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I worked backwards from my target salary, divided by the amount of workdays in a year, with an added 15% contracting rate modifier.

So if I wanted to make 90k/y, my day rate would be :

> (90000 / 230) * 1.15 = $450 per 8-hour day.

PS: I don't like selling time in less than 4 hour batches either.

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I wouldn't recommend doing this.

What does your target salary have to do with the value of your work?

It's also a really naive calculation in that it assumes you will be able to fill nearly every working day out of the year with a full day's worth of paying work. When are you going to pursue leads, develop your sales funnel, learn new tech, and file your taxes?

Um. You work for money. Generally one should have a target amount of money in mind (based on a budget). I rather like the calculation. I'll use it next time I do consulting.

Of course you should have a budget, but what does that have to do with the value you're providing as a consultant?

If you're asked why your hourly rate is $X, are you going to reply "because I have expensive hobbies?"

Do you think this is how companies price their goods?

I mean, sure you should calculate a bare minimum rate. But you should charge as much as the market will bare.

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