Freelancer day rate calculator
Freelancers cannot bill every day, since some go to sales and admin. This works out the day rate that covers your income and costs from billable days only.
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How to use it
- Enter target annual income, annual business expenses, working days available per year, billable share of time and billed hours per day.
- The result appears straight away and updates as you edit.
- Copy the result, or copy a link that keeps the same values to share it.
How it is calculated
Billable days = working days × billable %. Day rate = (target income + expenses) ÷ billable days. Hourly rate = day rate ÷ hours per day.
Example
Inputs: Target annual income = 120,000, Annual business expenses = 20,000, Working days available per year = 220 days, Billable share of time = 75 %, Billed hours per day = 8 h. Result: Day rate: 848.48; Hourly rate: 106.06; Billable days: 165 days.
Limits and caveats
- Your target income should include any tax or insurance you pay yourself.
- It does not know market rates in your field, so compare the result with them.
Questions about this tool
What billable share is realistic?
Many freelancers bill 60% to 80% of their time; the rest goes to sales, email and learning. Start from your own track record.
How many working days are in a year?
After weekends, public holidays and leave, usually 210 to 230. Take off expected sick days too.
Why is the rate higher than a similar salary?
You cover your own costs and unpaid days, and nobody pays your leave or insurance.