If you’re earning $70,000 a year, you’d be making $33.65 an hour before taxes. Use this calculator to convert your annual salary into hourly, weekly, and monthly earnings, giving you a better sense of your pay over time.
*The information provided by this calculator is for illustrative purposes only. These figures assume full-time employment and do not include deductions like taxes.
Before taxes, if you earn $70,000 a year and work a standard 40-hour workweek, your hourly wage would be approximately $33.65. Weekly, you’d make about $1,346, and monthly, that adds up to roughly $5,833. These calculations assume you’re working all 52 weeks without unpaid time off.
A $70,000 salary is above both the U.S. median salary of $59,384 and the average salary of $63,795. This puts you above the middle range of income earners in the U.S., though your salary’s value will depend on factors like your location and industry.
Your take-home pay will depend on your tax bracket, state taxes, and deductions. On average, after federal taxes and common deductions, you might take home between $52,000 and $58,000 annually. The exact amount will vary depending on where you live and your individual financial situation.
When you bank with SoFi, you’ll get up to 3.10%1, pay no account fees2, and earn up to $400 with eligible direct deposit of $1,000 or more†.
SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 5/28/26. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet.
SoFi Bank assesses Eligible Direct Deposit or Qualifying Deposits based on a rolling 31-calendar day period and may request additional information for verification of eligibility. A rolling 31-calendar day period means that each time you receive an Eligible Direct Deposit or $5,000 in Qualifying Deposits, a new 31-day period begins, during which you will earn the interest rates and APYs for account holders with Eligible Direct Deposit or Qualifying Deposits. If you receive another Eligible Direct Deposit or $5,000 in Qualifying Deposits during the current 31-day period, the period will reset, and a new 31-day period will begin from the date the criteria are met. You can view the end date of your current 31-day period, based on your most recent deposit activity, by visiting the APY details page within your account.
SoFi Bank reserves the right to grant a grace period to account holders following a change in Eligible Direct Deposit or Qualifying Deposit activity before adjusting interest rates and APYs. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Eligible Direct Deposit activity or $5,000 in Qualifying Deposits within a rolling 31-day period, and, if applicable, the grace period, then you will begin earning the interest rates and APYs earned by members without Eligible Direct Deposit or $5,000 in Qualifying Deposits.
As long as you receive an Eligible Direct Deposit or $5,000 in Qualifying Deposits every 31 calendar days, you will continue earning the interest rates and APYs earned by account holders with Eligible Direct Deposit or $5,000 in Qualifying Deposits. See additional details at https://www.sofi.com/legal/banking-rate-sheet.
No Account Fees
We do not charge any account, service, or maintenance fees for SoFi Checking and Savings. We do charge transaction fees for outgoing wire transfers, Instant Transfers, and global remittance transfers. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at SoFi.com/legal/banking-fees/.
New and existing SoFi members who have never set up direct deposit with SoFi are eligible for the Direct Deposit Bonus. Bonuses are limited to one bonus per SoFi member. In the case of a joint account, direct deposit activity will only be counted towards the primary account holder’s eligibility for the bonus (the primary account holder is the member who opened the joint account first). How do I earn the Direct Deposit Bonus? 1. Set up your first Eligible Direct Deposit. SoFi must receive it on or before 12/31/26. 2. Once SoFi receives and recognizes your first Eligible Direct Deposit of $1 or more, we will add up the Total Eligible Direct Deposits received over the next 25 calendar days. This total will determine the bonus amount. 3. You will receive the bonus amount in your SoFi Checking account within 7 business days of completing all requirements listed above. You are only eligible to receive one bonus amount. You must have an open SoFi Checking account in good standing at the time of the bonus payment.
What is an Eligible Direct Deposit? Eligible: Recurring ACH deposit of regular income to your SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by your employer, payroll or benefits provider or government agency ("Eligible Direct Deposit") Not Eligible: Deposits that are not from an employer, payroll or benefits provider or government agency and deposits that are non-recurring in nature are not eligible. Examples of deposits that are not eligible include check deposits, peer-to-peer transfers (e.g., transfers from Zelle®, PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), bank ACH funds transfers, wire transfers from external accounts, and IRS tax refunds. SoFi Bank shall, in its sole discretion, assess your Eligible Direct Deposit activity to determine eligibility and may require additional documentation to complete this verification. Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your initial Eligible Direct Deposit. After SoFi validates the details of your Eligible Direct Deposit, your Direct Deposit Bonus amount will be based on the amount of Eligible Direct Deposits received within 25 days of your initial Eligible Direct Deposit of $1 or more. What else is important to know?
1
2
† Who is eligible for a Direct Deposit Bonus?
Total Eligible Direct Deposit
Bonus Amount
Timing
$1.00 - $999.99
$0
To determine your bonus amount, SoFi will add up all your Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more.
$1,000.00 - $4,999.99
$50
$5,000.00 or more
$400
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.