Having a good understanding of what your skills and knowledge are worth is hugely important to you as a contractor. Due to the nature of contract work, such as lack of benefits and job security, contractors often consider setting their rates higher than comparable permanent employees. However, charging too much for your services can often mean you price yourself out of the market as there will be someone out there willing to do the job for less.
Similarly, don't under sell yourself as the client may call your knowledge and skills into question if you are available for way below the going rate. Remaining flexible and keeping up with market changes will make sure you put yourself out there at the right price.
When determining your daily rate you will need to remember the costs that will be coming out of your earnings. These can include:
Our Salary Survey highlights the average day rates for contractors with digitally focussed marketing, commercial, creative and technology skill-sets and is a great resource for setting your day rate.