Price My TimeKnow what your work should pay.

Know what your work should pay.

Free calculators to help employees, freelancers, consultants and contractors understand what they should charge, compare different ways of working and price their work with confidence.

  • Free to use
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  • Created for professionals

What do you want to calculate?

See what an hourly or day rate is really equivalent to as an employee salary.

Your details

The rate you have been offered, or the rate you are considering charging.
How many days a week you expect to invoice for.
Weeks you realistically expect to work after holidays, sick leave and gaps between contracts.
Software, equipment, insurance, accounting and other costs you pay as a contractor.
Estimated annual value of benefits you would receive as an employee, such as pension contributions, health insurance and bonuses.
The portion of your contract income that compensates for contract gaps, late payments and the extra risk of contracting.

We don't store your data. Calculations happen in your browser.

Your results

Estimated equivalent salary

$125,000/year

Annual contract revenue

$161,000

Compensation before buffer

$140,000

After removing a 15% contractor buffer

Adjustments

Business expenses $5,000

Employee benefits allowance $10,000

Equivalent employee salary

$125,000

What this means

At $700/day for 5 billable days a week and 46 working weeks per year, you would invoice approximately $161,000 annually. After accounting for your selected business costs, employee benefits and contractor risk buffer, that is roughly comparable to a $125,000 employee salary before tax. This is an estimate based on the assumptions you entered and is not a tax calculation.

Summary of your calculation

Annual contract revenue
$161,000
Business expenses
$5,000
Employee benefits allowance
$10,000
Contractor buffer
15%
Equivalent employee salary
$125,000

Try another calculator

Why a $700 day rate isn't the same as a $182,000 salary

Multiplying a day rate by 260 working days assumes you bill every single weekday and keep every penny. Contracting doesn't work like that.

Unpaid holidays

Every day off is a day you don't invoice — holidays, sickness and public holidays included.

Business expenses

Insurance, accounting, software, equipment and training come out of your rate.

Contract gaps

Contracts end. Weeks between engagements reduce your real annual income.

Lost benefits

Pension contributions, health cover, paid leave and bonuses have real annual value.

Contractor risk

Short notice periods and no sick pay mean part of your rate is compensation for risk.

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