Formula applied
The exact method behind this answer
CalculationTime keeps the method visible so the number can be checked instead of blindly trusted.
Base hourly rate = target income / (billable weeks x billable hours). Recommended rate = base rate x (1 + overhead percent / 100) x (1 + profit buffer percent / 100).- Apply the formulaBase hourly rate = target income / (billable weeks x billable hours). Recommended rate = base rate x (1 + overhead percent / 100) x (1 + profit buffer percent / 100).$67.83/hourBase $43.48/hour; after overhead $56.52/hour; daily rate about $2,713.04.