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Hourly and day rate calculator.
Convert an annual salary to an hourly or day rate, or estimate what annual equivalent a quoted rate implies.
Effective hourly rate
£31/hr
- Day rate
- £245
- Equivalent salary
- £50,000
- Monthly take-home
- £3,184
- Annual take-home
- £38,203
Indicative figures only. They exclude tax, pension, holiday and time between contracts, so check the full picture before quoting a rate.
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Hourly and day rate calculator
Questions people ask
Why is a contract day rate higher than an equivalent salary?
Because it covers things a salary includes but a rate does not: holiday, sick pay, pension, notice, and the gaps between contracts. A rate that looks generous against a salary can be worth less once you account for unpaid weeks. Work out how many weeks a year you realistically expect to bill before comparing the two.
How many working days should I assume in a year?
There are about 260 weekdays in a UK year before bank holidays, holiday and any gap between contracts. Many contractors plan on 220 to 230 billable days. Using 260 will overstate annual income noticeably.
Does this account for tax or IR35?
No. It converts between rates and annual figures only. How you are taxed depends on your working arrangement and whether the engagement is inside or outside IR35, which changes take-home considerably. The IR35 calculator covers that side.