This calculator helps freelancers determine a sustainable and profitable daily rate by considering their desired annual income, estimated working days, and essential business expenses.
function calculateDayRate() {
var desiredAnnualIncome = parseFloat(document.getElementById("desiredAnnualIncome").value);
var workingDaysPerYear = parseFloat(document.getElementById("workingDaysPerYear").value);
var businessExpenses = parseFloat(document.getElementById("businessExpenses").value);
var nonBillableHoursPerDay = parseFloat(document.getElementById("nonBillableHoursPerDay").value);
var billableHoursPerDay = parseFloat(document.getElementById("billableHoursPerDay").value);
var resultDiv = document.getElementById("result");
resultDiv.innerHTML = "; // Clear previous results
if (isNaN(desiredAnnualIncome) || isNaN(workingDaysPerYear) || isNaN(businessExpenses) || isNaN(nonBillableHoursPerDay) || isNaN(billableHoursPerDay)) {
resultDiv.innerHTML = "Please enter valid numbers for all fields.";
return;
}
if (workingDaysPerYear <= 0 || billableHoursPerDay <= 0 || nonBillableHoursPerDay < 0) {
resultDiv.innerHTML = "Working days and billable hours per day must be positive. Non-billable hours cannot be negative.";
return;
}
// Calculate total required revenue
var totalRevenueNeeded = desiredAnnualIncome + businessExpenses;
// Calculate total billable hours per year
var totalBillableHoursPerYear = workingDaysPerYear * billableHoursPerDay;
// Calculate the hourly rate
var hourlyRate = totalRevenueNeeded / totalBillableHoursPerYear;
// Calculate the day rate
var dayRate = hourlyRate * billableHoursPerDay;
// Display the result
resultDiv.innerHTML = "Your estimated Freelance Day Rate: " + dayRate.toFixed(2) + "";
}