What is the Calculated Hero Day Rate?
When a freelancer or studio (referred to as a "Hero") submits a quote on CGHERO, you might notice a "Calculated Hero Day Rate" displayed. This is designed to give you a clearer understanding of how the quoted amount relates to the time estimated for completing the work.
How is the Calculated Hero Day Rate Determined?
The Calculated Hero Day Rate is an estimate of how much the Hero would charge per day based on their total quote and the time they expect to spend on the project. It provides an easy way to compare different quotes and understand what each Hero’s time is valued at.
Here’s how it works:
Total Quote Amount: The full price the Hero has quoted for completing the project.
Estimated Completion Time: The number of days or hours the Hero believes it will take to finish the project.
Formula: The total quote amount is divided by the estimated time, which results in the day rate.
For example:
If a Hero quotes $2,000 for a project they estimate will take 5 days to complete, the Calculated Day Rate would be $400/day ($2,000 ÷ 5 days).
This metric helps you understand how the overall project cost aligns with the time commitment, giving you transparency into the Hero's pricing structure.
Why is the Calculated Day Rate Important?
Clarity: It allows you to see how different quotes compare in terms of time and cost.
Informed Decision-Making: By breaking down the cost into a day rate, you can better evaluate the pricing relative to the scope of work and the Hero's experience level.
Keep in mind that the Calculated Hero Day Rate is just an estimate and doesn’t necessarily represent the Hero’s standard rate for all projects. It's specifically calculated for each quote based on the unique requirements and time involved in your project.