Have you ever wondered how much money the President of the United States makes? The job is far from your typical nine-to-five as it requires long hours, a tremendous amount of responsibility, and constant scrutiny from the public eye.
After being elected, the president works non-stop for four years. While it’s true that their annual salary is higher than the average American worker, it might not be as high as one would assume, considering the amount of work they do. However, the salary is still a significant amount. In addition to their salary, the president also receives various benefits and allowances.
Ever since it was first developed, the authority and power of the presidency have increased considerably, as has the federal government’s authority as a whole. While presidential power has been changing and fluctuating over time, one thing that has remained constant and has only been increasing is the solid role of the American presidency in the United States political life since the start of the twentieth century. A remarkable development was made during the administration of Franklin D. Roosevelt.
In contemporary occasions, the president is additionally viewed as one of the world’s most impressive political figures as the head of the main global superpower. As the head of the country with the biggest economy by nominal GDP, the president has critical domestic and international hard and soft power. Moreover, like the average American, the leader of the United States is also on salary.
So, how much money does the president make? The article covers this question; therefore, keep reading to find out.
How Much Money Does The President Make?
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This is one question that most wage workers must ask themselves every time they reach their nine-to-five workplace. The president of the United States is in a powerful position, and the salary he receives mirrors this fact.
A Breakdown Of The President’s Earnings
The president earns an annual salary of $400,000. The complete breakdown of the entire income that a sitting US president receives is given in the table below.
A president is still entitled to earn a specific salary even after leaving his office. This is because the president is considered a “public servant” even after they leave office. The current rate for a former president is $207,800 per year.
How Much Money Does The President Make In An Hour?
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Before we figure out how much money the president makes in an hour, let us look at how many hours he works in a day. In one of his interviews, former president Barack Obama said that he worked 13 hours a day, where 10 hours were from the Oval Office, while the remaining three were from home. Therefore, given these stats, assume that the president works 13 hours daily. Being the head of the state requires the president to be on call 24/7. So, to make it simple, let us say that he works seven days a week, which means that weekends are included.
One thing that needs to be considered is the number of days the president takes off for a vacation. This solely depends on the president. John Adams holds the record for taking the most vacation and is also often criticized for it. He only came to his office for four months while he was on holiday for the remaining 1799 days of his tenure. The current President Joe Biden has taken 238 days off (as of yet), while the previous President Donald Trump took 381 days off for his four-year tenure, while President Barack Obama took 328 days off in his entire tenure of 8 years. So on average, the president works for 49 weeks in a year.
Based on these estimated figures, the president works for roughly 4459 hours in one year, with an annual salary of $400,000. Moreover, the president is paid $89.71 an hour.
How Much Money Does The President Make In A Day?
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Considering the figures mentioned above, the president makes $89.71 in an hour. We can figure out how much he makes daily, given that he works for 13 hours. So, on average, the president makes $1166.23 in a day.
Does The President Get Paid For Life?
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One big perk of becoming a president is getting paid for life, even after your term is over. In 1928, Congress passed The Former Presidents Act. This act made sure that U.S. presidents get paid for life. This act was passed to provide for President Harry Truman, who faced many financial difficulties after his presidential tenure. With this Act, the former President receives the following financial incentives.
- Presidents of the United States receive a Advertisement
- They also get travel funds of $1 Million, or they are reimbursed for that amount
- Office space
- Staff support
- Mailing costs
- They receive health benefits for a lifetime
- Their funeral ceremony is held with full honor, i.e., if they choose to. (they are buried at Arlington National Cemetery)
Each staff person’s salary starts from $150,000 yearly for the first 30 months and $96,000 a year afterward.
The former presidents receive a pension equivalent to that of a federal government executive department. In 2020, these Executive Level 1 employees received $219,200; the former president also got $219,200. The president starts to receive the pension immediately after leaving office. Apart from that, ex-presidents also receive seven months of transition services that cover the costs of winding down the outgoing authorities and briefing the incoming ones.
Along with receiving a pension, the former president can also earn money by publishing memoirs, becoming a part of corporate boards, and giving speeches to audiences all across the globe. There is no limit to how much the ex-president earns this way. Clinton received more than $65 million just for his speeches after his presidency and another $15 million for his published memoirs.
How Much Does The First Lady Make?
