Earning $31 an hour is a significant financial milestone. It translates to an annual salary that sits comfortably above the national median, positioning you for financial stability and career growth. But what does this figure truly mean for your lifestyle and career path? Is it an entry-level wage, a mid-career benchmark, or a long-term goal?
This article breaks down the numbers behind a $31 hourly wage, explores the types of jobs that offer this level of compensation, and details the key factors you can leverage to reach—and surpass—this impressive earning benchmark.
What Does a $31 per Hour Annual Salary Look Like?
First, let's translate that hourly rate into concrete numbers. Assuming a standard 40-hour workweek and 52 weeks in a year, the calculation is straightforward:
$31 per hour x 40 hours/week x 52 weeks/year = $64,480 per year (gross)
Here’s a snapshot of what that looks like on a regular basis, before taxes and other deductions:
- Annual Gross Income: $64,480
- Monthly Gross Income: ~$5,373
- Weekly Gross Income: $1,240
To put this into perspective, the U.S. Bureau of Labor Statistics (BLS) reported the median hourly wage for all workers in the U.S. was $23.11 in May 2023. At $31 an hour, you are earning significantly more than the typical American worker, placing you in a strong financial position in most parts of the country. This salary can support a comfortable lifestyle, allow for savings and investment, and serve as a solid foundation for building wealth.
Jobs That Pay Around $31 per Hour
A $31/hour wage ($64,480/year) is a common salary benchmark for a wide range of professions that require a specific skill set, a degree, or specialized training. These are often mid-career roles for many fields or starting positions in high-demand sectors.
Here are a few examples of professions where the median pay hovers around this mark, according to the BLS Occupational Outlook Handbook:
- Electricians: With a median pay of $30.88 per hour ($64,240 per year), electricians are a prime example of a skilled trade offering excellent compensation, often learned through apprenticeships rather than a four-year degree.
- Market Research Analysts: These professionals help companies understand what products people want and what they will pay. The BLS reports a median pay of $34.98 per hour ($72,760 per year), making a $31/hour wage a realistic target for those with a few years of experience.
- Loan Officers: Working in the financial sector, loan officers evaluate and authorize credit or loan applications. Their median pay is $35.13 per hour ($73,070 per year), though earnings can be heavily influenced by commission.
- Licensed Practical and Licensed Vocational Nurses (LPNs/LVNs): A crucial role in healthcare, LPNs provide basic medical care. While the median pay is $27.91 per hour ($58,050 per year), experienced LPNs in high-demand settings can easily earn $31/hour or more.
Key Factors That Influence Salary
Reaching the $31-an-hour mark isn't just about choosing the right job title; it’s about strategically building your career profile. Several key factors directly impact your earning potential.
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Level of Education
Your educational background is a foundational pillar of your earning power. For many professional roles, a bachelor's degree is the minimum requirement to be considered for positions in the $65,000 range. However, it's not the only path.
- Skilled Trades: As seen with electricians, a formal apprenticeship or an associate's degree from a technical college can lead to high-paying jobs without the debt of a four-year university.
- Bachelor's Degree: Fields like marketing, finance, and communications often see salaries around $31/hour for professionals with a few years of experience post-graduation.
- Certifications: In fields like IT, project management (PMP), or human resources (SHRM-CP), industry-recognized certifications can dramatically increase your hourly rate by validating your specialized skills.
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Years of Experience
Experience is arguably one of the most significant determinants of pay. Companies pay for proven expertise and a track record of success.
- Entry-Level (0-2 years): In many professional fields, new graduates may start in the $22-$28 per hour range.
- Mid-Career (3-8 years): This is the sweet spot where many professionals cross the $31/hour threshold. You've proven your competence, can work independently, and are a valuable asset to your team.
- Senior/Experienced (8+ years): At this stage, professionals in strong fields should be earning well above $31/hour, often moving into the $40-$50+ per hour range ($83,000 - $104,000+ per year).
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Geographic Location
Where you live and work plays a massive role in your salary. A $64,480 annual salary can feel very different in a low-cost-of-living area compared to a major metropolitan center. Salary data aggregator Payscale notes that cities like San Francisco and New York have salary levels that are over 25% higher than the national average, but this comes with a significantly higher cost of living. Conversely, your $31/hour will stretch much further in cities across the Midwest or South. Remote work has complicated this, but many companies still adjust pay based on the employee's location.
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Company Type
The size, industry, and type of your employer create different compensation structures.
- Large Corporations: Big, publicly traded companies (like those in the Fortune 500) typically have higher salary bands and more robust benefits packages.
- Startups: While startups might offer a lower base salary, they may compensate with equity (stock options), which carries a higher risk but potential for a large payoff.
- Government & Non-Profit: These sectors may offer slightly lower pay than their for-profit counterparts but often provide excellent job security, great benefits, and a better work-life balance.
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Area of Specialization
Within any given field, specialists almost always out-earn generalists. A generalist marketing coordinator might earn $28/hour, but a marketing professional who specializes in high-demand Search Engine Optimization (SEO) or Marketing Automation could command $35/hour or more. Similarly, a general IT support technician's wage will be lower than that of a specialist in cybersecurity or cloud computing. Identifying and developing a valuable niche is a powerful way to increase your hourly rate.
Job Outlook and Boosting Your Earnings
The demand for your skills directly impacts your leverage in salary negotiations. For example, the BLS projects that employment for Market Research Analysts will grow by 13% between 2022 and 2032—much faster than the average for all occupations. This high demand gives qualified professionals more power to command higher wages.
If you are not yet earning $31/hour, focus on high-growth fields and strategic upskilling. Pursue certifications, take on projects that expand your expertise, and build a strong professional network. Don't be afraid to negotiate your salary during performance reviews or when considering a new job offer, using data from sources like Glassdoor and Salary.com to back up your request.
Conclusion
A salary of $31 per hour, or $64,480 per year, represents a strong, middle-class income that provides financial security for individuals and families across the United States. It's a benchmark that signifies a level of skill, experience, and value in the professional marketplace.
Reaching this goal is an achievable objective for those who plan their careers strategically. By focusing on a combination of relevant education, gaining valuable experience, specializing in a high-demand niche, and understanding the economic landscape of your industry and location, you can confidently work your way to—and well beyond—the $31 per hour mark.