Freelancers – How much should you charge?
You don’t want to undersell yourself but you don’t want to put off potential cliets by pricing yourself out of their budget range. So, how do you work out what to charge your clients?
That’s a difficult question to answer for the budding freelancer and I discuss it in my Managing Web Projects ebook but it is a bit complicated and a bit of a horrible formula to work out your hourly rate (and please excuse me it’s been a while since I’ve done algebra and brackets confuse me ):
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((H X D) X 52 ) – DO)
Where:
E = Earnings
T = Tax Rate
OU = Outgoings
PM = Profit Margin
H = Hours Worked A Day
D = Days Worked a week
DO – Days off per year
Er….. Right. I’m confused now as well!
I’ve given an example of this formula at work when I wrote about Managing Web Projects #4 – The Quote but even so, it’s a bit of a handfull isn’t it?!
Because none of us want to go through the terror of trying to work that little lot out (especially as I’m bound to have put a bracket in the wrong place somewhere I present The Hourly Rate Calculator.
Simply fill in your desired earnings, outgoings and a couple of other bits and voila! There’s what you should charge per hour.
You can all thank me later
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