Putting a price on your work (and your time) is tough, especially when you’re starting out. This hourly calculator will help you create a pricing framework for yourself as you continue on your freelance journey. Let’s get going!
What are your estimated annual expenses?
This is the amount of money you spend to live: rent, insurance, software, bills, travel, groceries, and anything else that has you reaching for your wallet!
What is your desired profit margin?
If your annual expenses are how much money you need to live, your profit margin is how much money you want to have leftover. A 25% profit margin is a great starting place!
How many days per year do you work?
There are typically about 240 working days per year, but don’t forget to account for your vacations and holidays!
How many billable hours do you work per day?
Billable hours can include client and project management, but do not include invoicing, bookkeeping, tax management, and general admin.
Shameless plug: Wingspan handles all your non-billable tasks for you so you have more hours in the day to make money!
When it comes to pricing yourself, think of this number as the floor, not the ceiling. This is the absolute minimum you should value your time at. Our goal is to give you a place to start based on your lifestyle and work structure, but keep in mind that this calculator doesn’t take into account experience level, industry, or nuances in scope. Use this as your frame of reference for quoting clients an hourly price or when calculating a monthly or project-based rate.
Wingspan is the smartest way to work for yourself. Our all-in-one platform offers the best solutions for invoicing, bookkeeping, taxes, perks, and so much more. Want to learn more?