Billable Hourly Rate Calculator
How to use the calculator to determine how much to charge.
How can you charge these prices? By using a price book. There's a reason all the successful companies use one.
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Billable Hourly Rate Calculator
Rate Components
Base hourly wage for the electrician
Benefits, taxes, insurance, workers comp (typically 21-32% in North America)
Because of the high cost of marketing for electrical services, customers getting quotes for small jobs, and the small average tickets the recommended minimum profit margin is 50% plus.
Rate Calculation
Base Rate
$39.00
+ Labor Burden
$48.75
Includes benefits and overhead costs
÷ Efficiency Factor
$152.34
Adjusted for non-billable time
+ Profit Margin
$362.71
Final billable hourly rate
$362.71/hour
Profit Margin: 58.0% | Total Markup: 829.8%
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Quick Reference
Daily (8 hrs): $2,901.68
Weekly (40 hrs): $14,508.40
Monthly (~173 hrs): $62,748.83
Calculation Steps
1. Base Rate: $39.00
2. + Labor Burden (25%): $39.00 × 1.25 = $48.75
3. ÷ Efficiency (32%): $48.75 ÷ 0.32 = $152.34
4. ÷ (1 - Profit Margin): $152.34 ÷ (1 - 0.58) = $362.71
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