Last week we covered elements of knowing your worth as a contractor. Especially when it comes to day rates. This week is the second part to help y’all think about project rates and day rates.

I want to start off by saying that I did do my research on this. And it was a f*cking mind-field. Conflicting advice. Complex “systems”. Of course it wasn’t going to be simple. This is what annoys me about running a business. Someone, somewhere (probably a middle-aged-white-man) came up with a complex methodology to make the simple seem hard. I know some of you relate to this or have even been put off thinking about putting numbers on the table because you haven’t know where to start.

But after the end of this article, you’ll be ready with your numbers. Knowing your worth. Making that cash-money. Ready? Let’s go.

This has been my approach.

Over the years I have found that I have needed to either charge an hourly rate and/or a project rate. Confession: When I was starting out, I seriously undercharged. I was misguided and naive. I wasn’t sure what was right. And I am NOT going to let you do that.

So, here is how I now figure it out. Btw - this is all invoiced via my Limited Company/Outside IR35. No umbrellas here.

Hourly rates:

• Day rate is £500.

• A day being 7 hours.

• Maths: 500 / 7 = £71.42. (I would always round up, so that would £75 p/h).

Summary. If the day rate is £500. I would charge £75 per hour.

Project rates:

I would always raise the price if the project has a rapid turnaround or generates significant revenue for the client - I would add around 10% to 15%. If I am going to be hella stressed to get this done, I need that reflected in the reward. AKA payment.

I always add a buffer for scope creep. Even with a statement of works (SOW) in place, I always add 20% to 30% extra for unexpected revisions, client feedback, client contacting me outside of scheduled time with this (because you know they will) and, yeah, scope creep.

For example I advised a web designer: If a website build takes 20 estimated hours at £60/hr (£1,200), add a 25% buffer for scope creep (£300) to land on a £1,500 project rate.

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Don’t forget to factor in your own expenses

This is where it can get a little complicated. The above is the simplest way to break down the numbers and add in those contingencies. But - there are a few things I invite you to consider:

• How much do you need each month to cover your bills?

• How much per year are your accountancy costs?

• Don’t forget insurances.

• Do you pay into a pension? (You should be).

• Do you want your business to contribute to your private health care?

• Do you need to invest in new phone? Laptop? Car?

Here’s your action: Do your calculations on how much out-goings you’ve got sliding through your accounts on the regs. I suggest doing this across a monthly and a yearly view. Then once you’ve done that, take another look at those rates. You might find you need to add an extra 5% to 10% to cover the cost for to actually run your business.

How did you get on? Leave a comment and let us know.

And, just like how I ended last week: Knowing your worth and charging the correct amount sets your contracting career up for success. Sure there might be times where you might take less, perhaps for exposure or learning or opportunity. Always weigh up risk vs reward.

Do the work. Know your worth. Be ready to negotiate (another letter/article on that in a few weeks).

Keep smashing those glass ceilings.

Lucy xo

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P.S. come and sign up to one of our free events.

October:

• Wednesday 14th October. 11am UK time. Part of Women in Tech Week: The Glass Ceiling Called. Have you Considered Contracting?

• Wednesday 21st October.18:00 UK time: Will AI help or hinder us?

• Wednesday 28th October: 17:30 UK time: The Green Room: How Clients Actually Find (and Choose) You

November:

• Friday 13th November: 12pm UK time - Fractional and Contract Work: Where's the Next Client Coming From? With me and Rina Gohel.

• Wednesday 25th November. 17:30 UK time: Roundtable - You bring the questions. We will provide the answers.

Now we’ve officially moved across to the wonderful world of Substack - this also means the cadence of the newsletters will be changing. And changing for the better. How does a Women Who Contract: Weekly Wednesday Digest sound? Ok, I know it is a bit of a mouthful. But you get the gist of the digest.

Each week I’ll be:

1. Covering a topic - anything from personal development to business strategy to freelance financials (and yes, I will be taking requests).

2. Answering real questions that’s come up in the community.

3. And, sharing what’s coming up so you never miss an event.

The original monthly emails served a purpose. But now on, this platform, where I am hoping to build a stronger community, that approach feels quite redundant.

So let’s kick start this edition with knowing your worth.

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Knowing your worth, sets the tone for your contracting career.

September seems to be giving an energy of opportunity as LinkedIn seems to be popping with ‘I’m Hiring’ content. It really does appear as if companies are on their recruitment drive for temporary staff before we enter into the Christmas period.

