Consulting Fees Calculator

Add your desired annual income to your total annual operating costs to get your total revenue target. Divide that by your billable days per year, then divide again by your billable hours per day. This gives you the minimum hourly rate you need to charge to meet your goals.

Billable days are days spent actively working on client projects that you can charge for. Non-billable days include time spent on marketing, admin tasks, invoicing, networking, and professional development. Accurately estimating non-client days is crucial — many consultants underestimate this and end up undercharging.

Include all business-related expenses: software subscriptions, hardware, insurance, healthcare, rent or home-office costs, marketing, professional fees (accountant, lawyer), memberships, supplies, and utilities. These must be covered by your billing rate, not taken out of your desired income.

Hourly rates are transparent and easy to quote, but they can penalize you for working efficiently. Project-based or value-based pricing is often more profitable — consultants who switch from hourly to value-based pricing frequently report fee increases of 30% to 400%. Use the hourly/daily rate as your floor, not your ceiling.

Most independent consultants realistically bill between 100 and 180 days per year after accounting for holidays, sick days, and non-client work. Planning for fewer billable days forces you to charge a higher rate, which is more accurate than assuming you'll bill 250+ days.

Your daily rate is simply your hourly rate multiplied by the number of billable hours in a working day (commonly 6–8 hours). Daily rates are often used for on-site consulting engagements, while hourly rates suit shorter or remote engagements.

Review your rates at least once a year — ideally before starting new client engagements. Factor in any changes to your operating costs, income goals, demand for your services, and the value you deliver. Rising costs or growing expertise both justify increasing your rates.

Yes. The calculator is currency-agnostic — it works with any currency. Simply enter all values in your local currency and the results will reflect your local rates. Just keep all inputs consistent in the same currency.