Freelancers: Why You Should Always Convert Your Rates

Nov 25, 2025

Freelancers: Why You Should Always Convert Your Rates

Why Converting Your Freelance Rates Is So Important
1. Get Paid What You’re Worth
If you accept a ₱3,000 project that takes 15 hours, your real hourly rate is only:
₱3,000 ÷ 15 = ₱200/hour
Conversions help you spot undervalued offers instantly.
2. Easily Compare Client Offers
3. Avoid Undervaluing Long Projects
A ₱20,000 project may look good…
But if it needs 80 hours of work:
20,000 ÷ 80 = ₱250/hour
Conversions reveal whether a project is worth taking.
4. Create Consistent and Professional Pricing
5. Helps You Set Income Goals
Monthly → Daily
50,000 ÷ 22 = ₱2,272/day
Daily → Hourly
2,272 ÷ 8 = ₱284/hour
You must charge at least ₱284/hour (or the equivalent project rate) to reach your goal.
6. Makes International Work Easier
7. Protects You From Scope Creep
If your hourly rate is ₱300 and a client adds 3 hours of work:
300 × 3 = ₱900 extra
How to Convert Your Rates
1. Hourly → Daily
Daily = Hourly × 8
2. Daily → Hourly
Hourly = Daily ÷ 8
3. Hourly → Weekly
Weekly = Hourly × 40
4. Monthly → Hourly
Hourly = (Monthly ÷ 22) ÷ 8
5. Project → Hourly
Hourly = Project Price ÷ Total Hours
6. Hourly → Project
Project Price = Hourly × Estimated Hours
Why Use an Income Converter Tool?
✔ More accurate
✔ Zero math required
✔ Supports any currency
✔ Perfect for multi-client workflows
Practical Examples for Freelancers
Example 1: Client Offers $10/hour
Then you’re earning ₱580/hour — above your goal.
Example 2: Client Offers ₱15,000 per project
Your target rate: ₱300/hour
300 × 50 = 15,000
Example 3: Monthly retainer offer ₱30,000
30,000 ÷ 22 = 1,363.64/day
1,363.64 ÷ 8 = 170.45/hour
Frequently Asked Questions (FAQ)
1. Should freelancers always use hourly rates?
2. Does converting rates help with negotiations?
3. Can I use the same formulas for any currency?
4. What if I don’t know how long a project will take?

Freelancing gives you the freedom to choose your clients, set your own fees, and build a career on your terms. But with this freedom comes one responsibility many freelancers overlook: understanding and converting your rates properly.

Whether you charge per hour, per project, or per day, converting your rates into different formats (hourly, daily, weekly, monthly, annual) gives you clarity, protects your income, and helps you price your services competitively.

In this guide, we’ll break down why converting your rates matters, how it affects your earnings, and how to calculate conversions easily.

Freelancers often deal with different clients, different currencies, and different pricing models. This makes it essential to understand your true hourly and daily value.

Here’s why it matters:

Not converting your rates may cause you to undercharge without realizing it.

For example:

If your goal is ₱500/hour, you're losing money.

Some clients offer:

  • Hourly rates

  • Per-project rates

  • Retainers

  • Per-day rates

  • Weekly or monthly contracts

To compare them fairly, you need to convert everything to a single format—usually hourly or daily.

This prevents confusion and ensures you pick the most profitable option.

A big mistake freelancers make is accepting a flat fee without checking how much time it realistically requires.

Example:

This might be far below your ideal rate.

Having clear converted rates allows you to structure your offers like a pro:

  • Hourly rate

  • Daily rate

  • Weekly rate

  • Monthly retainer

  • Per-project pricing based on estimated hours

Consistent pricing builds trust and makes negotiation easier.

Want to earn ₱50,000 per month as a freelancer?

Convert that into daily and hourly targets.

This tells you:

Clients abroad may pay:

  • USD/hour

  • EUR/day

  • GBP/project

Being able to convert:

  • currencies

  • hourly ↔ daily ↔ project rates

…helps you avoid mistakes and ensures you're charging fair international rates.

By converting your rates, you can easily calculate fees for:

  • Revisions

  • Extra tasks

  • Additional hours

  • Urgent deadlines

Example:

Simple, clear, and professional.

Here are the essential formulas:

(40 hours = 5 days × 8 hours)

Manual computation works, but using an Income Converter Tool is:

✔ Faster

You simply enter one amount (hourly, daily, monthly, etc.) and everything converts instantly.

You're targeting ₱400/hour.

If $10 ≈ ₱580

Good offer.

Estimated time: 50 hours

Required project price:

This is fair — exactly your goal.

Calculate hourly:

Monthly → Daily:

Daily → Hourly:

If your target hourly rate is ₱300, this retainer is too low.

Not always. Project-based pricing is often better—but you should still convert to understand your true earnings.

Yes. Clients respect freelancers who know their numbers.

Yes. Conversions are based on time, not currency.

Estimate the hours, multiply by your hourly rate, and add buffer time.

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