Former Accenture now doing freelancing MC work and actually loving the flexibility. Wondering how you would tackle calculating your daily rate if you were to do the same. Advice much appreciated!

uplifting
Posting as :
works at
You are currently posting as works at

(Desired annual salary/2000) * 2 = Hourly rate (includes extra for benefits, insurance, etc)

helpful

I’d calculate break even and derive the minimum rate that make sense. RATE x (number of work days that you want to work - holidays - sickness and lazy days off) = tax - expenses on accountant - pension - insurance - work related expenses (commute, clothes etc) - lunches at work /client entertainment - food - house/mortgage expenses - bills - hobbies - holidays and other entertainment - contingency fund (in case you loose job or something else happens) - other savings

like

Daily rate = hours worked today * hourly rate

Is this the calculation?

How much do you want to make, add taxes, expenses, etc, then divide by 1248 (60% use) and you get a rate.

Meaning how much would you ask per day if you were to go freelance? Don’t need to anchor it to actual level and salary, just trying to get general advice on factors you would consider to come up with a number

More important question is what’s it worth to the client?

What if you don’t know yet / 1st time client? But I hear you, Accenture 3

Yeah, I get it. But think about what they might pay another firm for it, or think about the value you’ll create for them. If you have differentiated skills you can price it based on value. If you are doing the same work Accenture would then you’d have to price it lower than Accenture - there’s a premium for firms like Accenture because we are seen as too big to fail - if an individual messes up we’ll make it right at a loss to protect the relationship or not get sued. Contractors can’t do that.

Related Posts

Chicago meet up! Anyone free to meet up on Devon street October 22?

like

Hello! I'm in internal HR as a HRBP but am looking to get into HR Consulting in the next 2-3 years. Among the Big 4 Accounting Firms and Big 3 (MBBs), which has the best HR Consulting practice?

like

Do tech roles pigeonhole you? For example, if If you start in non-tech product marketing mgmt for b2c retail, will I get stuck in b2c/retail, and can't switch to b2b cloud or ads later?

like

Has anyone ever done cool sculpting or something similar? Does it work?

like

Hi Novartis people, can any body share the revised pay benchmark (cuz of EPIC pledge) for Manager and Senior Manager/Team Lead roles? Is it to start from this year or if it would be enacted in 2023-2024 cycle

like

What is the best waxing or threading place for eyebrows in Northern Virginia?

like

Me when my manager mumbles incoherently

like

Received ECT AD in ops at BCG. I have two questions:
1. Is it difficult for these roles to get utilization/billability targets?
2. If I work for say 3-5 years, opportunity for good industry exits?

Background - 15 YOE. Currently Director at global firm. I am not looking to become an equity partner and happy to focus on content and interesting work. Main reason to join is opportunity to work and learn from different clients, smart people and good brand. Feedback/guidance/insights welcome!

like

For people who have made a switch in this quarter:

How many competing offers did you guys have?
What percentage of hikes are you getting in this market?

likehelpful

Anybody left FDD /transaction services and joined the federal space, specifically Defense / IC? If so, any tips!

Free negotiation consultation via text and I’ll help with emails and coaching for $$$ and charge 5% negotiation for ICs and 10% for execs.

like

Got a fat cat who has a timed/measured feeder. Still gaining weight. We were all stumped. Turns out my cattle dog shares her food with the cat every morning. Someone recommended a water spritz to get him away from the food. I basically soaked him for a few minutes while he stared at me and continued eating. Looks like I'll have to lock him up while the dogs eat from now on.

Post Photo
likefunnyuplifting

Does LTI provide reimbursement for WFH setup ?

like

Has anyone done a cruise by themselves?
Super single, enjoy traveling alone, but have never done a cruise by myself and don’t know if it would be insanely depressing?
Any advice/tips?

like

Does anyone know how the leveling at Salesforce compares to Google, Amazon etc.? What level would you expect for someone with 10 years experience, masters in eng?

I've taken some weird solace in Churchill's biography. Reminding how to stay calm and focus on what's in your control during times of crisis

like

Has anyone had a client request zoom and virtual house showings?

like

Welcome to our page! I hope you find this a place to relax and discuss your day! As you know, there’s NO joy like a PreK joy and NO exhaustion like the end of our day! Find peace in knowing we’re here

like

When are we supposed to hear back results / next steps from the submission of the intent-to-apply survey?

like

Hey, does anyone work for Jacobowitz Newman Tversky? Would love to know more about the office and culture .

Additional Posts in Consulting

Anyone ever heard of alpha financial markets? Thoughts?

like

Any female 🐠 in San Francisco looking to grab a drink?

likefunny

Deloitte = Slytherin, PWC = Gryffindor, EY = Ravenclaw, KPMG = Hufflepuff

likefunny

Are there non-FAANG companies with comparable compensation & WLB? It seems impossible to break into FAANG.

likefunny

Best consulting firms for strategy in the US besides the big 4 and MBB?

like

Just had the craziest experience avoiding a bully attempt. I think I barely made it out alive (knock on wood)! Still in shock that this kind of stuff actually happens... #chooseyournetworkwisely

like

Joining BCG as a Project Leader soon and am curious what onboarding is like. Is it just at your home office or somewhere else?

like

Need some recommendations for an office chair for around $300.

like

About to board a flight, see a guy with a sweatshirt that says, “I’m a consultant. To save time, let’s just assume I’m never wrong” 😂

funnylike

At what age did money become less important in your life

likefunny

Should have been a flag!🤬

likefunny

Any good podcast recommendations? Topics include mass extinction, ufo/aliens, paranormal, dinosaurs. Helps me sleep

like

What looks worse: leaving your job within 6 months or staying in one for over a year but in a industry/niche that you know you’ll pivot away from fully?

like

Anyone here manage rental properties or airbnbs? How much do you net profit and how many properties?

like

I just signed an offer letter yesterday and today some guy called me about joining his project. Is that normal?

funnylike

What are your top book recommendations? I’m genre neutral.

like

Lateral hire SCs out there. Are you paid less than campus hires? I think I messed up my salary negotiations. Make exactly 20% less than my peers.

like

Book recommendations for new executives?

like

Best SPG/Marriott hotels in downtown NYC? Thoughts on 11 Howard?

like

Every time i get delayed and get home 2-3 am on a Friday, I ask myself why i still have this job

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal