Nick HutchisonFounder and CEO, BookThinkers

Do you know your hourly rate? ⏰ Calculate it for last year and see what you come up with!🤑

4 Feb 2023 · 1 min

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0:37

Divide your annual income by 2,000 hours to find your hourly rate. Use that number to decide what to outsource, who to hire, and where to spend your time.

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Something I'm a little confused with is how do I calculate my hourly rate? Oh, this is really important too, Nick, because this is one that's going to help you determine your decisions. So the easiest way mathematically to calculate it is we created a formula, and you take what you make on an annual basis. The reality for most of us is if you take 50 weeks a year, because hopefully you'll take 2 weeks off, so instead of 52, 40 hours a week, you have 2,000 hours. And so you take that total earnings and then divide that by the 2,000. And you'll figure out what your hourly rate is, which will then help you dictate what decisions do I outsource, who do I need to hire, and where is my time most valuable.