How To Find Out How Much You’re Really Worth

Bryan Collins

In 1990, Canadian model Linda Evangelista told Vogue magazine, “We don’t wake up for less than $10,000 a day.”

Today’s supermodels earn millions more than that per day, but one thing is clear:

Everyone worth their drawings or income should know what their time (not just their work) is worth.

A rate per hour reflects the cost of your work, skills, materials and the value you bring to clients or customers.

How To Calculate Your Rate Per Hour

Workers paid by the hour will know the rate they are paid. If you earn a salary, calculate your income per week. That is:

● Income per week = annual salary ÷ 52

Next, calculate your income per day. That is:

● Income per week ÷ hours worked per week

You might have other benefits like a pension or options, but the goal is to reach a rough figure representing your time.

Next, whether you earn a salary or hourly wage, find out what the market pays people with your skill set.

Speak to peers working for different companies. Contact recruiting managers. Research typical rates using sites like Glassdoor, and

This will help you find the difference between your actual and ideal rates per hour.

How To Apply Your Rate Per Hour

A copywriter, let’s call her Conversion Kate, calculates her initial rate per hour at $50, but she really wants to charge $500.

Some of Conversion Kate’s key tasks include finding clients, conducting customer research and writing copy.

Conversion Kate is good at what she does, but she struggles with arranging interviews with her client’s customers (a task most copywriters must complete).

Email discussions such as, “Does Monday work for you?” consume hours of her work week.

Conversion Kate discovers booking software will help her solve this problem. It enables interviewees to self-select a time that suits both parties, but it costs $20 per month.

Rather than weighing the pros and cons, Conversion Kate should subscribe to this software immediately.

Then she can solve more valuable problems, like finding referrals for higher-paying clients.

Even if the software is unsuitable, Conversion Kate can cancel her subscription. Her time is spent focusing on revenue growth rather than cutting costs.

Similarly, if she spends more than an hour on low-value tasks like transcribing customer interviews, Conversion Kate should delegate or use a transcription service.

She tells herself,

“If the task takes longer than one hour, and the solution costs less than $50 per hour, I will always opt for the solution.”

When Conversion Kate’s actual rate per hour increases, she can adjust accordingly.

Increasing Your Rate Per Hour

What should you do if your actual rate falls shy of what you will get out of bed for?

Start by logging activities you spend time on, how long they take, and the results.

Put an asterisk beside activities you’d like to delegate or outsource when you can afford it or have a team to manage.

If you’re a freelancer, gather enough testimonials to justify a better rate.

If you’re an employee, keep track of your achievements and point to them come review time.

This mindset will help you concentrate on higher-value activities and narrow the gap over time.

Play To Win

Remember, if business is a game, money is one way of keeping score. Invest it. Spend it. Save it. Donate to charity. Go on a holiday to Cancun.

But play to win.

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Bryan Collins is an author from Ireland who helps writers build authority and earn a living from their creative work

Ireland, IN

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