Day Rate Calculator
Calculate your optimal consulting day rate based on your desired income. Factor in taxes, overhead, and billable days to set competitive rates.
Key Features
- Calculate day rate from target income
- Account for non-billable time
- Factor in taxes and expenses
- See monthly and annual projections
- Adjust for billable days per year
- State-specific tax calculations
Hourly Rate
Weekly Hours
Country
per year after taxes
£7,671
Monthly
£1,770
Weekly
£44
Hourly
Gross Annual
£161,000
Gross Monthly
£13,417
Gross Weekly
£3,096
Effective Rate
£47/hr
Google AdSense / Affiliate Banner
About This Calculator
Day rate pricing is popular among consultants, contractors, creatives, and skilled professionals who want predictable project pricing while maintaining fair compensation. Unlike hourly billing, a day rate provides simplicity for both you and your clients.
When calculating your day rate, consider:
A standard day is typically 8 hours of focused work. Your day rate should account for: - Your target annual income - Non-billable time (admin, sales, learning) - typically 20-30% of working time - Self-employment taxes (15.3%) - Business expenses and overhead - Professional tools, software, and equipment - Health insurance and benefits
To calculate your day rate: 1. Determine your target annual take-home pay 2. Add 30% for taxes and expenses 3. Divide by your billable days per year (typically 200-220)
For example, if you want $100,000 take-home: $100,000 × 1.3 = $130,000 needed $130,000 ÷ 220 billable days = $591/day Round up to $600-650/day for cushion
Day rates also offer flexibility. You can complete work efficiently without penalizing yourself, while clients know exactly what they'll pay upfront.
Example Calculations
$100K target income
Day rate: ~$600-650
$150K target income
Day rate: ~$900-950
Standard billable year
200-220 days
Hourly to day rate
Multiply by 8, add 15%
Frequently Asked Questions
Common questions about contractor taxes and take-home pay calculations.
Google AdSense / Affiliate Banner