But just because they are hiring, it doesn’t mean they always have the budget. Over the summer I had a number of offers and opportunities landing on my desk. This isn’t a humble brag. It is fact. I have personally built a network to be in this position. And hence why I launched this community. I want to share piece of that pie - thus I am also hosting a free session: ‘The Green Room’ next month covering the visibility. Hope to see you there.

Anyways, I noticed something rather alarming.

The day rates for some of the roles were below the average to what we typically see in the UK.

When I say average, I know that freelance and contract day rates in the UK vary broadly across sectors. Standard corporate sectors like Tech(bros), (man in) Finance, and Management Consulting command the highest premiums due to things like specialised technical skill shortages, while Creative, Agency, and Construction fields have wider variances depending on the project scope and location.

(Yes, funny how the white, middle class, male dominated fields seem to have higher premiums - hmm, grumble, curse).

So here’s a Google Gemini made Matrix, to give you a bit of a flavour:

Inside or Outside IR35 (UK)

Inside IR35 and Outside IR35 rates are not equal. If an employer offers you the exact same day rate for both options, the Inside IR35 option represents a major pay cut.

Because Inside IR35 contractors face heavy payroll deductions, they should look to command a premium rate to match the financial efficiency of a standard corporate B2B structure.

To maintain the exact same take-home cash after taxes, an Inside IR35 day rate must be 25% to 30% higher than an Outside IR35 rate. This premium accounts for the shifting of employment taxes and the loss of corporate tax allowances.

This ‘ere table below illustrates the standard market adjustments required to match net earnings:

Still with me? Good.

And because I’m not about leaving people out, here’s a more global view:

🇺🇸 United States: The US contracting market rarely negotiates in “day rates,” overwhelmingly preferring hourly billing. Because of massive corporate budgets, specialized US talent commands the highest baseline rates globally.

• Average Range: $400 to $1,200+ per day equivalent ($50 to $150+ per hour).

• The Dynamics: High-demand roles like Technical Project Managers and specialised Tech Writers easily stretch toward $1,000+ per day. However, contractors must fund their own expensive benefits (like private health insurance and 401k matching), inflating the base rates required to thrive.

🇦🇪 United Arab Emirates (Dubai): The UAE operates as a highly lucrative, regional executive hub where contracting has surged significantly. Rates track roughly 20% higher than the UK for local regional clients.

• Average Range: AED 1,500 to AED 4,000+ per day (£320 to £850+ / $400 to $1,100+ per day).

• The Dynamics: Mid-level project managers and marketing specialists start around AED 1,500 to AED 2,500 per day, while senior strategy consultants and top-tier product leads routinely scale past AED 3,600+ ($1,000) per day. The massive draw here is the 0% personal income tax framework, making take-home pay exceptionally high.

🇪🇺 Europe: Europe cannot be treated as a single entity; it is heavily split by region, local cost of living, and localised labour laws.

• Average Range: €350 to €850+ per day (highly localised).

• Western Europe & DACH (Germany, France, Netherlands): Command premium rates. Freelance invoices frequently run €600 to €800+ per day for senior corporate/tech capabilities.

• Eastern Europe (Poland, Czechia, Romania): Serves as the premier “nearshore” hub. Highly qualified BAs, developers, and writers charge highly competitive rates tracking closer to €250 to €450 per day, presenting immense cost-to-quality value for international brands.

Reference: All the above info was found via Google Gemini. Sept 2026. If you know of anything to be different, please comment and share your knowledge:

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Where does that leave us?

The work I do across Change and Communications - I know that the typical Inside IR35 day rate is roughly £650 per day. Outside can be £500 to £550. If I am doing a more consulting engagement (Outside IR35), I can level up that day rate. If something is a bit more admin led, I can flex.

I have a strong portfolio of work with references. I know the money I’ve saved teams, the impact I have made and examples to share. You need that too. Not just for your CV to standout or to excel in an interview - but to also be able to demand your worth.

So you can imagine my absolute horror when I got offered an inside IR35 role at a rather senior level at rather big and global consultancy firm at £350 p/d. Even when I challenged it, the response was ‘this is the budget’. So, as much as I would have loved the role, I had to say no. Because I know my worth. I also know when someone is taking advantage.

Last week, I had another recruiter contact me for another Change Manager role at £450 p/d inside IR35. A senior PM who I work closely with also told me how she was offered a role that £300 below her average day rate. Ugh. No.

