Tips on use of the calculator
The calculator below will give a rough idea about the hourly rate to charge (See disclaimer below). For the amounts of money over 1000, do not use a comma (e.g., 1,000) and do not enter a dollar, Euro or other currency symbol. If you enter numbers using a comma, you may get an error message.
If you are not already working as a consultant, you will have to give your best guess about the hours, billable and non-billable that you might have. The calculator will give you the opportunity to play “what if?” with the numbers. The calculator will automatically when you put in a new number. At the bottom of the calculator is an “Update” button in case the data do not automatically update, and also a “Reset” button that will clear all of the data entered. It allows you to factor in a profit margin. The default is set at 10% and can be overwritten. You may need additional money to expand your business or for other reasons. Where there is not a specific box, enter the hours or expenses in an “Other non-billable” category.
Disclaimer: This calculator is provided for a rough estimate of what you might charge. It is based on a consultant’s experience and is not a substitute for a financial expert or accountant. For advice on what to charge, obtain advice from an account or financial expert.