Work out your hourly rate

Work out your hourly rate considering all the important factors and it could mean the difference between just scraping by versus making a sizable income.

In order to work out your hourly rate you have to consider more than the going rate. Really, you should be thinking about your overall fee structure and the way you want to charge for your expertise. Rather than try to work out your hourly rate, first consider all the options:

Set fees based on the project;
Set fees based on performance;
Work out your hourly rate and charge by the hour;
Set consulting fees by using real-life data.
Among other options.

Instead of wondering how to work out your hourly rate, consider other methods of charging for your time and expertise. Which method will work best for you? Which method works best for your industry? How do other consultants in your niche bill?

Even if you do work out an hourly rate, be sure you’re considering all the relevant costs that consultants occur.

If it’s time to work out your hourly rate, first consider purchasing my guidebook to make sure you’re covering all the bases: Consulting Fees: A Guide for Independent Consultants. Remember, you’re worth it, and your rates should reflect that.