Question 1

How do I calculate my consulting day rate?

Accepted Answer

Day rate = (target annual income + overhead + profit margin) / billable days per year. If you want $150,000 net, have $20,000 overhead, target 30% margin, and bill 180 days a year: ($150,000 + $20,000) / 0.70 / 180 = $1,349/day. Most consultants bill 180-220 days per year.

Question 2

What is utilisation rate in consulting?

Accepted Answer

Utilisation rate = billable hours / total available hours x 100%. A consultant working 8 hours/day and billing 6 is at 75% utilisation. Target rates vary: solo consultants aim for 70-80%; large firms target 65-75% to allow for business development, training, and admin.

Question 3

How do I price a consulting retainer?

Accepted Answer

Retainer price = committed hours per month x hourly rate, typically at a 10-20% discount vs project rate in exchange for guaranteed availability. Retainers should specify deliverables or hours clearly and include a rollover or use-it-or-lose-it policy.

Question 4

Are these consulting tools free?

Accepted Answer

Yes - completely free, no sign-up required. Results export to CSV or PDF.

Free Consulting Tools & Calculators

Consulting calculators that price your expertise right

Consulting Tools - FAQ