,814 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 4.67% ) – $4,108
FICA ( 7.65% ) – $6,732
Total Arkansas Income Taxes ( 26.35% ) – $23,186
Annual Take-Home Pay in Arkansas ( 73.65% ) – $64,814
California ( $64,182 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 5.39% ) – $4,740
FICA ( 7.65% ) – $6,732
Total California Income Taxes ( 27.07% ) – $23,818
Annual Take-Home Pay in California ( 72.93% ) – $64,182
Colorado ( $65,489 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 3.90% ) – $3,433
FICA ( 7.65% ) – $6,732
Total Colorado Income Taxes ( 25.58% ) – $22,511
Annual Take-Home Pay in Colorado ( 74.42% ) – $65,489
Connecticut ( $64,530 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 4.99% ) – $4,391
FICA ( 7.65% ) – $6,732
Total Connecticut Income Taxes ( 26.67% ) – $23,470
Annual Take-Home Pay in Connecticut ( 73.33% ) – $64,530
Delaware ( $64,345 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 5.20% ) – $4,577
FICA ( 7.65% ) – $6,732
Total Delaware Income Taxes ( 26.88% ) – $23,655
Annual Take-Home Pay in Delaware ( 73.12% ) – $64,345
Florida ( $68,922 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 0.00% ) – $0
FICA ( 7.65% ) – $6,732
Total Florida Income Taxes ( 21.68% ) – $19,078
Annual Take-Home Pay in Florida ( 78.32% ) – $68,922
Georgia ( $64,454 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 5.08% ) – $4,468
FICA ( 7.65% ) – $6,732
Total Georgia Income Taxes ( 26.76% ) – $23,546
Annual Take-Home Pay in Georgia ( 73.24% ) – $64,454
Hawaii ( $62,684 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 7.09% ) – $6,238
FICA ( 7.65% ) – $6,732
Total Hawaii Income Taxes ( 28.77% ) – $25,316
Annual Take-Home Pay in Hawaii ( 71.23% ) – $62,684
Idaho ( $64,263 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 5.29% ) – $4,658
FICA ( 7.65% ) – $6,732
Total Idaho Income Taxes ( 26.97% ) – $23,737
Annual Take-Home Pay in Idaho ( 73.03% ) – $64,263
Illinois ( $64,683 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 4.82% ) – $4,238
FICA ( 7.65% ) – $6,732
Total Illinois Income Taxes ( 26.50% ) – $23,317
Annual Take-Home Pay in Illinois ( 73.50% ) – $64,683
Indiana ( $66,112 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 3.19% ) – $2,810
FICA ( 7.65% ) – $6,732
Total Indiana Income Taxes ( 24.87% ) – $21,889
Annual Take-Home Pay in Indiana ( 75.13% ) – $66,112
Iowa ( $65,058 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 4.39% ) – $3,863
FICA ( 7.65% ) – $6,732
Total Iowa Income Taxes ( 26.07% ) – $22,942
Annual Take-Home Pay in Iowa ( 73.93% ) – $65,058
Kansas ( $64,662 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 4.84% ) – $4,259
FICA ( 7.65% ) – $6,732
Total Kansas Income Taxes ( 26.52% ) – $23,338
Annual Take-Home Pay in Kansas ( 73.48% ) – $64,662
More About Salaries: $83,000 a Year
Kentucky ( $64,656 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 4.85% ) – $4,266
FICA ( 7.65% ) – $6,732
Total Kentucky Income Taxes ( 26.53% ) – $23,344
Annual Take-Home Pay in Kentucky ( 73.47% ) – $64,656
Louisiana ( $65,965 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 3.36% ) – $2,957
FICA ( 7.65% ) – $6,732
Total Louisiana Income Taxes ( 25.04% ) – $22,035
Annual Take-Home Pay in Louisiana ( 74.96% ) – $65,965
Maine ( $64,258 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 5.30% ) – $4,664
FICA ( 7.65% ) – $6,732
Total Maine Income Taxes ( 26.98% ) – $23,742
Annual Take-Home Pay in Maine ( 73.02% ) – $64,258
Maryland ( $65,190 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 4.24% ) – $3,731
FICA ( 7.65% ) – $6,732
Total Maryland Income Taxes ( 25.92% ) – $22,810
Annual Take-Home Pay in Maryland ( 74.08% ) – $65,190
Massachusetts ( $64,742 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 4.75% ) – $4,180
