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Completely disagree with VP1. Those numbers are way too high. Where are you getting the 1000 number? And 50, for that matter? There are 2080 billable hours in a year. If anything, use 2000 as a starting point for ease of simplicity. Freelance markup is typically 30%.
Been freelancing off and on in NYC for 20 years.
Divide by 125 to get your day rate. Divide that day rate by 10 to get the hourly (have you ever consistently worked only 8-hour days?) You could try for dividing by 8 if it helps with negotiation, but you’ll usually see real numbers closer to the 10.
$100K fulltime annual is $800/day freelance, $80/hour.
$150K = $1200/day, $120/hour.
$200K = $1600/day, $160/hour.
$250K = $2000/day, $200/hour.
And remember to not offer significant discounts. It will be almost impossible for you to get back to your typical rate. Not only will you come out ahead in the long term but you will also support career freelancers, like CD1, who will be appreciative of that.
Hourly Rate: Take your salary [or what you would make] - divide by 1000 and add 50%.
$100K annually is $150 per hour.
$150K is $225 per hour
$200K is $300 per hour.
Some people round up more than that. Others less. This seems to be the average.
Day rate is 8 times the hourly.
Whatever you charge, don’t offer any substantial discount. Especially in today’s times. You need to look out for yourself and don’t do them any favors. Don’t allow the agency to take advantage of you financially. Your costs are not going down.
$900 minimum. Don’t think your level should charge more than $1000. Never discount. Get paid for every day.