Daily Rate to Salary Calculator
Convert your daily consulting or contract rate into an equivalent annual salary.
When to use this tool:
- Convert day rates to salary
- Compare short-term contracts
- Calculate annual equivalents
How it's Calculated
- Annual Salary = Daily Rate × Days per Week × Weeks Worked
Key Assumptions
- Assumes a flat consulting daily rate without half-day fractional billing.
- Assumes 52 weeks in a calendar year.
Actionable Insights
- Never multiply your daily rate by 260 (52 weeks × 5 days) without subtracting vacations, sick days, and non-billable bench time. 220 or 230 days is a safer maximum.
- A £400 daily rate might seem incredibly high, but once you subtract self-employment taxes, missing pension contributions, and unpaid holidays, it roughly equates to a £65k salary, not £100k+.
Frequently Asked Questions
There are generally 260 to 262 working days (Monday-Friday) in a year, depending on leap years.
Yes. Daily rate contractors should typically charge a 30-50% premium over their salaried daily equivalent to absorb the risk of downtime and lack of benefits.
Subtract the public holidays from your total working weeks. Instead of 52 weeks, calculate using 46 or 47 weeks.
It simplifies billing for clients. They don't have to track your hourly movements, and you are paid for output per day rather than punching a clock.
Use an average. If you work 3 days one week and 5 the next, input 4 days per week.
Yes, but remember to discount the calculated annual salary by around 20-30% to find the true 'salaried' equivalent value.