Monday, February 23, 2015

A formula for computing your hourly rate as a consultant

Let S be your regular monthly salary and your work is forty hours per week, then your hourly rate HR can be computed as:

   HR = 2.5 x (S / 160)

For example, if your salary is 12,000.00 PhP, your hourly rate is

= 2.5 x (14,000.00 / 160)
      = 218.75 PhP

Now, let's say you have a website development project that you estimate will take one month (at 160 hours per month), you can charge your client 35,000.00 PhP.