Day Rate Calculator
Works out the day rate that meets a target income, and the salary it compares with.
Share sends a link that reopens these numbers. Copy details pastes the full breakdown as a list.
The formula
day rate = (income + costs) ÷ billable days equivalent salary = income ÷ (1 + benefits %) matching rate = (salary × (1 + benefits %) + costs) ÷ billable days
The equivalent salary is the one that, with benefits on top, is worth the same as your target income. All figures are before tax.
What to watch out for
Enter the income you want, your business costs and the days you can realistically bill. Use the salary box to see what day rate would match a particular job.
The benefits percentage starts as an example. Tax and payroll rates change and differ by country, so enter the current ones for yours.
Frequently Asked Questions
How do I work out a day rate?
Add your target income and business costs, then divide by billable days. 80,000 of income and 10,000 of costs over 180 days is 500.00 a day.
What salary is a day rate equivalent to?
Take the income left after business costs, then remove the value of the benefits a salary would bring. As an example only, with benefits worth 15% of salary, an income of 80,000 compares with a salary of 69,565.22.
What day rate matches a salary?
Add the value of benefits and your business costs to the salary, then divide by billable days. On the same example, a salary of 60,000 is matched by 438.89 a day.
How much do billable days matter?
The rate rises quickly as days fall. The same 90,000 of billings needs 600.00 a day over 150 days and 450.00 over 200.