Feature

Wage Analysis for Makers

Find out what you are actually earning per hour. Then choose a better number.

Your effective hourly wage is the net profit from a product divided by the time it takes to make it. It reveals whether your pricing fairly compensates your time. If your effective wage is below minimum wage, your pricing model needs attention.

The wage blind spot

Most makers can tell you their sale price but not their hourly wage. That is a problem because sale price and hourly wage are not the same thing. A product that sells for £40 might earn you £8 per hour after materials and fees. Another product at £25 might earn £22 per hour if it is quick to make.

If you do not know your wage, you cannot tell which products are worth your time.

Three wage benchmarks

MakerTools shows three numbers for every product:

• Current wage. What you earn per hour based on your current price, after materials and fees. This is your starting point.
• Minimum wage. The lowest hourly rate you set as acceptable. If your current wage falls below this, the product needs attention.
• Target wage. The rate you are working towards. This might be the UK living wage, an industry benchmark, or a personal goal.

By comparing these three numbers side by side, you can see at a glance which products are paying you fairly and which are falling short.

From wage to action

Once you see your wage gap, you have three ways to close it: raise the price, reduce material costs, or reduce construction time. MakerTools shows which route has the biggest impact for each product.

A small price increase on a slow-selling item can matter more than a large increase on a fast seller. Wage analysis takes the guesswork out of that decision.

Wages and discounts

Discounts have a direct effect on your wage. A 15% sale might seem minor until you see it cuts your hourly rate below minimum wage. The discount planning feature in MakerTools connects directly to wage analysis so you see the combined effect before you run a promotion.