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What's My Time Worth
What's My Time Worth was written to quickly enable you to calculate the value
of your time you may spend on a regular activity. This can be used to determine
how much you'll earn, or much time you may be wasting on unproductive activities.
Time / Unit
Enter the time you spend on the activity and whether time is in minutes or hours. For example
if you do an activity once a day for half an hour you could enter 30 minutes or 0.5 hours.
Hourly Rate $
The hourly rate you enter is determined by what you are trying to measure. If you charge out
at an hourly rate then by entering your full hourly rate you can determine how much you'll earn, or
alternately how much your may have earned if the activity you are doing is unproductive and could
have been switched to productive activity. Another figure you may wish to use is the hourly rate
you'd be paid in a job. This figure shows what you'd get paid working for someone else and doing
the activity. The way I think of this is often when you're unproductive the time waste is at cost
as that is what you are missing out on. You just have to determine what approach to use. Be careful
however we have a tendency to skew figures in our favour or to make us feel better about wasting time.
Frequency
Enter how often you do the activity. For example if you spend five days a week working on social media
then you can use the 5 days, or M-F. The result is the same.
NOTE: Work Days is the number of days in the year less public holidays (Victoria), less weekends, less
20 days leave. This is usually considered the chargeable days for consultants. In this case selecting
48 or 52 weeks makes no difference.
Year
We all have to have holidays so a better estimate of time is to use a 48 week year. However the choice is
yours.
Productivity
Normally this value is left at 100%. If you'd like to use this calculator to work out chargeable time
taking into account a person's expected productivity you can enter an appropriate percentage.
yours.
Disclaimer
This calculator comes with no warranty expressed or implied.
The calculator is only for informational
purposes and is not guaranteed to be error free.
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