FICA ( 7.65% ) – $6,732
Total Massachusetts Income Taxes ( 26.43% ) – $23,258
Annual Take-Home Pay in Massachusetts ( 73.57% ) – $64,742
Michigan ( $65,390 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 4.01% ) – $3,532
FICA ( 7.65% ) – $6,732
Total Michigan Income Taxes ( 25.69% ) – $22,610
Annual Take-Home Pay in Michigan ( 74.31% ) – $65,390
Minnesota ( $64,196 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 5.37% ) – $4,725
FICA ( 7.65% ) – $6,732
Total Minnesota Income Taxes ( 27.05% ) – $23,804
Annual Take-Home Pay in Minnesota ( 72.95% ) – $64,196
Mississippi ( $65,177 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 4.26% ) – $3,745
FICA ( 7.65% ) – $6,732
Total Mississippi Income Taxes ( 25.94% ) – $22,823
Annual Take-Home Pay in Mississippi ( 74.06% ) – $65,177
Missouri ( $65,305 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 4.11% ) – $3,617
FICA ( 7.65% ) – $6,732
Total Missouri Income Taxes ( 25.79% ) – $22,695
Annual Take-Home Pay in Missouri ( 74.21% ) – $65,305
Montana ( $64,249 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 5.31% ) – $4,673
FICA ( 7.65% ) – $6,732
Total Montana Income Taxes ( 26.99% ) – $23,751
Annual Take-Home Pay in Montana ( 73.01% ) – $64,249
Nebraska ( $64,313 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 5.24% ) – $4,608
FICA ( 7.65% ) – $6,732
Total Nebraska Income Taxes ( 26.92% ) – $23,687
Annual Take-Home Pay in Nebraska ( 73.08% ) – $64,313
Nevada ( $68,922 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 0.00% ) – $0
FICA ( 7.65% ) – $6,732
Total Nevada Income Taxes ( 21.68% ) – $19,078
Annual Take-Home Pay in Nevada ( 78.32% ) – $68,922
New Hampshire ( $68,922 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 0.00% ) – $0
FICA ( 7.65% ) – $6,732
Total New Hampshire Income Taxes ( 21.68% ) – $19,078
Annual Take-Home Pay in New Hampshire ( 78.32% ) – $68,922
New Jersey ( $65,506 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 3.88% ) – $3,416
FICA ( 7.65% ) – $6,732
Total New Jersey Income Taxes ( 25.56% ) – $22,494
Annual Take-Home Pay in New Jersey ( 74.44% ) – $65,506
New Mexico ( $65,504 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 3.88% ) – $3,418
FICA ( 7.65% ) – $6,732
Total New Mexico Income Taxes ( 25.56% ) – $22,496
Annual Take-Home Pay in New Mexico ( 74.44% ) – $65,504
New York ( $64,455 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 5.08% ) – $4,466
FICA ( 7.65% ) – $6,732
Total New York Income Taxes ( 26.76% ) – $23,545
Annual Take-Home Pay in New York ( 73.24% ) – $64,455
Check Out This Annual Salary: $82,000 a Year
North Carolina ( $64,866 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 4.61% ) – $4,056
FICA ( 7.65% ) – $6,732
Total North Carolina Income Taxes ( 26.29% ) – $23,134
Annual Take-Home Pay in North Carolina ( 73.71% ) – $64,866
North Dakota ( $67,763 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 1.32% ) – $1,158
FICA ( 7.65% ) – $6,732
Total North Dakota Income Taxes ( 23.00% ) – $20,237
Annual Take-Home Pay in North Dakota ( 77.00% ) – $67,763
Ohio ( $67,038 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 2.14% ) – $1,884
FICA ( 7.65% ) – $6,732
Total Ohio Income Taxes ( 23.82% ) – $20,962
Annual Take-Home Pay in Ohio ( 76.18% ) – $67,038
Oklahoma ( $65,078 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 4.37% ) – $3,844
FICA ( 7.65% ) – $6,732
Total Oklahoma Income Taxes ( 26.05% ) – $22,922
Annual Take-Home Pay in Oklahoma ( 73.95% ) – $65,078
Oregon ( $61,565 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 8.36% ) – $7,357
FICA ( 7.65% ) – $6,732
Total Oregon Income Taxes ( 30.04% ) – $26,435
Annual Take-Home Pay in Oregon ( 69.96% ) – $61,565
