Careers and pay
Day rate
What a contractor or consultant charges for each day they work.
A plain-English explanation, not financial or tax advice. Rules and rates change, so check your own situation. For free, impartial guidance, try MoneyHelper. Disclaimer.
You'll hear it as
The day rate's £600, outside IR35.
Why it matters to you.
To compare a day rate with a salary, multiply it by the days you'll actually bill. That's rarely more than about 220 a year once holidays and gaps between contracts come off. Then remember there's no paid holiday, sick pay or employer pension on top.
Related terms.
Videos.
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