A Conversation for One Man's Woodcraft: How to Price your Time

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Post 1

aka Bel - A87832164

but is 30,000 a year realistic? How much does the average person earn per year?


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Post 2

Rod

NZ$ is more than that, then there's US$, Oz$, Francs, DM... An impossible task.

Pick a number
Well, I chose that 30k as a UK aiming point (median is £Kmid twenties, apparently) having regard to extras - pension, insurance, car... which you may well need if self-employed.


And after all, it's not intended to be hard & fast. It could be out of date next by year anyway - which is why I counted in groats.


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Post 3

aka Bel - A87832164

Most of the jobs I've seen for the UK will earn you less than 20kpa


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Post 4

Rod

and so it was (usually) for me, depending where I looked.


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Post 5

Rod

In retrospect, I should have said something more like

40 weeks/year X 40 hours/week = 1600 hours/year

So, for every groat per hour you charge, your annual income would be 1,600 groats

1 groat/hour = 40/week = 1,600/year
10/hour = 400/week = 16,000/year

and so on.

Sorry. I'll try harder


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Post 6

aka Bel - A87832164

Gosh, no. It's a great example. I was only curious, not criticising. smiley - smiley


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Post 7

Rod

's'ok

I'm finishing off a trip report, soon to be with you.

Then there's Pricing Your Costs (a follow-up to the one under discussion).


After that, back to (lathe) Tools

Then I'll think about the washing-up


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Post 8

aka Bel - A87832164

Got the report, smiley - cheers


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