Prepare a budget

Many funding bodies require a detailed budget to assess your application. Here, you can get help to prepare an accurate budget and increase your chances of approval. 

Template for making a budget

The budget template helps you calculate relevant project costs, including salaries for different staff categories, project supplements, overhead, and other eligible expenses. 

When should I prepare a budget?

Prepare your budget early in the application process to ensure that it aligns with both your project description and the fund’s requirements. 

The budget must be finalized and approved before you submit your application.  


What expenses can be covered?

✅ Commonly covered expenses:

  • Salaries for researchers (VIP) and technical staff (TAP) 
  • Research equipment and materials 
  • Travel expenses 
  • Dissemination and publication 
  • Overhead (if permitted by the fund) 

❌ Commonly not covered expenses:

  • General operational costs 
  • Expenses not directly related to the project 
  • Already incurred expenses 

Salary costs for researchers and staff

What does it cost to employ a TAP, PhD, Postdoc, Assistant Professor, etc., in the coming years? 

Consult the salary table Hvad_Koster_En_2024-2031.pdf for average cost levels. 

 

For named participants, always use actual salary costs when possible.  

The table shows average cost rates. When participants are named, you should, as far as possible, use their actual salary costs in your budget.

✔️ Checklist: How to prepare a research budget

1. Preparation and overview

  • Review the fund's guidelines for budget requirements 
  • Define the project's duration and milestones 
  • Identify the total project costs 
  • Clarify any co-financing requirements 

2. Personnel costs

  • Specify salaries and include social costs (pension, holiday pay, etc.)
  • Calculate fees for external experts
  • Include costs for PhD or postdoc positions 

3. Equipment and materials

  • List necessary laboratory and research equipment 
  • Include software licenses and databases 
  • Estimate costs for consumables 

4. Travel and conference expenses

  • Plan participation in relevant conferences and seminars 
  • Calculate expenses for fieldwork and research trips 

5. Publication and dissemination

  • Budget for open access publications
  • Calculate costs for printing and distribution
  • Include expenses for dissemination activities, e.g. workshops or webinars

6. Indirect costs (overhead and project surcharge)

  • Clarify the fund’s rules for indirect costs.

7. Other costs

  • Assess the need for external consultants
  • Include any administrative costs

8. Co-funding

  • Co-funding refers to the financial contribution provided by your institution or other external sources to the project. This often includes: salary funding for academic and technical staff, as well as operation and maintenance of equipment.
  • Ensure that the co-funding covers actual project costs and is proportionate to the scope of the project.
  • Some funds require a certain level of co-funding before they will award a grant to your project.

9. Quality assurance

  • Review the budget for errors and omissions
  • Ensure that the budget items align with the project description
  • Obtain approval from relevant institutional units

10. Final review

  • Compare the budget with the fund application’s requirements
  • Ensure that all amounts are correctly totaled

Tips and good advice💡

  • Start early and think holistically. The budget should support the project’s content, timeline, and objectives.
  • Use realistic rates. Check salary levels, material costs, and travel expenses.
  • Use the budget template and rate catalog. They can help ensure correct calculation of, for example, staff costs and overhead.
  • Adapt the budget to the fund’s requirements. Use the template or structure requested by the fund.
  • Include both direct and indirect costs. Consider everything from dissemination and data storage to project management and ethical approvals.

Evaluation checklist ✅

  • Has the calculation of salaries, holiday pay, pension, overhead, and any buyout been done correctly?
  • Are all necessary purchases and consumables included?
  • Have funds been allocated for transport, accommodation, and conference participation – both nationally and internationally?
  • Is there a budget for graphic design, open access fees, or reporting?
  • Have costs for ethical approval, data protection, licenses, and archiving been included?