Whether you’re setting a value on your time for a sales letter – or trying to figure out how much a personal project is “costing you” it’s important to know what your time is worth.
Now we’d all like to just plug our name into a magic calculator, along with our related experience and education, and have the machine tell us “Your Time is worth this amount.” But since that’s not going to happen, let’s consider alternatives.
Method 1: What You’re Paid
If you’re still working a job, it’s a fairly easy calculation to see what you’re paid per hour. Just take your annual salary and divide by 2000. That’s the average work hours per year.
Sure, that’s not really what you’re worth, because you’re being underpaid. But it will give you something to work with.
Method 2: Annual Income
If you’re self-employed, take your gross income for the year and divide by 2000. That’s your hourly earnings.
You can also rely on your “billing rate” for consulting. But for every hour you are paid Read More→