I do an exercise with my project management participants which gets them to calculate what their hourly rate should be if they start working for themselves to achieve the sort of total income they would like to have. It serves two purposes. One, it allows me to see what spreadsheet skills they have and two, it introduces them to estimating, budgeting etc.
The short cut would be to use this well crafted website which allows you to plug in the figures and calculate your hourly rate. Try it out. If the predictions are correct many of you who are not working for yourself yet, soon will be.
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