Simple Freelancing Rate Calculator

I have been asked multiple times in the past how to determine your rate for freelancing. There are a number of factors to consider, but this calculator is the basis of how I’ve calculated my rate in the past.

This calculator can work for any industry. However, keep in mind that market forces determine the rate you will actually be able to fetch for your work. If you are good at what you do, setting that “desired salary” number to whatever you want is not out of the question!

Good luck and let me know how I can help. Go back home.

Freelancing Rate Calculator

Enter your desired annual income*
How much money you want to bring home per year.
How many hours do you want to work per week?*
Enter your desired days off (per year)*
Number of days per year you will not work. Include sick days, vacation, and holidays. There are usually 10 holidays, and 10 days of vacation and 5 sick days, meaning 25 days off.
Will you work on Saturday?
- Yes
- No
Other jobs
Will you work other jobs?
- Yes
- No
Enter your annual income from other jobs
How many hours per week will you spend at the other jobs?
Business expenses
Taxes (percent of revenue)
DON’T TOUCH THIS. YOU MUST SAVE ABOUT 25% OF YOUR REVENUE FOR TAXES. This money should be set aside, paid to the government quarterly, and never touched. Political feelings aside, IT DOES NOT BELONG TO YOU. I know so many freelances who have shipwrecked their business by failing to save this amount.
Enter your business savings (percent of revenue)
“Retained earnings” for new equipment, larger expenses, and business opportunities
Enter your monthly expenses*
Office rent, internet, cell phone, software / service subscriptions, coffee, etc.
The calculations!
Annual freelance income needed
(Desired income – income from other jobs = Freelance income needed)
Gross Freelance Revenue Required
The amount you need to invoice, each year, in order to cover taxes, expenses, savings, and pay yourself your desired salary. Bigger than you thought, eh?
Work days per week.
Depending on whether you work Saturday’s or not.
Work days in the year
(52 weeks * days/week – days off)
Billable freelance hours / day
80% of your weekly freelance hours, divided by number of days.
YOUR HOURLY RATE
Gross revenue required, divided by total freelance hours per year.
Send yourself the results!
Email*
Phone
This field is for validation purposes and should be left unchanged.

Simple Freelancing Rate Calculator

Freelancing Rate Calculator

Other jobs

Business expenses

The calculations!

Send yourself the results!

Comments

One response to “Simple Freelancing Rate Calculator”

Leave a Reply Cancel reply