I often get phone calls from enthusiastic event planner hopefuls poking around for information on what to charge their clients. This formula was given to me long ago from an event professional, and I in turn pass it on. I hope it comes in useful but more importantly, be realistic in the pursuit of making top dollars in this competitive industry before you have the proper training and experience.
Play with this formula, along with your expertise; you should be able to determine a reasonable fee that calculates your worth.
Your Highest Annual Salary (or what you would like to make) __________________
Divide by 50 (weeks per year)____________
Divide by 5 (work days per week) __________
Multiply by 2.5 (for expenses) _____________
For an hourly rate, divide by 8 ________________ (round up to the next $5 for the min. daily rate)
Total ____________ (round up to the next $1 for min. hourly rate)
Per Diem_____________
Hourly Rate __________
