$58/h is about 120k for a Linux Admin in Pasadena, the median income for such a position (according to salary.com). I guess it's not horrible, especially with overtime (is it 1.5 times?)
That said, with about ten years of experience in the financial sector, the median jumps to 150k, with higher brackets going to 200k+
CyklonDX makes a good point - either lower experience requirements and find a talented but inexperienced fresh grad and train them, accept a 100% remote employee from another state or just keep on wishful thinking, and maybe you will get lucky. Who knows - the job sounds interesting enough to me, but alas I'm neither an experienced Linux admin nor live anywhere near LA.
p.s:
Also don't forget that in the last three years inflation went up over 15%, so 120k today is the same as 102k only three years ago.