Freelance Rate Calculator

Formula

The formula to calculate your Freelance Rate (R) is:

\[ R = \frac{DS}{H \cdot W} \cdot 1.30 \]

Where:

$ R $ is your hourly rate (\$/hr).
$ DS $ is your desired yearly salary (\$).
$ H $ is the average hours worked per week.
$ W $ is the number of weeks worked per year.
1.30 is a 30% factor for expenses.

Freelance Rate Definition

A freelance rate is an hourly monetary fee charged to a customer for freelance work performed by someone providing a service. This rate is typically expressed as \$/hour of work.

Example Calculation

Consider an example where:

Desired Yearly Salary (DS): $50,000
Average Hours Worked Per Week (H): 40
Number of Weeks Worked Per Year (W): 48

Using the formula to calculate the Hourly Rate:

\[ R = \frac{50000}{40 \cdot 48} \cdot 1.30 \approx 33.85 \text{ \$/hr} \]

This means that the hourly rate for this example is approximately $33.85/hr.