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The First Lady gets no pay. The duties incorporate SVP of communications and strategic planning, head of program management, and VP of Global Affairs. Some First Ladies surrendered rewarding jobs to go into the White House. Hillary Clinton was a partner at Rose Law Firm in Arkansas. Michelle Obama was chief at the University of Chicago hospitals. In case the ex-president passes away, leaving behind a widow. The wife of a deceased president is given a pension of $20,000 for life, along with the benefit of free postage.
Who Pays The President?
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The United States government pays the president, explicitly the U.S. Division of the Treasury, as the president works for the United States government and is its most noteworthy official. This is the same for the rest of the United States government employees as well, ranging from the most minimal ranking civil employees and military officials to the individuals from the U.S. members of Congress and the U.S. High Court, along with the rest of the central government employees,
The payments made are produced fundamentally from different sorts of federal tax revenues, even though the U.S. government has a few extra income sources from different charges, fines, customs obligations, tariffs, and so forth, and sporadically from the sale of different government resources, including land, natural resources, and other real estate properties and an overflow or surplus of equipment.
Presidents Who Didn’t Take a Salary
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The Constitution requires a president to take a salary. The Founding Fathers needed to shield even rich presidents from the adversity that could entice them to accept bribes. The compensation may have additionally been intended to guarantee that an absence of personal riches would not restrict an elected president from taking office. However, there have been four presidents who have refused to take their due income. They either gave away all of it or part of it. The following four presidents refused their salary:
- Donald J. Trump: Trump donated his annual presidential salary of $400,000 to various federal departments. According to Forbes, his net worth is $3.1 billion.
- John F. Kennedy: He donated his $100,000 income to charity. Moreover, he also retained the $50,000 entertainment allowance. Kennedy also inherited a multi-million dollar trust fund. He had also donated his salary while serving 14 years in Congress.
- Herbert Hoover: He split his income between different charities and gave some to his staff. In 1913, Hoover’s net worth was around $4 million, which is $103 million today.
- George Washington: George Washington donated his $25,000 salary but used some of it for travel costs. He needed a special chariot to travel through the dusty and rocky roads of the South. He had also refused an income while he was the commander of the United States military.
Who Is The Richest President?
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The richest president in history is believed to be Donald Trump, who is often considered the first billionaire president. Although his precise net worth is still a mystery because the Trump Organization is privately held, according to a few recorded estimates, the peak net worth of the 45th president of the United States is $3.1 billion.
As per the New York Times, Donald Trump was born into a rich family and acquired approximately $413 million from his father. After assuming control over his father’s real estate business, he became significantly more wealthy and now possesses billions of dollars in land. Truman was among the least rich United States presidents, with under $1 million in total assets.
Salary History For Presidents
1789 – 1872
1873 – 1908
1909 – 1948
|1909 – 1948||
1949 – 1968
|1949 – 1968||
1969 – 2000
|1969 – 2000||
2001 – Present
|2001 – Present||
In 225 years, the president’s paycheck has increased five times. It has doubled greatly from 1789 to 1873, 1949 to 1969, and 1969 to 2001. However, despite this apparent salary increase, the current one is the lowest in history if we calculate the modern equivalent of these presidential incomes.
What Are The Salaries Of Other Federal Employees?
The president’s salary is typically not increased, whereas members of Congress can receive frequent raises. Article I, Section 6 of the Constitution requires Congress to determine its pay. Since 1989, members of Congress have been receiving an annual cost-of-living pay raise unless they vote against it, which they have done every year since 2009.
The last time Congress received a pay adjustment was in January 2009, when their salary was increased by 2.8 percent to $174,000, which remains the same. As for other high-ranking federal officials, such as those in the judicial branch, the U.S. House of Representatives Press Gallery and the United States Courts report their current salaries in the following list.
- The President’s annual compensation package includes a salary of $400,000, a $50,000 expense account, $100,000 in tax-exempt funds for travel, an official entertainment account worth $19,000, and accessible housing.
- After leaving office, the former President is entitled to a yearly pension of $150,000 and an additional $150,000 yearly to cover staff maintenance costs.
- The Vice President receives an annual salary of $235,100, a $10,000 expense account, and free housing.
- Cabinet officials, such as the Secretary of Defense and the Attorney General, receive an annual salary of $226,300.
