Your hourly rate
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Formula used
Hourly rate = (Target income + Expenses) / (Hours per week x 50 weeks x Billable%)
Uses 50 working weeks to leave room for holidays. Only billable hours earn money, so the billable percent matters most.
Frequently asked questions
Why does the billable percent matter so much?
Admin, marketing, proposals, and learning do not pay by the hour. Most freelancers bill between 50% and 70% of their working time, so only that share earns money.
Can I use this outside the US dollar?
Yes. Enter your own numbers: target income, expenses, hours per week and billable percent. The formula works in any currency, since it is pure math.
How do I justify my rate to a client?
Yes. Copy your rate with the button on the page, then show the client the formula behind it: target income plus expenses, divided by real billable hours. Clients respect math.
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