So here’s something you can do. Spend time over the coming months researching the roles that you do, look at the different salaries, day rates and consulting fees. The ones that are offering ‘more’ - how much of that job spec do you know that you can do with your eyes closed? How much of it would be learning on the job? Do you need to upskill?

And once you have all your research in one place. Create your own average day rate table for:

• Inside IR35

• Outside IR35

• Project (as in a total cost to deliver something)*

• Hourly, that can used for international clients or fractional.*

*I’ll cover fractional and project rates next week. I don’t want to overwhelm you with too much information all at once. Please do get in touch if you charge your clients by project or hourly rates, I would love to use your feedback and experience in the letter next week.

Knowing your worth and charging the correct amount sets your contracting career up for success. Sure there might be times where you might take less, perhaps for exposure or learning or opportunity. Always weigh up risk vs reward. It is also worth noting that one person really might need that average pay to cover their bills where another might be able to afford to take a little less. So, it isn’t always black and white if you’re comparing against your peers.

Do the work. Know your worth. Be ready to negotiate (another letter/article on that in a few weeks).

Keep smashing those glass ceilings.

Lucy xo

Join me and other community members this Friday at 12pm UK Time for the September Roundtable 🪩

P.S. Just in-case you missed it: I pulled together the full collection of previously shared Coaching Content and Activities. You can find all that here ↓

Refer a friend

How are you finding our new home?

Don’t fret if you’re finding it a bit a confusing. I’ve got you.

Firstly, you can find the approved content via following links:

• Get Started Here

• Get the Substack App Here

• Need some more help? Ask the Help Centre

Secondly, here’s a 4 minute video from me explaining how to use Substack.

The main reason I wanted to move to Substack was so I can communicate with you all. I had found that the newsletter I was sending was hitting your mailbox’s but I didn’t know whether it was landing. We have the amazing WhatsApp group, but I also didn’t want others to be cut off. This is why we are here. We can start using the chat function to talk, ask questions and navigate the world of contracting. Please do take a moment to join the chat. Introduce yourself. Tell us how we can support you.

Lastly, you will still get emails from Substack even if you do not have a formal password-protected Substack account.

How Substack Subscriptions Work Without an Account

• Email-based subscription: Entering an email address on a publication’s subscribe page is all it takes to receive newsletters.

• Automatic account creation: Substack automatically creates a basic underlying account for that email address once you subscribe, but you do not need to log in, set a password, or use the app to get new posts.

• Delivery: Every new post published by that creator goes straight to your inbox.

How to Stop the Emails

If someone wants to stop receiving these emails without creating an account, they can use the link at the bottom of any newsletter.

• Unsubscribe link: Scroll to the very bottom of a Substack email and click the Unsubscribe link.

• Confirmation page: Follow the prompts on the webpage that opens to opt out of that specific publication or all Substack mailings.

If you are trying to stop getting newsletters from a specific writer or manage your inbox, let me know if you need help finding the unsubscribe link or blocking the sender.

Although I really hope you don’t leave. This is just for reference.

Looking forward to talking with you soon.

Lucy xo

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As promised, I wanted to share with you all the useful snippets from previous newsletters. In this published post (which I did not send to you all via email, as I wanted to protect your mailbox) you’ll find four tools that you can refer back to.

Take care, Lucy xo

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A little learning: self-sabotage check-in

Since we’re on the subject of hiding your best work... Let’s look at self-sabotage:

You know the moment. You’ve just landed the extension, or the rate rise, or the reference that proves you’re brilliant at this. And instead of sitting in it for five minutes, you’re already bracing. Wondering if they’ll notice you don’t actually know everything. Triple checking the invoice. Saying yes to scope you didn’t quote for because saying no felt riskier than the burnout.

That’s not just imposter syndrome showing up again. That’s a saboteur, and contracting gives them a lot to work with.

Positive Intelligence work (Shirzad Chamine) calls it the Judge, the inner voice that finds the flaw first, in you, in the client, in the contract you should have negotiated harder. It brings friends. The Hyper-Achiever who can’t let a good gig just be a good gig without immediately chasing the next one. The Hyper-Vigilant one already scanning for when this contract ends, even in week two. The Pleaser who over-delivers because being needed feels safer than being paid what you’re worth. The Controller who won’t hand anything off, even when the workload’s unsustainable. The Avoider who “means to” raise the rate conversation and never quite does. The Stickler who reworks the deliverable four times past done.

