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Freelance Rate Calculator

Are you new to freelancing or re-evaluating your current hourly rate for your freelance business? Use our free tool to quickly learn tips on how to establish your minimum hourly freelance rate.

Monthly Expenses
1
/ 3
/month
$000
Hand with money illustration
$000
Estimated minimum required yearly income
000
Estimated working hours per year
000
Estimated billable hours

To help determine your estimate for your total annual billable hours, let’s start with how much you want to work. That means looking at the days you'd want to spend doing other things. You may be familiar with this equation: 40 hours/week x 52 weeks/year = 2,080 hours/year. This equation shows that if you work the conventional 40-hour workweek, 52 weeks per year without breaks, you will work 2,080 hours per year. On average, only 60% of your working hours will be billable for clients, while roughly 40% of the time will be spent on administrative tasks such as client sourcing.

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First table

Upwork
Guru*
Types of freelancers
Upwork
  • Live in more than 180 countries
  • Have over 10,000 skill sets
  • Work in 12 industries
  • Hold a variety of degrees and certifications (more than 70% of Upwork freelancers note that they have a college or university degree)
Guru*
  • Live in 85 countries
  • Work in nine industries
Ways to find freelancers
Upwork
  • Post jobs
  • Browse profiles
  • Browse Project Catalog
Guru*
  • Post jobs
  • Search profiles
Hiring process
Upwork
  • Post a job or browse Project Catalog
  • Review freelancer profiles and proposals
  • Discuss the job over Upwork Messages (text, audio, or video chat)
  • Enter into a secure contract
  • Place payment into escrow
  • Receive the work
  • Approve the work
  • Release payment
Guru*
  • Post a job
  • View freelancer profiles and quotes
  • Discuss the job
  • Select a payment method
  • Create an agreement
  • Create a WorkRoom
  • Toptal has one type of account for accepted freelancers.
  • Receive the work
  • Approve the work
  • Release payment or pay automatically with AutoPay
Billing methods (varies by country)
Upwork
  • Credit card
  • PayPal
  • U.S. bank transfers
Guru*
  • Credit card
  • PayPal
  • Wire transfer
  • eCheck (U.S. only)
How to apply for jobs
Upwork
  • Submit proposals with Connects
  • Respond to client invitations
  • Reply to Talent Scout recruiters
Guru*
  • Review matches provided by a Toptal team member
  • Browse and apply to client projects
Service fees
Upwork

5% processing fee on all transactions (some U.S. clients using ACH bank transfer may be eligible for a 3% processing fee)

Guru*

2.9% handling fee on all payments; users can receive 100% of the fee in cash back when using wire transfer or eCheck

Special features
Guru*
  • Guru Enterprise
  • WorkRooms
  • SafePay escrow
  • AutoPay
  • Freelance favorites lists
  • Featured job posts

Second Table

Upwork
Guru*
Types of clients
Upwork
  • Entrepreneurs 
  • Small businesses
  • Medium businesses
  • Large corporations
Guru*

    Guru’s client testimonials are from solo entrepreneurs, creatives, and companies of varying sizes

    Types of jobs
    Upwork
    Guru*
    • Hourly
    • Fixed-price
    • Task-based
    • Retainer
    Account types
    Upwork
    • Freelance Basic (free)
    • Freelancer Plus
    Guru*
    • Guru Basic (free)
    • Guru Basic+
    • Guru Professional
    • Guru Business
    • Guru Executive
    How to apply for jobs
    Upwork
    • Submit proposals with Connects
    • Respond to client invitations
    • Reply to Talent Scout recruiters and Talent Specialists
    Guru*
    • Submit quotes with Bids
    • Respond to client quote requests
    Workflows
    Upwork
    • Submit a proposal, reply to an invite, or make a Project Catalog sale
    • Chat with the client via Upwork Messages (text, audio, or video chat)
    • Review and accept the agreement or purchase
    • Log hours worked or milestones reached
    • Submit work to client
    • Receive payment
    Guru*
    • Submit a proposal or respond to a quote request
    • Chat with the client
    • Reach an agreement regarding terms
    • Review and accept the client’s agreement
    • Log work
    • Submit hours and deliverables for review
    • Receive payment from client
    Payout methods (varies by country)
    Upwork
    • Direct deposit
    • Bank transfer
    • USD wire transfer
    • Instant Pay
    • PayPal
    • Payoneer
    • M-Pesa
    Guru*
    • PayPal
    • Payoneer
    • Wire transfer
    • Direct deposit (U.S. only)
    Service fees
    Upwork

    Upwork charges a tiered fee structure based on your lifetime earnings with a client: 

    • 20% of earnings up to $500
    • 10% of earnings from $500.01 to 10,000
    • 0% on contracts arranged with the help of a Talent Scout
    Guru*

    Guru charges a tiered fee structure based on your plan type:

    • Basic: 9%
    • Basic+: 9%
    • Professional: 7%
    • Business: 6%
    • Executive: 5%
    Special features
    Upwork
    Guru*

    Clients and freelancers can split up to 5% of freelancer fees if desired.

    Third Table

    Upwork
    Guru*
    Types of jobs
    Upwork
    • Accounting & consulting
    • Admin support
    • Customer service
    • Data science & analytics
    • Design & creative
    • Engineering & architecture
    • IT & networking
    • Legal
    • Sales & marketing
    • Translation
    • Web, mobile & software development
    • Writing
    Guru*
    • Programming & development
    • Design & art
    • Writing & translation
    • Administrative & secretarial
    • Business & finance
    • Sales & marketing
    • Engineering & architecture
    • Legal
    • Education & training

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