You need to know how to calculate the hourly rate for your freelance work because you need to know the minimum amount you should charge to avoid losing money.
After the lines above, it seems easy to deduce that your hourly rate is different from that of any other colleague in the sector because your expenses are not the same.
Maybe you pay more for your motorcycle insurance than he does, since he doesn't have any and always takes the subway.
It is a mistake to try to lower prices russian virtual mobile number because your competition is cheaper than you.
Everyone needs a minimum income, and it is probably different.
Some entrepreneurs even recommend setting high prices from the start of your business.
Either way, don't worry if you get the price wrong and ignore the advice of everyone who has been where you are.
We have all calculated the hourly rate of our work and changed it several times because we made a mistake.
What is the formula to calculate the hourly rate of your work if you are a freelancer?
We now have the values that will define the formula to know the price of your hour.
Write it down:
Freelance hourly rate formula
The price of the hour of work is the result of adding the salary and the fixed costs and dividing it by the hours worked minus the unproductive hours.
However, if you want something more convenient than using basic mathematical operations, Laura López has designed a landing page where you can enter your values and her calculator does it automatically.
Please refer to it if you want to get a value more quickly.
Should the hourly rate of your work always be the same?
Of course not.
In this post and with the formula above we have calculated a minimum value to meet your business plan and improve your search engine positioning .
But each project and each client have a different difficulty of implementation and development.
My recommendation, therefore, is that based on the minimum value of your hourly work, you design a pricing strategy that meets the stages your business will go through.