Finance
Freelance Rate Calculator
Find the hourly rate a freelancer needs to hit a target income after expenses and time off.
The required hourly rate tells you the hourly charge that covers the target income plus expenses over the billable hours entered.
Formula
Required hourly rate equals target income plus expenses, divided by billable hours.
How it works
Only billable hours count — admin, marketing, and downtime are unpaid, so using total working hours would underprice you. Raise the target to cover taxes and a buffer.
Worked example
For example, ($60,000 + $6,000) ÷ 1,000 = $66.00 per hour.
FAQs
Why not use 2,000 hours?
Freelancers rarely bill every working hour; 1,000–1,200 billable hours is common.
Should tax be in the target?
Yes — set the target as the after-tax income you need, then add tax on top, or include it in expenses.
What if work is project-based?
Multiply the hourly rate by estimated project hours to quote the project.
Are these figures financial advice?
No — they are estimates for planning only, not financial advice. Check with a qualified adviser for decisions involving large sums.
Estimates only, not financial advice. Figures are approximate and do not include all fees, taxes, or changing rates unless stated.
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