Description

Working out your day rate is one of the first things you need to do as a freelance freelance consultant, and one of the things most people get wrong. This spreadsheet takes the guesswork out of it by building the calculation from your actual numbers: what you need to earn, how many days you’ll realistically work, and what your costs are.

How to use this

Start with the income tab. Enter your target annual take-home pay, then add your costs: tax and National Insurance, business expenses, professional memberships, software, and any other regular outgoings. The spreadsheet calculates the gross income you need to earn to hit your net figure.

Move to the working days tab. Enter your total working days in the year, then subtract holidays, sick days, and the time you’ll spend on non-billable work (admin, business development, CPD). The result is your realistic billable days. Divide one by the other and you have your minimum day rate.

The minimum rate tab shows you three scenarios: your minimum viable rate, a comfortable rate with a buffer, and a target rate that accounts for growth. Use these as a range rather than a single figure.

What’s included

• Editable Excel workbook (.xlsx) with income, costs, working days, and rate calculation tabs
• PDF reference version

Who it’s for

Anyone setting up as a freelance freelance consultant, or reviewing their rates after a year or more of independent work.

Before you download

• The calculator works from your specific numbers. Have your target income and a rough sense of your costs ready before you start.
• After downloading, you will find both files in your account.
• You are getting a licence to use this and adapt it for your own work. You cannot sell, redistribute, or share it with others.