Day Rate


DEFINITION of 'Day Rate'

The price/cost of a particular service for a day's period. In some markets it is referred to as "per diem" (cost that an organization will pay for one days' work) and often translates to a 7.5 hour work day. Some purchasing organizations prefer a quoted day rate instead of an hourly rate for services.


Common examples of a day rate would be:

- the rate of pay for a day's manual labor by a worker
- the price for a hotel room when no overnight stay is required/utilized
- the quoted price for contractor work done onsite for a client

  1. Personal Finance

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    Income derived from active participation in a trade or business, ...
  3. Prime Rate

    The interest rate that commercial banks charge their most credit-worthy ...
  4. Remuneration

    Payment or compensation received for services or employment. ...
  5. Business Expenses

    Any expenses incurred in the ordinary course of business. Business ...
  6. Self-Employed Person

    An independent contractor or sole proprietor who reports income ...
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