Hourly Rate Calculator
An easy to use calculator to help you find out how much to charge as a freelancer.
How much is your time worth?
Use this free Freelance Hourly Rate Calculator to find out how much you should be charging per hour.
If you’re looking to work out your salary or take-home pay and just know your hourly rate, Fill in the form below, and the Hourly Rate Calculator will give you an estimated fee of what you ought to charge in view of what you give.
If you haven’t already ready you might want to also check out this incredible article about How to Calculate Hourly Rate.
A Step-by-Step Guide to Calculating Your Ideal Hourly Rate
Determine Your Base Hourly Rate
Start with your current annual salary before taxes. Decide how much of an increase you want—either as a percentage or a fixed amount. Then, estimate how many weeks and days you’ll work each year. Use this to set your base hourly rate.
Include Work Hours and Time Off
Calculate your average working hours per day and how much of that time is billable. Include any vacation days, holidays, and sick days. This will help you understand your effective working hours.
Calculate Essential Expenses
List your essential business expenses, like office rent, travel, communication costs (phone, internet), and any necessary subscriptions. Add these costs to your hourly rate calculation.
Include Additional Expenses
Include other freelance-related costs that haven’t been covered, such as professional memberships or additional tools. This ensures you’re not missing any expenses.
Cheers to Your Ideal Hourly Rate!
Based on the information you’ve provided, your calculated hourly rate reflects the amount you should charge per hour to cover all your expenses and meet your income goals. This rate is designed to ensure you account for both your business costs and desired income.
Why Use an Hourly Rate Calculator?
For some, discovering their hourly pay rate is as straightforward as taking a gander at their most recent pay stub. However, in the event that you’re a salaried bonafide employee or are a self-employed freelancer, calculating your Hourly Rate takes a little effort. That’s why ApproveMe has created this Freelancer Hourly Rate Calculator. You can Calculate Your Hourly Rate based on one single project, a specific amount of time, or a desired annual salary. In the case of calculating a desired annual salary, you can easily include variables such as office rent, travel, and other expenses to get a more accurate hourly rate.
Step three makes it easy for you figure out the number hours you can really charge customers and factors in things like vacation days, sick days, and holidays. The last step requests that you assess how much profit you want to make every year. Once you’ve factored in every one of your line item expenses, the Hourly Rate Calculator generates the suggested Hourly Rate you have to earn back and additionally what your optimal Hourly Rate is to achieve your financial goals as a freelancer.
It goes without saying, what you actually charge your customers will rely on a few different factors, such as your professional 9and relevant) experience, your target market, etc. However, this free tool for freelancers is an incredible launching pad for making sense of how to charge individuals what you’re worth while being confident that you are covering your monetary bases.
How to use an Hourly Rate Calculator
Calculating your Hourly Rate is a breeze with this free tool. The Hourly Rate Calculator by ApproveMe, will help you see exactly how much you should be charging your clients. Are you wondering what your yearly salary is? Interested in becoming a freelancer or possibly finding a new job? Enter your unique real life details in the hourly rate calculator above, including the desired quantity of hours worked every week into the “Week by week Hours” box. Tally up your bills and expenses and we will tell you exactly how much you should be charging per hour.
You can utilize this Freelance Hourly Rate Calculator in two unique courses: both as an basic freelance rate calculator to discover the base charges you have to charge your clients to achieve a set profit objective, or a propelled freelance hourly rate calculator to represent more factors, for example, reserve funds objectives and everyday costs.
This freelance rate calculator is intended to help you calculate the minimum freelance rates you need to charge to achieve your financial independence goals. Bear in mind to add a premium price if you have extra experience or job training than most freelancers in a specific area or field, each rate is different and 100% unique to you and your unique offering.
