Income & Work

What Is a Day Rate?

A day rate is a fixed fee charged for one day of work, common among freelancers, contractors, and consultants. It is often derived from an hourly rate multiplied by a standard number of hours per day, such as 8, or from an annual income target divided by expected billable days.

Example

An hourly rate of 60 × 8 hours = a day rate of 480. Working back from a target: 90,000 ÷ 180 billable days = 500 per day.

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🔗 Related Terms

Billable Hours Billable Utilization Rate Independent Contractor

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Last updated: September 27, 2026. This definition is for general educational purposes only. It is not financial, investment, tax, legal, or medical advice, and it does not recommend any product or course of action. For decisions about your own situation, consult a qualified professional.