Free Tools and Apps to Calculate your Hourly Rates
This post will explore a couple of tools that will allow you to intelligently assess your situation and determine the amount you should charge per hour to be able to survive and meet your financial needs.
For Illustrators there are books that come out annually to let you know the going rate for varied types of illustrations in various industries. The prices and fields of illustration covered in these books is updated on a year to year basis.
The book we decided was Essential to this was reviewed by us some time ago in this post. The Graphic Artist’s Guild Handbook of Pricing and Ethical Guidelines. Be sure to check it out for a guide on how much to charge on a project by project basis.
For a guide on how much to charge by the hour we have two tools that basically serve the same function.
1. We have the Freelance Switch Hourly Rate Calculator.
This calculator takes into account your Personal Costs as well as your Professional Ones. You manually enter his information and based on your input it tells you how much you should charge per hour. This calculator is available online for free and will take you around 10-20 minutes to fill out.
2. We also have a newly released FREE app that performs a similar function in calculating hourly rates. It’s called the MyPrice App. It performs in much the same way as the Freelance Switch Hourly Rate Calculator but takes additional information into account for it’s calculations. A great tool to have on the fly to calculate how much you should be charging per hour or per project.
Both of these tools are free and available right now through the links provided above. So snatch em up and see if you’ve been charging too little or too much. (If too much then keep it to yourself and keep charging! More power to ya!)
One of the great things about the tools listed is that they figure in your cost of living, materials, accounting fees and many other business costs that most don’t think about when coming up with their prices. Let these tools teach you even more about what the value of your work really is.