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Global term
Day rate
The fixed amount a freelancer or contractor charges for one full working day, usually eight billable hours.
Day rates are the dominant pricing model for senior freelancers and contractors in software, design, consulting and creative industries. To set your day rate, start with the annual salary you want, divide by the number of working days you expect to bill, then add a margin for taxes, time off, equipment and downtime. A useful rule of thumb is to start at one and a half times your equivalent salaried day, then adjust based on demand and seniority.
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