The freelance rate math most people get backwards
Day rate is not hourly times eight. Here is the real math — and a Notion model that keeps it honest.
New freelancers multiply their old salary by 1.5 and call it a day rate. The math ignores the three costs that quietly eat the difference.
Billing days, not weekdays
You do not bill 220 days a year. Admin, sales, sick days, and gaps between projects typically cut billable days to 120–150. Divide your target income by realistic billable days — not by 260.
Load the non-billable work
Proposals, invoices, and tooling are real labor. Add 20–30% on top of delivery time, or you are donating that time to your own overhead.
Model it where you plan
A single Notion database with rate, billable days, overhead %, and target income produces your floor rate live. Change one number after a slow quarter and the whole model updates.
Want the model prewired? Freelance Rate Calculator includes the formula graph and a deal tracker that feeds it.