For those of you starting out as personal historians, determining an hourly rate can be problematic. This is especially true because it’s a profession that has no set fee structure. But the other day I discovered this free hourly rate calculator at FreelanceSwitch. Here’s what they have to say:
We have developed this hourly rate calculator to give you a guide based on your costs, number of billable hours and desired profit. It is a simple tool for you to play with.
Remember your hourly rate should always take into account factors like market demand, industry standards, skill level and experience – things that unfortunately we can’t put into a calculator! Use these calculations as a guide and then modify to suit your circumstance and conditions.
It will take you about 5-20 minutes to complete depending on how much attention you give each calculation.
My experience with the calculator suggests that it’ll take you longer than 20 minutes. In order to get a good hourly rate estimate, you need to have at hand a detailed list of business expenses such as rent, travel, communications, and software, etc. As well, you’ll need a breakdown of your personal expenses.
Remember it’s just a guide. But I think you’ll find that it’s a useful tool in determining what rate you need to charge. Check it out here.
Photo by Diego
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