Day/project fee from target income. The Consultant Fee Calculator takes target annual income, billable days per year, overhead and non-billable time loading, days in the project being quoted and returns day fee plus project fee, hourly equivalent (8 hours). Results update as you type, and the formula is shown under the result so you can repeat it in your own spreadsheet.
Payroll figures should follow the rules in your contracts and local law. Where a rule differs between states or countries, adjust the inputs; the calculator shows its assumptions so you can check them against your own policy. Use the worked example below to check the maths against your own figures.
How the Consultant Fee Calculator works
The overhead loading covers proposal writing, travel days, tools and insurance that no client pays for directly. Twenty to thirty percent is typical for independent consultants.
Worked example
With the example values (target annual income of $120,000, billable days per year of 200, overhead and non-billable time loading of 25%, days in the project being quoted of 10), the day fee is $750.00; project fee $7,500.00, hourly equivalent (8 hours) $93.75. Change any figure above and the result updates immediately; use Copy results to paste the summary into a note or email.
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Frequently Asked Questions
How is day fee calculated?
day fee = target income ÷ billable days × (1 + overhead loading); project fee = day fee × project days.
Which figures do I need?
Target annual income, billable days per year, overhead and non-billable time loading, days in the project being quoted. Take them from the same period and the same set of accounts or reports so the ratio is consistent, and check the example values as a guide to the units expected.
Do the rules differ by location?
Yes. Statutory rates, ceilings and eligibility conditions vary by country and often by state. Adjust the inputs to your jurisdiction and confirm with your payroll provider or labour law adviser.
