Freelancing

Freelance Rate Calculator

Enter your expenses, desired income, and working hours. Get your minimum hourly rate, project pricing formulas, and rate increase scripts.

By The Prompt Black Magic Team

Fill in your financial details and career info. Get data-backed pricing you can confidently present to clients.

Help me calculate my freelance rates so I am not undercharging.

My details:
- Desired annual income (what I want to take home): $[AMOUNT]
- Country/city: [LOCATION, for cost of living context]
- Specialty: [YOUR FREELANCE SKILL]
- Experience level: [BEGINNER / INTERMEDIATE / EXPERT]
- Hours I want to work per week: [NUMBER]
- Weeks of vacation per year: [NUMBER]

My business expenses:
- Software and tools: $[MONTHLY]
- Health insurance: $[MONTHLY]
- Retirement savings: $[MONTHLY]
- Taxes (estimated bracket): [PERCENTAGE]
- Equipment, internet, workspace: $[MONTHLY]
- Other: $[MONTHLY]

Calculate:
1. My true hourly rate (factoring in only billable hours, which is typically 60-70% of total work hours since the rest is admin, marketing, and learning)
2. My minimum project rate formula for different project types
3. Value-based pricing guide: when to charge by value instead of time, and how to calculate it
4. Package pricing examples: how to bundle my services into 3 tiers
5. Rate comparison: where my rate falls compared to industry averages for my skill and experience
6. A rate increase script I can use with existing clients
7. How to justify my rates when a client says "that is too expensive"
8. When to take lower-paying work strategically (portfolio building, referral potential) vs. when to walk away