Tuesday, October 04, 2005

How to calculate your hourly rate

I accidentally found a new way to find your hourly rate for your consulting services. As many of you already know that the rate depends on the geographical location. Search for salary calculator in Google and go to the homefair.com website.

1. Calculate the salary based on your present location to the new location. Let's say it is 160k /yr.
2. Do a job search on Dice and check out the salary or hourly rate for that area and your level of experience. Lets say this is 95-145k/year.
3. Go to Candlewood suites website and check out the daily room rate for 30 days or more. For example this can be 80/night.

As you can see #1, #2, #3 all confirm each other. (160/2=80)

So your hourly rate for the new location should be $80/hr

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