Freelance Rate Tool

Stop guessing your rates. Calculate exactly what you need to charge to hit your targets.

Analysis Dashboard

Live projections based on your current inputs.

Required Hourly Rate $0.00
Daily Rate (8h) $0.00
Monthly Billing Target $0.00
Rate Analysis
To hit your Goal with expenses and taxes, you need to bill approximately ... per hour.

Gap Analysis: This is ... above/below a standard $50/hr benchmark.

What Should I Charge as a Freelancer?

The biggest mistake new freelancers make is setting rates based on what feels comfortable to ask for, or mirroring a previous salary. Neither works. Your freelance rate must cover your desired take-home pay, all business expenses (software, equipment, professional development), self-employment taxes — which are 15.3% on top of income tax — and the 20–40% of your time you spend on non-billable work like proposals, admin, and marketing.

Use this calculator to work backwards: start with the income you need, add your costs, and divide by your realistic billable hours. The result is your minimum viable rate — the floor below which you lose money. From there, market research tells you how high you can go.

How to Set Freelance Rates

Setting your freelance rate is a balance between your financial needs and market value. Many new freelancers fail because they set their rates based on a previous salary, forgetting that as a freelancer, you must cover your own health insurance, equipment, taxes, and "non-billable" time (admin, sales, learning). Use this calculator to work backwards from your desired lifestyle to find a sustainable hourly or daily rate.

Related Tools

Side Hustle Profit Calculator Self-Employment Tax Calculator Side Hustle ROI Calculator

Frequently Asked Questions

What is a good billable efficiency?
Most full-time freelancers aim for 60-80% billable efficiency. The other 20-40% of your time is spent on marketing, bookkeeping, and professional development.
Should I charge by the hour or per project?
While project-based pricing is often more profitable for experienced freelancers, you still need to know your hourly \"floor\" (calculated here) to ensure projects are actually profitable.
How often should I raise my rates?
Review your rates at least once a year or every time your schedule is consistently full. Increasing your rates by 10-20% periodically is standard practice as you gain expertise.