For contractors, these aren’t quirks. They’re the reason brilliant women undercharge, over-function, and burn out on contracts that should have been the good part. The instability of the work makes the saboteurs louder, and the saboteurs make the instability feel worse. That’s the loop that has to break if this is meant to be sustainable, not just survivable.

Sit with these for a second:

• Where in your business or your day rate are you making yourself smaller than the evidence supports?

• What would you do differently this week if you fully believed you were good enough already, not “good enough once X happens”?

• Whose voice is that, really, when you talk yourself out of pitching for something?

No need to answer out loud. Just notice.

Information, information, information.

Now we’re getting into the swing of things, I wanted to share with you a few bits of key info each month. Firstly, for the newbies and those unsure on IR35, here is a snapshot.

Personal Development Coaching Tool: Mid-year goal setting.

The Transformational Goal Process (Using the Wheel of Career / Life.)

This process uses a twist on the classic “Wheel of Life” - we’re focusing purely on career.

Step 1: The Wheel of Career – What’s Really Going On?

Split your career into eight segments to explore where you’re thriving and where things feel stuck. You can do this visually as a circle, or list them out.

Here are some (further) suggested segments:

1. Fulfilment: Does your work energise and mean something to you?

2. Growth & Learning: Are you stretching and developing new skills?

3. Money & Rewards: Are you earning what feels fair and supportive?

4. Work-Life Blend: Do you have time for life outside work?

5. Values Alignment: Does your work reflect who you are?

6. Purpose & Direction: Are you heading somewhere that feels right?

7. Confidence & Presence: Are you showing up powerfully?

8. Environment & People: Do you feel safe, seen, respected?

Score each out of 10.

Then ask: Where is the biggest gap between where I am and where I want to be? Which area, if it shifted, would have the biggest positive impact on everything else?

This becomes the anchor for your transformational goal.

Step 2: Set a Transformational Goal

Now craft a bold, identity-based goal that reflects the future version of you – the one who’s already living this change. Use the language of becoming.

Start with “I AM…”

Examples:

“I am a sought-after consultant who sets my own schedule and earns with ease.” “I am the creative director of a brand I believe in, and I wake up excited.” “I am a confident, visible leader in my field, known for my ideas and impact.”

This isn’t about the how yet. This is about claiming it. Feeling it. Owning it.

Step 3: Break It Down – Objectives

Now let’s turn that big goal into 3-4 clear objectives. These are milestones — things you can measure and check in on.

Example goal: “I am a confident, visible leader in my field, known for my ideas and impact.”

Your objectives might be:

1. Build a clear personal brand and online presence.

2. Speak at one industry event this year.

3. Launch a thought leadership series (e.g. podcast, blog, newsletter).

4. Develop inner confidence to handle visibility and pushback.

Step 4: Smaller Steps – Make It Doable

Break each objective into smaller actions. Keep it real, keep it human. You’re not a robot. These should be things you can actually do, even on tired or self-doubt-y days.

Let’s use Objective 1: Build a clear personal brand and online presence.

Smaller steps: Book a 2-hour session to define your niche and message. Write your bio and update your LinkedIn. Start showing up weekly on your chosen platform. Engage with 3 people per week in your space. Set a monthly review to track progress.

Step 5: Timeframe

Don’t rush it, but don’t drift either. Set clear windows.

Break it into phases:

Month 1–2: Discovery & foundation Month 3–4: Visibility & output Month 5–6: Stretch goals & evaluation

*Hint, at the end of this book, I have created a 180 day journal prompt for you, which will help you build some of this out.

Use a calendar. Block time. Honour it like you would a client.

Step 6: Resources – What Will You Need?

You’re not meant to do this alone. What will support you?

A coach or mentor Time blocked out weekly Budget for training or branding Supportive community or accountability group Tools (e.g. website, planner, Canva, etc.)

Also: energy, patience, self-belief. Build rituals that protect and top those up.

Step 7: Threats & Roadblocks – Name Them

We all hit walls. Let’s name them early and plan for them, without judgment.

Potential threats:

Self-doubt and imposter syndrome Other people’s opinions (especially if you’re changing lanes) Lack of time or boundaries Comparison or perfectionism Money fears

Build your response plan:

Who will you call when doubt kicks in? What’s your plan when you fall off track? What boundaries do you need in place?

Step 8: Loop & Reflect

Set monthly check-ins to reflect:

What’s shifted? What’s working? What feels sticky or misaligned? What needs tweaking?

Transformation is messy. It’s rarely a straight line. Stay in the loop with yourself... this is an evolution, not a sprint. You don’t need to know every step. You just need to know what’s calling you and commit to becoming the version of you who answers it.

