Packing up your office and going freelance is a decision fraught with questions, but number one on most people's lists is probably: "How much do I charge?"
Setting your freelance rate is a complicated puzzle filled with even more questions. Do I charge hourly? By the day? By the project? What do other people charge? What's a fair rate? Should I lower my rate to get more work?
Ugh. All of those questions are enough to make working in a cubicle in a nondescript office building for a faceless company sound appealing. But don't be discouraged. At Girlboss, we know that figuring out your rate is one of the most confidence-building things you can do as a freelancer, because it forces you to actually understand your own value. Here's how to do it.
Get Your Basic Needs Met First
First things first: figure out how much money you need to live. While you may think this means carrying over your salary from your last full-time job, it is important to remember that as a freelancer you are responsible for expenses that may have been at least partially covered by your previous employer, including health insurance, travel, and retirement contributions.
Add together all of your personal monthly expenses: rent, food, transportation (car payments, insurance premiums, subway cards, gas), utilities (electricity, internet, phone), subscriptions (web hosting, streaming services), and health insurance (premiums, prescriptions, co-pays).
From there, add the new expenses that freelancing brings: self-employment taxes and retirement fund contributions. You won't know the exact numbers, but adding about 25 to 30 percent to your total will likely cover it. Self-employment tax alone is 15.3%, and when you layer in estimated income tax, 25 to 30% is a reasonable working estimate — though it varies by income level and state, so treat it as a starting point and consult a tax professional once you are earning consistently.
Your minimum hourly rate formula
From there, the real fun begins, because as Christina M. Frey, senior editor, literary coach at Page Two Editorial, and former co-executive of the Editorial Freelancers Association, puts it: "You're not just self-employed, you're also the self-employer."
"You're not just self-employed, you're also the self-employer."
"You need to think about your overhead, but don't forget to consider the number of non-billable hours you'll put in each day," she says. "You may say 'I'm making $X per hour, and that's fine,' but what if you're only working four billable hours and spending the other four on marketing and administrative work, which is all unpaid? That needs to be considered when calculating rates."
If you are still in the planning phase of leaving a full-time role, this guide to going corporate to freelance walks through the financial preparation that makes the transition much less terrifying.
Research What Others Are Charging
While generally you should not compare yourself to anyone else because you are perfect just the way you are, when it comes to setting a freelance rate, knowing what others charge is incredibly helpful.
Google is your friend here. Search for others doing what you do and get a sense of what they charge. "Join professional organizations, go to discussion forums, go to conferences, and find your tribe," suggests Frey. "Get a small group of like-minded freelancers together to talk openly and honestly about pricing. In these small mastermind groups, you can be more open talking about money or other business matters. It takes time to find people you can trust, but it's worth it."
In 2026, those communities exist beyond Facebook groups. LinkedIn groups, Slack communities, Discord servers, and platforms like Contra and Polywork are where many freelancers now find their tribes, share rates, and get candid feedback. The EFA's own member directory is also worth joining if you work in editorial fields.
You can then adjust your pricing based on your experience, because the value you bring should be a big consideration.
"As women we're often conditioned to devalue what we bring to the table, and that can cause us to be timid," says Frey. "Don't only look at what others are doing; identify what you yourself are offering a client. Know your client and know their needs. Know your own skills and strengths. Be confident! Don't sell yourself short."
Consider Billing by the Project
Sometimes it makes more sense to bill on a per-project basis because different types of work have different demands. "Know what hourly rate you want to ask for but also be aware of the demands of the particular type of work," Frey says, adding that in her own editing work, some types are more taxing than others.
To find the project rate, Frey suggests laying out the client's needs and what you can do to meet those needs, line by line. "Write out everything the process will entail, including the value you bring as well as what the client can expect and when," she says. The "when" forces you to assign an amount of time for each line, which you can use to assign an hourly rate. Add all the hours together, and you have your project rate.
Struggling to quantify your value? This is exactly the same challenge as a salary negotiation. This guide to asking for a raise has a useful framework for tying your contributions to business outcomes — the same logic applies when you are pitching a client.
Don't Forget to Factor In Time Off
A lot of people think of freelancing as a work-when-you-want type of gig. For many, it can be more of a work-when-you're-awake situation. Which is exactly why it is even more important to take care of yourself when you are working for yourself.
"You know you need to put money aside and plan for expenses like a new computer, new software, and other upgrades," Frey says. "But as a freelancer, you are your biggest business asset, and you have to treat yourself with as much care as you would your best equipment. So, factor in weekends and holidays — you deserve to take weekends off, and you deserve a vacation. It's critical because you will burn out if you don't, and you won't be able to perform at your best."
Building those costs into your rate from the start means you are not scrambling every time you want to take a week off. Your rate should account for a realistic number of working weeks per year, not 52.
For more on what the freelance income picture actually looks like once you are in it, this guide to independent work in 2026 covers earning ranges across different freelance fields and the tax considerations worth knowing before you price your first project.
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