salary to consultant daily rate calculator
https://codegeek1001.github.io/salary2consultantcalc/
A simple calculator that tells you an equivalent break-even Daily Rate that you should charge if you were to switch from your salaried job to consulting.
Currently, the calculator is built to work only for United States as it factors some US specific numbers like Social Security Contribution, Medicare etc. Sorry I know folks in other countries would want something like this too but these are too country (even state) specific. So feel free to fork and do whatever the heck you want to do with this.
Yours truly. I switched from full time jobs to being a consultant (now bootstrapper) almost 5 years ago. I worked for Investment Banks as a contractor/consultant pulling in a daily rate. I had to play around a lot with numbers to get a better idea of how to come up with a daily rate that is at least break even compared to previous salaries. I had this tool built in excel for a while and decided to put this online for fun.
This is a very first draft and I am too lazy to explain :). If you know what "View Source" or "Inspect Element" means, have fun. The main logic is in app.js
Yea, nothing is hitting any servers or backend. This is just a tool for fun and to get some basic idea on where you stand. Purely static HTML/CSS/JS.
I will say it is fairly close to being accurate even though it makes a few assumptions. So use it but don't expect this to be an official tool specially when it comes to legal/accounting/tax stuff. Talk to your accountant/tax lawyer before deciding anything.