How much is an hour of your time worth?
Finally, divide your total money earned (Step 2) by your total time spent (Step 1).
For example, let’s say you spend 2,500 hours per year earning money: If you make $12,316/year, your time is worth $4.93/hour.
This is the 2014 poverty line for an individual in the United States..
How do you price your work?
Calculating your labour cost using an hourly rateWrite down the annual salary you want/need to earn. … Minus the number of holiday weeks you want each year from 52. … Divide your desired salary by the number of weeks you can work. … How many hours do you want to work each week? … That’s your hourly rate.
How do you calculate charge per hour?
Divide the total by total chargeable hours per year to arrive at a charge-out rate. This is the price per hour you charge customers.
How much should I charge for my time?
If you’re scared about charging too much at first, even simple pricing strategies can work: charging $1 is better than giving it away for free. Some examples of the price point you can start with: If you’re a graphic designer, start your rate at $25-50/hr. If you’re business consultant, start at $50-80/hr.