Got laid off my full time AD job & trying to pick up freelance but I’m very new to this...

Any advice for calculating hourly rates?? What’s an average range? (For reference: was making ~$75k in NYC)

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Full time annual ÷ 125 = Freelance day rate.

This formula is simple, easy, and works in most scenarios. It’s based on days actually worked. This factors in sick, personal, holidays and vacation days. Then you factor in the burdens of equipment, health and contractor insurances, overhead, et cetera. Then you factor in a freelance premium, which is the agency’s benefit of not being committed to you.

Divide the day rate by 8 or 10 to get your hourly, depending on how long you think your days will be. So you should charge between $60–75 hourly as a freelancer, if you’d normally make $75K fulltime for the same work.

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I am looking to hire a freelance AD on a month to month basis. For social creative is this something you would be interested in?

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Piggybacking on that "salary÷125" formula (which is totally solid) I wanted to point out that making 75/year is too low for the NYC market. I'd look into the average salary for your level and then ÷125.

But also, freelance is on the thinnest ice right now. I was freelancing for a year and now took a full-time job because there's just nothing out there. Might just be me though.

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My advice: Don’t do a calculation or use a formula. Find out the going rate for freelance at your level in your market.

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