So, go back to your “I AM” statement. Sit with it. Say it aloud. Let it start to feel true.

And then... take the next small step.

P.S. Share you I AM statement with us in the Community Forums! I’d love to hear how you got on.

Ideas: Other ways to make money as a contractor

Last month I shared a coaching activity for your personal development, this month I am here to give you some ideas for your business development:

So, hands up if your entire income right now depends on one client. One contract. One hiring manager not changing their mind.

Yeah. That’s a lot of us.

And look, there’s nothing wrong with a good day rate. That’s why we’re here. But I want to talk today about what happens when we stop thinking of ourselves as people who sell time, and start thinking of ourselves as people who have something genuinely valuable to offer - in more than one way:

1. Turn your network into a revenue stream - Referrals and associate work are the most underused income streams in contracting. Ask specifically, arrange referral fees, and remember your network isn’t just support - it’s potentially your supply chain.

2. Sell your knowledge, not just your time - Training, workshops, and writing are all ways to monetise what you already know. Clients often have separate budgets for learning and development that are easier to access than contracting headcount.

3. Package what you do into a product - A fixed-price audit, a toolkit, a framework... anything with a clear scope and a defined output can be priced on value rather than hours. That’s a product, and products scale in ways that timesheets don’t.

Here’s your homework: Out of these 3, pick one and give it go for July. Let us know how you get on. What worked well? What didn’t?

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I wanted to give you an exciting update as well as a first look at what’s evolving for the community. I’m not planning a big reveal on social media, but as a comms professional it would be remiss of me not to tell you brilliant lot first.

So. Six things, plus a P.S. (of course there’s a P.S.)

One. The name is changing. Women in IT Contracting is becoming Women Who Contract. I started this because I was tired of the wealth and opportunity gap in tech. Then we grew, and I kept meeting women outside tech telling me exactly the same story. It is an IT and digital problem, absolutely. It is also much bigger than that. The door felt too closed on women who would get just as much out of this as we do. And given how many of you are generalists, multi-passionate and have portfolio careers, this felt like the right move.

Two. The WhatsApp group stays, but it becomes invitation only. Going forward that means people I have actually spoken to, or anyone currently in the WhatsApp group can recommend other women are able to join. Your safety matters more to me than the headcount.

Three. The mailing list and community are moving to Substack. And here’s the first one. You don’t need to do anything, I’ve exported your email across from Kit. I will be decommissioning the Kit newsletter this month. There’s a resource hub over here too, so come and check it out. I’d like to use the chat feature for community conversation outside of the WhatsApp group, and I’ll record a quick how-to video next week for anyone who hasn’t used the platform before.

Four. Events. Monthly roundtables continue. I’m always open to someone else leading a session, and Rina Gohel and I have something coming very soon. Eek. As for in person events - I would like the community to grow in the UK. I’m equally keen to grow the platform to have more a global reach - this will come with time. I’ve already mentioned that I would organise an event in say Manchester or Leeds. Equally if we have a volunteer to host a Scotland event or Australia Event or Dubai event - I’m happy for that person to represent the community and lead it. Unfortunately, if you’re unable to get to the events in person at the moment there is not much I can do about that. This is why the virtual events are still the priority and are organised around different time zones.

A quick reminder that the next round table is this coming Friday at 12:30. You can grab your free seat here. I’m also running a session for Women in Tech Week: The Glass Ceiling Called, Have You Considered Contracting? It would be brilliant if you could join me and/or share the details.

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Five. There’s a new email address: community@womenwhocontract.com. The community gets its own front door instead of being tangled up with my business.

And last but not least, thank you. A huge one to Saira, Jill, Dave and David, who were my mini steerco this week and helped me cement what this next phase looks like. And to all of you, for backing me and the mission. I might have got us in a room together, but you are the ones who made it a thing. Thank you, thank you, thank you.

Six: For those who like to see things visually. I pulled together a vision board to give you a bit of glimpse inside the Women Who Contract (my) mind.

Next message will be with you this week with ‘How To’s’ and where you can find the previous coaching content from the previous Newsletters.

Lucy x

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P.S. The name change goes live across socials this coming week, so keep an eye out. The website is now just a landing page pointing to Substack, the rest will get updated soon. I’ll sort the LinkedIn group. If you spot something I’ve missed by the end of September, drop me a personal message. I think I’ve got it covered, but I is only hu(wo)man.