Pricing is one of the most stressful parts of going freelance, especially when you don’t have a good sense of what the market pays. Too high and you lose the work; too low and you undermine your own positioning and income. Here’s how to arrive at a starting rate that’s grounded in reality rather than guesswork.
Start with what you need to earn
Work backwards from your financial reality. What do you need to earn per month to cover your costs and live comfortably? Add 30–40 per cent for tax, pension, and benefits you’re no longer getting from an employer. Factor in that you won’t bill every working day — 60–70 per cent utilisation is realistic for most freelancers once you account for business development, admin, and unpaid gaps.
That calculation gives you a floor — the minimum day rate that makes freelancing viable. Everything above that is profit.
Research the market
Look at job postings for roles similar to what you do and convert the salary to a day rate (annual salary ÷ 220 working days is a rough guide). Check platforms like Glassdoor and LinkedIn Salary for benchmarks. Ask peers — most freelancers are more willing to discuss rates than you expect, especially in professional networks and communities.
Test and adjust
Your first rate doesn’t have to be your permanent rate. If every client accepts your quote without question, you’re probably too cheap. If you’re losing work consistently, you may need to look at how you’re framing your value rather than dropping your price. Pricing is an ongoing process, not a one-time decision.
The comms rate benchmarking guide below includes a day rate calculator, market rate ranges by experience level and specialism, and a framework for reviewing your pricing annually.