Hourly Rate Calculator
Calculate your ideal hourly rate or annual income for freelance and consulting work
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Work Schedule
Add a profit margin to cover taxes, savings, and unexpected costs
Recommended Hourly Rate
$0.00
per hour
Weekly Income
$0.00
Monthly Income
$0.00
Billable Hours Summary
Hours Per Year
0
Hours Per Week
30.0
Rate Breakdown
Desired Income$50,000.00
+ Business Expenses$5,000.00
+ Profit Margin (20%)$11,000.00
Total Annual Target$66,000.00
How to Use the Hourly Rate Calculator
Our free hourly rate calculator helps freelancers, consultants, and contractors determine the right rate to charge for their services. Whether you are starting out or reviewing your rates, this tool accounts for all the factors that affect your true earnings.
Two Calculation Modes:
- Calculate Rate: Enter your desired annual income and let the calculator determine what hourly rate you need to charge
- Calculate Income: Enter your hourly rate to see your potential annual, monthly, and weekly earnings
Factors Considered:
- Business expenses (software, equipment, insurance, etc.)
- Time off (vacation days, sick days, personal time)
- Realistic billable hours (not all work hours are billable)
- Profit margin for taxes, savings, and growth
Tips for Setting Your Rate:
- Research market rates in your industry and location
- Account for non-billable time (admin, marketing, learning)
- Include a buffer for slow periods and unexpected expenses
- Review and adjust your rates annually