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How to set pricing for hourly work

How to set pricing for hourly work: Consulting Professional Weekly Tips
How to set pricing for hourly work: Consulting Professional Weekly Tips

To set your rate for hourly work, take your prior annual total cash compensation (base plus bonus), divide by 250 days, divide by 8 hours, then multiply by 3. That gives you an hourly rate that accounts for time you won't be billing—vacation, sales time, administrative time, etc. It also factors in the increased taxes you need to pay when you run your own firm.

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