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Double your day job hourly rate. So if you make $100k a year, that's $50/hr, and your freelance rate would be $100/hr. When you factor in benefits (insurance, 4
by acconrad 10y ago
Double your day job hourly rate. So if you make $100k a year, that's $50/hr, and your freelance rate would be $100/hr. When you factor in benefits (insurance, 401k) and the self-employment tax of 15%, plus the cost of downtime to do self-promotion and marketing, it works out to about double your employee rate.
- JamesBarney 10y agoI've always heard that 100k is about $50/hr but I don't think that's right. salary 100k self employement tax + 8k ~ 108k health insurance + 16k ~ 124k 401k match + 3k ~ 127k 3 weeks of vacation and 10 holidays is 47 weeks of work. So ~$2700 per week which is $67.5 per hour (this doesn't include disability/unemployment/life insurance)
- acconrad 10y agoIt's just raw salary divided by 2000 hrs (50 weeks a year * 40 hr weeks). It's obviously never fully accurate for any one person, but that's just how the world calculates something that isn't inherently hourly. If that's what you're worth an hour then double $67.5!