Salary Based Calculations
This one’s a bit of a looser concept but this takes what you would be if you were employed by a studio as a normal employee aka muggle. Give yourself the promotion that reflects your duties (you are doing more that the average designer in the average studio).
Say the salary of that staff member is $100k. Now most employees have holidays, sick leave, time off, as well as benefits like super. Divide the salary by the total weeks that you will work after accounting for those weeks off, so let’s say 44 weeks out of the year you will bill for. This gives us around $2,300 per week. Now take that number and divide it between the billable hours you want to work. The lower the number of hours, the higher the hourly rate. So, say we make that 25 hours, that makes our hourly rate just under $80 per hour. Now this doesn’t take into account slower weeks, adding for tax, etc. This is a guide number to work with.