Let's assume you charge $2500 for a 2 week project. You set aside some money for taxes (20%) and expenses (30%). At the end of the two weeks, you pocket $1250.
What is your hourly rate for this project?
-
25 hours = $25/hour
You plan on spending 25 hours per week on this client's project, which means you will have earned $25/hour.
That leaves plenty of time to work on other areas of your business (or to put your feet up with a good book... why not?!)
40 hours = $15.63/hour
But.... oops! You painstakingly spent an extra 15 hours per week fighting with some pesky code to give the client's site some spice.
You have now spent 40 hours per week on this client's site, which means you have earned $15.63 per hour.
-
60 hours = $10.42/hour
Let's not even think about what you would've earned if you worked 60 hours or more.
Hint: It's less than you would be paid stocking shelves at Walmart.