Free video compressors, which work to output file size?

I currently use Handbrake to compress oversized video files. It's very good, but I find myself having to run a few test outputs to find the best balance between size and quality. But, maybe that's just best practice anyway.

I would like to have a function where you can specify an output size (plus a few other parameters), and it just does the rest. Freemake Video Converter has a pretty good interface and does this, but it requires a subscription.

Can anyone recommend any good free video compressors for Windows, which have an output size option?