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Hourly Rate Calculator
Ever wonder what your absolute hourly rate would have to be in order for you to pay for all of your business *and* personal expenses with only your business to bring in the income? Well, wonder no more!
Here is a really wonderful hourly rate calculator that is a straight forward, plug-in some numbers and and hit the “calculate” button to help you come up with not only your hourly rate for a profit but also your “break-even” hourly rate as well. In other words, the minimum you could earn per hour in order to just break even and not see any profit. No profit = no business. No business = no quitting your day job. Simple equations for difficult obstacles indeed.
From the FreelanceSwitch.com/rates web page:
What is This?
We have developed this hourly rate calculator to give you a guide based on your costs, number of billable hours and desired profit. It is a simple tool for you to play with.
Remember your hourly rate should always take into account factors like market demand, industry standards, skill level and experience – things that unfortunately we can’t put into a calculator!
This is an eye opening and sometimes fear inducing concept for many creative entrepreneurs. After all – if you knew how much you *should* be making, then you would pretty much have to figure out a way to get your hourly rate to the place it needs to be, right?
without fear by sam UL via Flickr
You can do it. I believe in you!
So tell us: Have you used a rate calculator like this before? Did you agree with the results?
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