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I’ve heard - take your annual salary and cut zeros from the end. So if you make 100,000, that would be 1000 a day. 80k, 800/day. Etc
Also accounting for lack of job security. Basically planning to work like 16-20 weeks per year.
So yeah, if you’re 100k salary, I would ask for $1k to 1.2k per day
Here's an easy formula. Take your desired annual salary, divide by 2, then drop a 0. If $100K is your goal, then you want at least $50/hour.
You won't get past the hr screener call if you use Copywriter 1's formula
This math most of you are throwing around is insane. Except for Senior Producer.
You’ve got to understand what your freelance rate would annualize to in order to make sure you’re placed correctly. If your full-time salary cap at your level is $100k you can’t bill freelance rates that annualize to $200k. Everyone understands the matching taxes, insurance, and risk premium that gets built into rates, but not double.
My formula has always been to take my desired yearly salary (say $100k for ease) and divide that by 2,080 (40 hours a week x 52 weeks a year). That number ($48.07) is the hourly rate base. Then look at how much your insurance costs monthly (divide by total hours in a month) and use a payroll tax estimator to figure out what your payroll taxes would be (assuming you aren’t W2), and then figure out what your risk premium is.
All this together and I think $85 an hour is really the max if you’re in that $100,000/year area. And some people will fight you down on it. That doesn’t mean it’s an automatic no.
This is a guide. If you find some fool to pay you more, go for it and keep your mouth shut.
Also: if you are a 1099 freelancer I can not say enough how important it is to go see an accountant at least once at the beginning. The IRS will fuck you up if you’re not careful and that’s not where you want to be
There’s no real formula. Closest I can think of is triple your salary.
So like if you make 70k salary, you charge around 800/day
Remember that ~40% of your take home will ultimately go to taxes (depending on where you live)! So adjust rate accordingly
@SC1 my model is based on your target annual full-time salary and making sure you’re not pricing yourself way out of your level.
When I was a mid-level AD (not that long ago) $650-800 day rates were what made sense and what my agency clients were comfortable paying. I just wanted to put a few things in perspective. If a mid-level copywriter told me his or her day rate was $1200 I’d laugh my ass off. Possibly in their face
And what’s the reasoning there? You’re accounting for lost benefits and for taxes?
Above ^ is what I heard from planners
CD knows what's up. Asking for $1000 or $1200 a day is outrageous, unless you happen to be Jessica Chastain. If you find some dumdum who doesn't recoil at your math, please send them my resume.
eh. idk about strategists but for creatives it's anywhere from $700-$1500/day. i've taken gigs for $700/day but they've been 6-month long projects so it's not bad. i've also had gigs where i make $1200/day but those gigs are 2-3 weeks. i have friends who won't take anything less than a grand a day - and they're just mid-level creatives. cd freelance friends make up to $1600/day. but yeah, they're cds. tbh i think $85/hr is kinda low but if it's a long gig then maybe it's worth it? still, i'd ask min. $100/hr and let them talk you down. but don't expect to even come near that if you're using a third party recruiter. those soul suckers will literally take/steal half of whatever you earn. @senior producer - where do u work? not coming at you at all, just curious.
i agree, $1200 is high for mid-level. it's rare but it does happen. i've never dealt with a cd when negotiating tho, and i've never had anyone laugh in my face, for the record. then again, i've only worked for two aholes