Consultant Calculator
Calculate your consulting rates, project fees, and annual income
Consulting Income Breakdown
Consulting Rate Comparison
Project-Based Pricing
For a 1-month project (160 hours):
Fixed project fee
Retainer Model
Monthly retainer (20 days/month):
Monthly recurring
Value-Based Pricing
Based on 3x value delivered:
Value-based fee
Understanding Consultant Rates & Income
Your consulting rate should be based on:
- Market Rates: Research what other consultants in your field charge
- Experience Level: More experience = higher rates
- Specialization: Niche expertise commands premium rates
- Location: Rates vary by country and city
- Value Delivered: Charge based on the value you provide, not just time spent
Formula: (Desired Annual Income + Expenses) ÷ Billable Hours = Hourly Rate
Billable Hours: Time spent directly on client work that you can charge for
Non-Billable Hours: Administrative tasks, marketing, networking, learning, etc.
Most consultants have a billable percentage between 60-80%. This calculator uses your billable percentage to estimate actual income.
As a consultant, you'll have various expenses:
- Office Expenses: Rent, utilities, internet, phone
- Equipment: Computer, software, office supplies
- Professional Services: Accounting, legal, insurance
- Marketing: Website, advertising, business cards
- Travel: Client meetings, conferences
- Continuing Education: Courses, certifications
- Taxes: Income tax, self-employment tax
1. Hourly/Daily Rate: Charge based on time spent
2. Project-Based: Fixed price for entire project
3. Retainer: Monthly fee for ongoing services
4. Value-Based: Charge based on value delivered
5. Performance-Based: Fees tied to results achieved
Tip: Start with hourly/daily rates, then move to project-based or value-based pricing as you gain experience.
As a self-employed consultant, you need to consider:
- Income Tax: Payable on your net income
- Self-Employment Tax: Social Security and Medicare
- Quarterly Estimated Taxes: Pay taxes quarterly
- Deductions: Home office, equipment, travel, etc.
- GST/VAT: If applicable in your country
Important: Set aside 25-30% of your income for taxes. Consult with a tax professional for specific advice.