You love being your own boss and you also love the freedom that being a freelancer brings but you probably have the question the back of your mind - what should I be charging my clients?
I'm Spencer X Smith from [ Ссылка ] and in 60 seconds you will learn how to calculate your hourly rate as a freelancer.
If this was your only job, how much would you like to make per year? Divide that annual salary by 40 hours a week, then divide by 52 weeks a year, and multiply it by 2.5 for overhead.
For example:
You aim to make $100,000 per year / 40 hours a week / 52 weeks in a year X 2.5 = $120.19
You would then charge $120.19 per hour
WARNING: This formula assumes you will take no vacation. If you plan on taking a vacation (or two!), then simply subtract the number of vacation week(s) from 52 and use that new number.
Also, why do I have you multiply by 2.5 overhead? Here’s why, time worked - does not equal the time you can actually bill to clients. There's a lot of non-billable time that we refer to as Overhead. This includes travel, administration, billing, and business development.
Thank you so much for watching this video and if you have any ideas or any questions, please enter them into the comment sections below. Also, before you leave, please push that big red Subscribe button to be sure to subscribe to my channel so I can keep these videos coming your way.
If you find my tips to be of value - sign up for my emails on my website [ Ссылка ] and get tips, tricks, how to’s and videos sent straight to your inbox on topics that matter to you. Thanks and have a great day!
