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I'm not currently billing for contract work, but when I was my formula was: rate = YearlyGoal / 1700 Which is to say, 2000 hours at 85% billable (leaving
by kator 4y ago
I'm not currently billing for contract work, but when I was my formula was:
rate = YearlyGoal / 1700
Which is to say, 2000 hours at 85% billable (leaving time for vacation).
Some years I was 105% billable but those are brutal years and I'm sure my life will be shorter for it.
- kijin 4y agoYou must have been pretty good at billing every single hour you spend on your clients. I was once told that it's unwise to expect to bill more than 50% of the time I spend, so I've been sticking close to $target_income / 1000 for the last few years. The actual ratio of billable to unbillable hours probably depends a lot on what kind of contracts you get and what type of work you do.