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0 pointstroels9y ago0 comments

I would say this formula only derives the minimum reasonable rate as a freelancer. It basically ends up netting you the same as you would in a salaried job (adjusted for risks/expenses). But I would say you should be making at least a bit more this way, for it to make sense as a career path.

For comparison, I'm working as a contractor now and making between 2 and 3 times what I could make in a perm position. That's adjusted for expenses, sick days etc. It does not cover vacation though and it assumes that I am able to line up new contracts back-to-back, which may not always be the case.

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Communitivity9y ago

Agree 100%. I derived my formula just to match what you would make in a salaried job, and there are other pieces to factor in as well that I left out for simplicity. For it to make sense you need to figure out how much more you want to make for it to be worth it as a career. If you are just starting out as a freelancer though, you might be ok with just matching salaried for your first year clients.

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