Freelance & Contractor Rate Setting: 4 Steps

Convert target annual salary into hourly billing rates, calculate gross profit, and estimate savings.

1

Convert Target Salary to Base Hourly Rate

Find baseline hourly rate from annual target.

2

Calculate Project Burn Rate & Runway

Monitor budget consumption rate.

3

Measure Revenue Per Employee / Contractor

Track output efficiency per team member.

4

Calculate Net Savings Rate

Ensure income supports personal savings goals.