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Free Hourly Billing Rate Calculator

New to freelancing? Let's smash the rates!

In this free hourly billing rate calculator, you can enter all your work and personal expenses. It will automatically sum them up, and provide an estimated rate per hour you can set as a goal.

Remember to enter the amount of hours you want to work monthly and what profit you are aiming at. Of course, each month is different, however, using an average will let you know where you stand in the freelance market.

No matter which field you've chosen and the career you want to pursue, you can use the freelance rate calculator to estimate your preferred freelance rates.

Feel free to experiment with different values to adjust to your perfect lifestyle and dream work. Once you're ready, click on the Calculate Hourly Rate button to get your results.

Free Hourly Billing Rate Calculator

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Q&A Section

① How do I calculate my hourly rate?

To work out your hourly rate, consider your desired yearly income, business expenses and the number of hours you can work billed in a year. Divide your wanted yearly income by the number of billable hours and then add your business expenses to get your hourly rate.

② What is the hourly billing rate?

Hourly billing rate is the amount of money you charge per hour for your services. It shows the worth you give to your time and skills and it is what the clients pay you for the work you do in an hour that you spend on their project.

③ Why charge an hourly rate?

Charging an hourly rate ensures you get fairly paid for the time you spend on a project. It also offers clients a level of transparency about how their money is being spent, and it is good for projects where the scope could change or develop over time.

free hourly billing rate calculator

④ What are the pros and cons of hourly rate?

The benefits of hourly rates are flexibility for you and the client, transparent billing, and the accuracy of time tracking. Yet, the cons are time-tracking disputes, uncertainties about the final costs for the clients, and earning limitations if you can’t work more billable hours.

⑤ Should I charge hourly or day rate?

It depends on the type of your work and your choice whether to charge hourly or a day rate. There may be a better choice of hourly rates for projects with fluctuating workloads or scope changes, but day rates are simple and predictable for longer-term projects where the scope is well-defined.
When considering whether to charge a day rate or an hourly rate, there is no simple right or wrong answer. It will depend on the specific details of the job, the expectations of both parties, the timescales involved and whether you have the flexibility to choose.

⑥ How do you justify hourly rate?

To justify your hourly rate, focus on the value you bring to the client, e.g. your expertise, experience, and the quality of your work. You can also point out the time and resources spent on your skills and continuous professional development. Furthermore, disclose your freelance challenges and the expenses incurred while delivering your services.

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