Pennsylvania ( $66,220 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 3.07% ) – $2,702
FICA ( 7.65% ) – $6,732
Total Pennsylvania Income Taxes ( 24.75% ) – $21,780
Annual Take-Home Pay in Pennsylvania ( 75.25% ) – $66,220
Rhode Island ( $66,065 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 3.25% ) – $2,857
FICA ( 7.65% ) – $6,732
Total Rhode Island Income Taxes ( 24.93% ) – $21,935
Annual Take-Home Pay in Rhode Island ( 75.07% ) – $66,065
South Carolina ( $64,185 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 5.38% ) – $4,737
FICA ( 7.65% ) – $6,732
Total South Carolina Income Taxes ( 27.06% ) – $23,815
Annual Take-Home Pay in South Carolina ( 72.94% ) – $64,185
South Dakota ( $68,922 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 0.00% ) – $0
FICA ( 7.65% ) – $6,732
Total South Dakota Income Taxes ( 21.68% ) – $19,078
Annual Take-Home Pay in South Dakota ( 78.32% ) – $68,922
Tennessee ( $68,922 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 0.00% ) – $0
FICA ( 7.65% ) – $6,732
Total Tennessee Income Taxes ( 21.68% ) – $19,078
Annual Take-Home Pay in Tennessee ( 78.32% ) – $68,922
Texas ( $68,922 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 0.00% ) – $0
FICA ( 7.65% ) – $6,732
Total Texas Income Taxes ( 21.68% ) – $19,078
Annual Take-Home Pay in Texas ( 78.32% ) – $68,922
Utah ( $64,566 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 4.95% ) – $4,356
FICA ( 7.65% ) – $6,732
Total Utah Income Taxes ( 26.63% ) – $23,434
Annual Take-Home Pay in Utah ( 73.37% ) – $64,566
Vermont ( $65,144 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 4.29% ) – $3,778
FICA ( 7.65% ) – $6,732
Total Vermont Income Taxes ( 25.97% ) – $22,856
Annual Take-Home Pay in Vermont ( 74.03% ) – $65,144
Virginia ( $64,431 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 5.10% ) – $4,490
FICA ( 7.65% ) – $6,732
Total Virginia Income Taxes ( 26.78% ) – $23,569
Annual Take-Home Pay in Virginia ( 73.22% ) – $64,431
Washington ( $68,922 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 0.00% ) – $0
FICA ( 7.65% ) – $6,732
Total Washington Income Taxes ( 21.68% ) – $19,078
Annual Take-Home Pay in Washington ( 78.32% ) – $68,922
West Virginia ( $64,457 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 5.07% ) – $4,465
FICA ( 7.65% ) – $6,732
Total West Virginia Income Taxes ( 26.75% ) – $23,543
Annual Take-Home Pay in West Virginia ( 73.25% ) – $64,457
Wisconsin ( $64,671 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 4.83% ) – $4,250
FICA ( 7.65% ) – $6,732
Total Wisconsin Income Taxes ( 26.51% ) – $23,329
Annual Take-Home Pay in Wisconsin ( 73.49% ) – $64,671
Wyoming ( $68,922 )
Federal Income Tax ( 14.03% ) – $12,346
State Income Tax ( 0.00% ) – $0
FICA ( 7.65% ) – $6,732
Total Wyoming Income Taxes ( 21.68% ) – $19,078
Annual Take-Home Pay in Wyoming ( 78.32% ) – $68,922
Summary
Here is a quick recap on how you can figure out how much $88,000 a year is hourly, monthly, biweekly, weekly, and daily.
When finding out how much $88,000 a year is per hour, you take $88,000 and divide it by 40 hours and 52 weeks.
When calculating the monthly income for 88,000 dollars a year, you take 88,000 dollars and divide it by 40 hours and 4 weeks.
To find out how much $88,000 a year is biweekly, take $88,000 and divide it by 40 hours and 2 weeks.
For weekly, you take $88,000 and divide it by 40 hours. We divide it by 40 hours because 40 hours a week is considered full-time.
And lastly, to calculate how much $88,000 a year is daily, you take $88,000 and divide it by 8 hours. Eight hours is used in this calculation because that amount of time represents the standard workday.
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