A consulting company is asking how much my hourly rate is to help them. How does one determine such thing? Divide my current annual salary by the number of work hours in a year? Please help advise

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Yep, then tack on another 50%.

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(salary/1800)*1.5 is my formula for my hourly, and *10 for my day rate.

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Thanks so much, everyone. Was afraid I would get sarcastic or funny comments. But these are super helpful.

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Divide by 1000 - math is nice and easy. remember you’re paying taxes at a higher rate, computer, internet, etc

if you’re freelancing full time - you need to factor in benefits, insurance, the fact that you’re not working the entire time, etc.

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Make it up

Don’t divide your yearly salary, that is bad advice. Go off of the rate card. The agency is going to charge the client between $125-$250 an hr for your time depending on experience level. So leave some margin for them. If you are jr-ish, $75hr. You an OG.... go for $175. As a producer I only get complaints from mgmt if I attempt to pay out higher than $150 an hr.

Some odd maths / advice in this thread. Your billable rate is likely to be up to 2.4x your salary rate. But why is the consulting company asking the account dept and not the finance dept?

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