- The Speaker of the House of Representatives receives an annual salary of $223,500.
- The President pro tempore of the Senate receives an annual salary of $193,400.
- The majority and minority leaders of the Senate and House of Representatives each receive an annual salary of $193,400.
- Senators and Representatives who do not hold leadership positions receive an annual salary of $174,000.
- The United States Chief Justice receives an annual salary of $286,700.
- Associate Justices of the Supreme Court receive an annual salary of $274,200.
- Judges of the Circuit Court receive an annual salary of $236,900.
- Judges of the District Court receive an annual salary of $223,400.
How much does the president make in 2023?
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The President of the United States is paid a salary of $400,000 annually; this amount has been set since 2001 and is adjusted for inflation. In addition, a $50,000 expense allowance and a $100,000 travel allowance is also given to them. The president also receives a $19,000 entertainment allowance. Additionally, the president receives free housing at the White House and has access to a fleet of vehicles. The presidential salary after the office is $207,800 per year.
The United States Vice President is paid a salary of $230,700 annually. Additionally, the Vice President receives a $10,700 entertainment allowance and a $100,000 travel allowance.
What are the financial perks of being president?
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Being the President of the United States comes with various financial perks and benefits beyond just the salary. Here are some of the most significant ones.
- Staff: The President has a team of staff members who handle various tasks, including speechwriting, scheduling, and travel arrangements. This team includes a chief of staff, a press secretary, and other assistants.
- Travel: The President and their family are provided transportation and security for all official travel, including domestic and international trips. The President has access to Air Force One, a fleet of aircraft used for official travel.
- Food: The President and their family have access to a full-time executive chef who prepares meals for them in the White House kitchen. The President also has access to an executive pastry chef who bakes desserts and treats.
- Entertainment: The President can access various entertainment options, including a movie theater and a bowling alley in the White House. The President can also request to have musical performances, plays, or other entertainment brought in.
- Vacations: The President and their family are entitled to vacations, and the government pays for the cost of transportation and security during these trips. The President can choose to vacation at Camp David, a secluded retreat in Maryland’s mountains.
- Camp David: The President has access to the presidential retreat at Camp David, a secluded getaway in the mountains of Maryland. This retreat provides a secure location for the President to meet with foreign leaders or to take a break from the demands of the presidency.
- Communication: The President can access secure communication channels, including phones and email, to communicate with staff and other government officials. These channels are secure to protect the confidentiality of the information being discussed.
- Support staff: The President has access to a support staff that includes a personal physician, nurse, and other medical professionals. This staff can provide medical care to the President and their family members as needed.
- Education: The President’s children are entitled to attend private schools in the Washington, D.C. area, and the government covers the cost of tuition. This perk is given to provide the President’s children with access to a high-quality education while living in Washington, D.C.
- Expense accounts: The President and their family members are provided with expense accounts to cover the cost of official business travel and other expenses related to the presidency. These accounts are designed to ensure that official business costs do not personally burden the President and their family members.
- Retirement benefits: After leaving office, the President is entitled to a pension, staff, and office expenses, as well as other benefits. These benefits are granted to support the President after they leave office and ensure they can continue to impact the country positively.
- Secret Service protection: The President and their immediate family receive lifelong protection from the Secret Service. This protection is formed for the Safety and security of the President and their family members, both while in office and after they leave office.
- Air travel: The President has access to a fleet of aircraft, including Air Force One, which is used for official travel. This fleet of aircraft is given to the president to ensure that the President can travel safely and efficiently to any location in the world.
- Housing upgrades: The Family of The President can renovate and upgrade the living quarters in the White House to their liking, and the government pays for these expenses. This perk is designed to ensure that the President and their family members feel comfortable and make themselves at home during their stay in the White House.
- State dinners: While in office serving as President, they can host state dinners and other official events at the White House. The government covers the cost of the food, decorations, and other expenses associated with these events.
- Clothing allowance: Another great financial perk given to the president is that the President is provided with an annual clothing allowance to cover the cost of purchasing new clothing for official events and public appearances.
- Access to top advisors: Being President is a job that requires extreme intelligence to be applied to the decisions made; thus, the President has access to top advisors in various fields, including economics, foreign policy, and national security. These advisors give the President expert advice on important issues facing the country.
