5 Tips on How to Choose Your Freelancing Rate
Learn how to choose the right rates for your services and market
I’ve always hard time determining my rates as a freelancer, you never want to be lowest bidder and you will often lose out if you are the highest bidder.
I’ve put in a decent amount of hours as a freelancer and taken on several different projects at a variety of levels but I always still fumble over pricing. I can easily spew out that my fees are $45 per hour for a web design project, but when I hear that silence on the other end of the line my heart stops for a minute. Then my heart starts racing, how long with this job really take, is it really worth $45 per hour can I, should I do it for less.
I’m my worst enemy. It could be because my natural instinct is to try do something myself before paying for the services of others. I taught myself everything I know about web design and development mostly because I didn’t want to pay someone else to do (oh and I also enjoy it). I taught myself how to take great pictures of my kids. I always find myself trying to learn a new skill rather than paying someone to handle it for me, maybe that’s why I have such a hard time determining my rates.
Tonight I found an article on U.S. News by Lindsay Olson that touches on this very topic, “7 Questions for Determining Your Hourly Freelance Rate.”
1. What were you making at your last job?
2. What kinds of expenses do you have?
3. What are other freelances charging?
4. What are you comfortable with charging?
5. What are some of your personal expenses?
What factors do you feel come into play when figure out your freelance rate?