Tag / Rate

by caitlyncallahan14

setting your rate

If you’re just starting out, you may be wondering how to get started with setting a rate that’s not too low and not too high. Or, perhaps you’ve been working for a while but need to re-evaluate your existing rate.

Either way, determining what to charge people for your work can be a stressful decision. If you don’t charge enough, the work isn’t worth your while and you’re cheating yourself. If you charge too much, you may have a hard time landing clients (especially if you’re just starting out).

You love your work, and it’s important to get appropriately paid for it. Finding that sweet spot is key, and there are a few things you can do to make sure you hit it.

  • Set a savings or salary goal. If you’re not freelancing full time, but want to make it a viable side hustle, start by setting a savings or salary goal. For example, maybe you started a separate bank account for your side hustle and you want to save $5,000 in six months. Or, you’d like to make $25,000 per year. Divide the goal you have by the number of hours you’d ideally like to work each year, which will give you an average hourly rate. Or, think about how many projects you’d like to complete, and how much you’d have to charge per project to get to that goal.
  • Calculate your minimum amount to get by. If the ultimate goal is to freelance full time, you’ll need to do some additional math to determine how much your rate should be.

    First, add up all of your monthly payments, such as rent/mortgage, utilities, car loan, student loan, etc. Then, add how much you spend per month on other expenses such as groceries, entertainment, gas, etc. Include a monthly amount to put directly into savings or an emergency fund (experts suggest having 3-6 months of savings in an emergency fund). This is your minimum amount per month. Multiply by 12 to get your minimum annual income, and go from there.
  • Do research. Search online how much other freelancers charge for their rate. Read about how they determined that rate. Find freelancers who do similar work to you so you have an equal comparison.

    Keep in mind they may be more experienced than you, and their rate reflects that, so starting out that may not be reasonable for you. But understanding what others in your field charge can give you a great place to start.
  • Determine whether you’ll charge hourly or per-project. There are pros and cons to both, so include learning about this in your research to help you determine which may be right for you.

    Something I read to help is “Price the client, not the project, charging for your expertise rather than your time.” Only you know whether you’ll get the best return on your time by charging hourly or per project. Sometimes, it may depend on the client or the project. Be prepared with a rate for both.

    TIP: Regardless of how you charge, always track your time. By knowing how long projects take you, you’ll be better prepared to estimate how much to charge for future projects.
  • Be flexible. You may find it helpful to have a range of rates you would accept for a job. Propose a rate that makes sense for the position and for the client. For example, you may propose a higher rate if it’s a large, national client who likely has a lot more money to spend on a contract compared to a small, local start up. Either way, don’t propose or bid lower than is worth your efforts. Whether you’re charging per hour, per word, or per project, have your average rate but also have a minimum you’d go if you have to negotiate.
  • Negotiate. Stand up for yourself, and don’t be afraid to be negotiate if a client proposes a rate lower than what you’d ideally like. This is why it’s important to have a range of rates you’d accept. Personally, in most of my proposals I include a line like “I’m willing to negotiate a per-word or per-article rate,” leaving the door open to talking with the client instead of them turning me down right away because my rate is too high.

    A good relationship with a client is built on a solid foundation of communication and trust. Work with the client up front, especially if you are very interested in the client or project, to make sure you both benefit from the relationship.

    That being said, if a client won’t go above a certain rate, and it happens to be lower than your range, don’t be afraid to tell them you can’t accept that rate. Even turning down contracts can beneficial for both of you in the long run.

How did you determine how to set your rate? What do you charge? Do you have any tips for negotiating rate?

Share in the comments below!
by caitlyncallahan14

you get what you pay for

This post is for both freelancers and clients who hire freelancers.

Putting in all caps for emphasis: YOU GET WHAT YOU PAY FOR.

Many times throughout my freelance career, I’ve found myself shocked at the work people request for the rate they are requesting. For example:

10 posts per week
1,000-2,500 words per post
Must provide topic ideas for approval, outlines, and full articles with headings and keywords
Extensive research required
Will run through Grammarly for grammar and originality
Written for SEO rankings
Must be available for additional rounds of edits
Must be able to post to WordPress, format, and add images
$10 per article

Guys, I can’t make this up. That was a real job posting. Someone looking for an expert, who can provide topics, outlines, and full, well-researched and formatted 1,000-2,500 word articles, then post and format them on WordPress with images, for $10 per article…

Here’s another one (summarized):

500-750 words
Minimum 2-3 citations
English native language and located in U.S.
PLEASE BE EXPERT LEVEL AS I HAVE POSTED. Please don’t waste either of our time.
Every piece proofread through Grammarly
Work must be all original, have the proper flow, and be on time. Most assignments are due in 1-3 days.
I am looking expert writers, please. This post is going under the expert level, so please, please have that qualification.
$25 per article

Now, don’t get me wrong, someone will take that job. But let me be clear to this job poster: you will likely NOT be getting an expert. Because while someone just starting out or in need of a client may accept job that because it’s not a bad rate, for as important as an expert is to you, your chances are much smaller that you’ll get one.

I’ve seen rates of $1 for 100 words, $5 per hour, or $10 flat rate for 2,500+ words — all tagged at the “expert” level.

Again, for those in the back who may have missed it: YOU GET WHAT YOU PAY FOR.

If you are offering an extremely low rate, you will not be getting an expert writer. Because experts know they are experts and know what they are worth, and I promise it’s more than what you are offering.

I’ve had clients turn me down because my price is too high, and then come back six months or a year later saying their other hire didn’t work out and wasn’t providing the quality of work they need. While I truly don’t believe I charge too much for what I provide, you may not get what you need from someone who charges less.

Now, don’t get me wrong, there are plenty of freelancers out there who provide excellent work for a low price. Perhaps they are just starting, building their portfolio, or they are only freelancing as a side hustle and don’t really worry about the rates. That’s wonderful, and I applaud you for your efforts and work.

However, to my fellow freelancers – don’t underestimate yourself, and charge what you are worth.

While you may have to re-define your job search terms, spend more time searching and/or submit more proposals, the client who hires you at the price you are worth is worth it in the end.

I remember when I first started, I took on a client who was paying me $20 an hour. With Upwork fees, I was only making $16. While the client was wonderful and I loved working with him and his team, I would spend hours writing a piece (due to research and length requirements) and only make maybe $100 (even though I knew it was worth more around $300-400 for the length and effort). I was just starting, thrilled to have a client, and taking whatever I could get to build my portfolio. And, I didn’t believe I could charge more.

Today, I have a client for whom I spend around 1-1.5 hours per piece, and I make $200 for each one.

I’m not telling you this to brag. I can’t express how thankful I am for my clients today. I assure you I spent the same amount of effort, and provided the same quality and excellence with both of those clients. I’m still proud of the work I produced for both, and am happy to share both in my portfolio. But only one was more willing to pay for what the work was worth.

To clients: If you have insane job requests, are looking for an incredible amount of work, and/or want expertise and high-quality writing, please pay your freelancers for it. If you won’t, don’t be disappointed when you don’t get what you’re looking for, have to spend hours on rounds of edits, and/or get frustrated with your relationship with your freelancers.

To freelancers: Spend the extra time to find that right client who will pay what you deserve; however, your rate should reflect your experience, quality and expertise. If you aren’t an expert, don’t charge as one. Find somewhere in-between until you build your portfolio and confidence. Either way, don’t get discouraged, work hard, and keep building relationships. You’ll find that right rate in the end.

If you’re currently a freelancer, how did you set your rate? Any advice for those just starting out? If you’re a client, how do you set your price for work? What do you take into consideration?

Let us know in the comments!