- Access to technology: Outside threats can easily interfere with technology; thus, the President has access to the latest technology, including secure computers and communication devices, to conduct official business. This technology ensures that the President can communicate and work efficiently and securely.
Now that you have read the article, you know that the president of the United States makes 400,000 dollars a year, excluding the money they receive for travel expenses, as an allowance, entertainment, etc. When looking at the history of the salaries that U.S. presidents have been receiving, the current president earns the lowest.
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How does the president get paid?
The President of the United States receives a salary that is determined by Congress, which is currently set at $400,000 per year. This amount is paid monthly. In addition to the salary, the President is entitled to several benefits, including a $50,000 annual expense allowance, a $100,000 nontaxable travel account, and access to housing in the White House. After leaving office, the President is also eligible to receive a pension.
How much money does the president make in a year?
How much do presidents get paid – The President of the United States is paid a salary of $400,000 annually. In addition, the President is also given a $50,000 expense account, $100,000 for paid official travel, and a $19,000 entertainment account.
What is the President’s salary in 2023?
The president’s salary in 2023 is $400,000, which has been the same since 2001. This includes a $50,000 expense allowance, a $100,000 travel allowance, and a $250,000 salary. The president also receives a $50,000 annual pension.
The president’s spouse receives a salary of $20,000. The vice president’s spouse receives a salary of $10,000. The first family has no separate budget; they are expected to live within the means of the presidential compensation for life.
What is the salary of the Vice President?
The Vice President of the United States is the second-in-command to the President. The Vice President is also the President of the Senate and may cast a tie-breaking vote should there be a 50-50 split in the Senate. The Vice President’s salary is $235,100 per year.
The current Vice President of the USA is Kamala Harris. She was sworn in on January 20, 2021. She previously served as the Attorney General of California from 2010 to 2017. She was also a United States senator who presented for California from 2017 to 2021.
How much salary is granted to the members of Congress?
The amount of wages given to each official varies from office to office. But here are some of the salaries of the people elected in Congress.
- Speaker of the House of Representatives receives $223,500
- Senate president pro tempore receives $193,400
- Senate and House, majority and minority, leaders receive $193,400
- Other senators and representatives receive $174,000
- Chief Justice of the United States receives $286,700
- Supreme Court associate justices receive $274,200
- Circuit judges receive $236,900
- District judges receive $223,400
For how long do the Presidents of the United get paid?
The President of the United States receives an annual salary of $400,000, payable throughout their term in office. Upon leaving office, the President is entitled to a pension equivalent to the salary of an Executive level 1 employee, which currently stands at $210,700. Also, former Presidents can receive medical treatment at military hospitals at a cost. Those who have served two terms can enroll in a military-style health insurance plan. For up to seven months following their departure from office, former Presidents are granted funds to cover relocation expenses, including free postage.
How long do former presidents receive Secret Service protection after they leave office?
The United States Secret Service is a federal law enforcement agency of the United States Department of Homeland Security. The Secret Service is responsible for protecting the President of the United States, the Vice President of the United States, the President-elect, and the Vice President-elect. In addition to these duties, the Secret Service also investigates crimes related to counterfeiting, computer fraud, credit card fraud, and identity theft. The Secret Service was created in 1865 in response to the assassination of President Abraham Lincoln.
Under Public Law 89-186, enacted by Congress in 1965, the Secret Service is authorized to protect former presidents and their spouses for their lifetime unless they choose to decline such protection.
At what age is a person eligible to become president of the U.S.?
A person must be at least 35 years old to be eligible to become president of the United States.
Did President Trump donate his salary?
President Trump donated his salary to various charities when he took over office. In 2017, he gave $1 million to the Department of Homeland Security’s offices of Immigration and Customs Enforcement and Customs and Border Protection. In 2018, he donated his salary to the Department of Veterans Affairs.
What was President George Washington’s salary?
As a President of the United States, George Washington made $0. He had declined any sort of salary at the time of his inauguration.
How much is a US President’s hourly wage?
Since a president of the US makes $400,000 a year while working 91 hours a week and 49 weeks per year, we can calculate the hourly wage of a US president to be about $89.71 an hour.
What number of times has the Presidential salary been increased?
The salary of a serving president of the US has been increased five times in 225 years. Interestingly, if we calculate each wage in terms of the current value of money, the current compensation is the lowest in US history.