£15 an hour is how much a year? Gross and take-home
The short answer: £15 an hour is £29,250 a year on a 37.5-hour week and £31,200 on a 40-hour week, before tax. The formula is your hourly rate times your weekly hours times 52. After tax and National Insurance, that comes to about £2,048 a month on 37.5 hours.
£15 an hour at different hours
The yearly figure depends on how many hours you work. This assumes a full 52 weeks of pay and 2026/27 tax rates for England, Wales and Northern Ireland, with no pension or student loan.
| Hours a week | Gross a year | Gross a month | Take-home a year | Take-home a month |
|---|---|---|---|---|
| 20 | £15,600 | £1,300 | £14,752 | £1,229 |
| 30 | £23,400 | £1,950 | £20,368 | £1,697 |
| 37.5 | £29,250 | £2,438 | £24,580 | £2,048 |
| 40 | £31,200 | £2,600 | £25,984 | £2,165 |
| 45 | £35,100 | £2,925 | £28,792 | £2,399 |
Hourly to annual: the quick maths
- Per week: £563 at 37.5 hours, £600 at 40 hours.
- Per day: £113 on a 7.5-hour day, £120 on an 8-hour day.
- Per month: divide the annual figure by 12.
Does paid holiday change it?
If your £15 includes paid holiday and bank holidays, you are paid for all 52 weeks and the figures above are right. If you are paid only for the hours you work, your real annual pay is lower, because you take about 5.6 weeks of holiday during the year. Multiplying by 46.4 weeks instead gives £26,100 on a 37.5-hour week, so check whether your holiday is paid. Zero-hours and agency workers often fall into this group; see holiday on zero-hours contracts.
What about overtime?
Overtime at time and a half is £22.50 an hour and double time is £30.00. It is taxed at the same rate as the rest of your pay, so it doesn’t get taxed more, though it can look that way on the payslip. See is overtime taxed more?
To see the take-home figure for any hours or a pension and student loan, use the take-home pay calculator.
Weekly and monthly pay at £15 an hour
| Hours a week | Gross a week | Gross a month | Take-home a month |
|---|---|---|---|
| 20 | £300 | £1,300 | £1,229 |
| 30 | £450 | £1,950 | £1,697 |
| 37.5 | £563 | £2,438 | £2,048 |
| 40 | £600 | £2,600 | £2,165 |
| 45 | £675 | £2,925 | £2,399 |
How £15 compares with the minimum wage
The National Living Wage for workers aged 21 and over is £12.71 an hour. At £15 you earn £2.29 an hour more, which is £4,465 a year extra on a 37.5-hour week. Younger workers have lower legal minimums, so £15 is a much bigger step up for them.
Overtime and shift premiums at £15
At time and a half your hourly rate becomes £22.50, and at double time £30.00. Ten hours of overtime at time and a half adds £225 before tax. See is overtime taxed more than normal pay? for what you keep.
What comes off besides tax
- Workplace pension: under automatic enrolment you normally pay 5% of qualifying earnings and your employer pays at least 3%, so take-home is a little lower than the figures above.
- Student loan: repaid at 9% of earnings above your plan’s threshold, which may apply on a full-time £15 an hour.
- Holiday: if the rate is stated without paid leave, your yearly income is lower. See zero-hours holiday entitlement for how holiday is built up.
How to convert any hourly rate to a salary
Multiply your hourly rate by your weekly hours, then by 52. For a rate with unpaid holiday, multiply by the weeks you actually work instead. To go the other way, divide a salary by 52 and then by your weekly hours. The hourly to salary calculator does both directions.
This is general information. Take-home figures use 2026/27 rates for England, Wales and Northern Ireland, a standard tax code, and no pension, student loan or benefits.
Common questions
£15 an hour is how much a year?
Working 37.5 hours a week, £29,250 a year before tax. At 40 hours a week it is £31,200. Multiply the hourly rate by your weekly hours and by 52.
How much is £15 an hour a month?
About £2,438 a month before tax at 37.5 hours a week, or £2,600 at 40 hours.
How much is £15 an hour after tax?
On a 37.5-hour week, about £24,580 a year, or £2,048 a month, after tax and National Insurance. Student loan repayments or a pension would reduce that further.
Is £15 an hour a good wage in the UK?
It is above the National Living Wage of £12.71 an hour, and a full-time year at £15 an hour is £29,250. Whether it is good depends on where you live and what you pay in rent and bills.
Is the annual figure different if I get paid holiday?
No. If your hourly rate includes paid holiday, multiplying by 52 weeks is correct. If you are paid only for hours you work and take unpaid holiday, multiply by the weeks you actually work.