Freelance Rate Calculator

Hi Everyone,

A few months ago my team and I built a Freelance Rate Calculator for those struggling to determine their hourly rate. It's free to use - and no signup is required.

Best,

C

http://www.freelancebusinessguid...

  • Brilliant! I filled out all the fields on this form and ended up with a rate that covers all the expenses. It took only a couple minutes. Thank you for this very useful tool.

  • Hi Carol,

    Awesome - that makes me smile! I'm glad it was of value.

  • I think this is a good start, but misses a really big expense for freelancers: taxes. Particularly self-employment tax.

  • This is a very cool tool. My current rate is a bit higher than what it suggest which is nice to know. I do agree with Robin that it would be better if it included taxes, but its still great as is. Thanks.

  • Thank you so much for sharing this!

  • And I discovered I have been charging twice what I need based on the calculator, and my clients happily pay it. I estimated the billable hours off the top of my head, so I don't know how accurate that is. But my overhead is really low, as is my health insurance because I have a disability and thus qualify for low cost Medicaid. And because of my disability, my goal is to work only 25 hours per week maximum and I entered 100 personal/sick days (I never know when things are going to get really bad health-wise). I was very surprised by the results. This was a very illuminating tool!

    (And amusing: on my expenses there were quite a few entries I forgot to set as yearly rather than monthly, so I was SHOCKED when I saw the expense total! Whoops.)

  • Robin,

    That's a really good point. I may look to build the tax calculation into the formula to provide a more accurate picture of a freelancer's net income.

  • Katie,

    I'm happy to hear you found the tool valuable.

    I find that being realistic, and even under estimating the amount of hours you work, creates a margin of safety in estimating what you'll earn.

    And, yes, those expenses will look astronomical if the monthly option is selected as opposed to the yearly option.

  • Brilliant! I filled out all the fields on this form and ended up with a rate that covers all the expenses. It took only a couple minutes. Thank you for this very useful tool.

  • Hi Carol,

    Awesome - that makes me smile! I'm glad it was of value.

  • I think this is a good start, but misses a really big expense for freelancers: taxes. Particularly self-employment tax.

  • This is a very cool tool. My current rate is a bit higher than what it suggest which is nice to know. I do agree with Robin that it would be better if it included taxes, but its still great as is. Thanks.

  • Thank you so much for sharing this!

  • And I discovered I have been charging twice what I need based on the calculator, and my clients happily pay it. I estimated the billable hours off the top of my head, so I don't know how accurate that is. But my overhead is really low, as is my health insurance because I have a disability and thus qualify for low cost Medicaid. And because of my disability, my goal is to work only 25 hours per week maximum and I entered 100 personal/sick days (I never know when things are going to get really bad health-wise). I was very surprised by the results. This was a very illuminating tool!

    (And amusing: on my expenses there were quite a few entries I forgot to set as yearly rather than monthly, so I was SHOCKED when I saw the expense total! Whoops.)

  • Robin,

    That's a really good point. I may look to build the tax calculation into the formula to provide a more accurate picture of a freelancer's net income.

  • Katie,

    I'm happy to hear you found the tool valuable.

    I find that being realistic, and even under estimating the amount of hours you work, creates a margin of safety in estimating what you'll earn.

    And, yes, those expenses will look astronomical if the monthly option is selected as opposed to the yearly option.