Estimate an hourly and daily freelance rate from your income goal, business costs and realistic billable time.
This is a planning estimate, not tax advice. Your actual rate may also need to cover benefits, insurance, software, unpaid administration, payment fees, market conditions and other costs.
A freelance rate calculator helps estimate how much you may need to charge for billable work to support a target personal income while also covering business expenses and a reserve for taxes or other obligations.
Freelancers often spend part of their working time on administration, marketing, proposals, accounting and other tasks that cannot be billed directly to clients. Using realistic billable hours can produce a more useful rate estimate.
The calculator first combines the target personal income with annual business expenses, then adjusts the required revenue for the selected reserve percentage. That annual revenue target is divided by estimated billable hours for the year.
The daily estimate multiplies the calculated hourly rate by your chosen billable hours per day. Actual project pricing may differ depending on scope, experience, demand, risk and the value of the work.