Get a reliable idea of your new salary as a freelance IT consultant

This salary simulator gives you a reliable idea of what your financial compensation would be as a freelance IT consultant.

This is no guesswork, but it starts with my own actual costs and income.

Before diving into this simulator, I would like to emphasize that the reliability of this simulator is based on following elements:

  • for the first 9 years as a freelance IT consultant, I did my own payroll administration instead of outsourcing this;
  • in those 9 years, I also did the accountancy of my company all by myself;
  • moreover, I had this bookkeeping thoroughly reviewed by an experienced accountant every year.

That is why I am convinced that I am well placed to give you a reliable simulation of what your financial compensation would look like as a freelance IT consultant.

This salary simulator is an Excel spreadsheet with 3 tabs.

On the first tab of this simulator – “Input” – you can adjust the calculation to your own personal situation:

  • choose how many working days per week you will work as an independent IT consultant

  • choose how many days of leave you will take each year

  • choose which profile you are and how many years of relevant experience you have in your field of expertise

  • choose which monthly gross salary you assign to yourself as manager of your business

  • choose the catalog value, type of engine and the CO2 emission of your (new) company car

On the second tab of this simulator – “Financial statements company” – the financial statements are automatically made for your company of which you are the manager and shareholder.

On the third tab of this simulator – “Personal compensation” – you will find 3 automatically calculated sections:

  • section “New net personal remuneration as being self-employed”: the sum of monthly remuneration to manager and annual dividend to shareholder
  • section “Current net personal remuneration as being an employee”
  • section “Extra net salary as being self-employed versus being an employee”: the difference.

The following video briefly explains how to correctly use this salary simulator for freelance IT consultants.

Download the Salary Simulator for Freelance IT consultants for free

Does the result of this salary simulation show you that you could make a big leap forward financially? Feel free to attend a Highway2Freelance info session, no strings attached.

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