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New Weekly Retainer Payment Option

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Community Manager
Lena E Community Manager Member Since: Apr 7, 2015
11 of 52

Hi Nick, 

 

Yes, Weekly Retainer is different from Weekly Payment. We are demoing a new payment type, Weekly Retainer which I just posted an announcement about here: https://community.upwork.com/t5/Announcements/New-Weekly-Retainer-Payment-Option/m-p/787198#M47653. I will merge this thread with the announcement to reduce confusion. 

 

To clarify, Weekly Payments have been around for a while, as Petra noted, and are essentially an hourly contract with an additional fixed amount that is paid weekly. Weekly Retainers are not tied to an hourly contract, it's just a fixed weekly amount. 

 

Let us know if you have any additional questions. 

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Active Member
Nick Q Member Since: Feb 25, 2020
12 of 52

Hi Lena

I understand that Weekly "Retainers" concept and that it ha been on uwpork since years. 

 

(A) See the attached screenshot where filtering jobs on upwork states it is new concept. This has been visible while searching for jobs since only a month or less.

Was it available to premium clients only since years?

 

(B) If I wish to bid on a project with a weekly payment (fixed weekly) and an hourly rate (upwork tracker) too, how do I bid? Bidding for such projects asks for my weekly rate only and not hourly.

 

(C) Your announcement on weekly retainers was never emailed to the users; I have personally checked with some of the active upworkers in my city.

 

thanks

Nick

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Moderator
Vladimir G Moderator Member Since: Oct 31, 2014
13 of 52

Hi Nick, thanks for your questions.

 

1. When clients set up a weekly payment, which has been an option for years for all clients, they do so as part of an hourly contract. This means that in addition to the set, weekly payment, a freelancer can also log and bill additional hours via the Work Diary. A Weekly Retainer is not tied to an hourly contract, and a freelancer will not have access to a Work Diary to log additional hours (and request additional payment). Note: We are currently testing this option out with select clients. We’ll let you know if it becomes available to all.

 

2. When you view a job post you will see whether a job is listed as hourly, fixed-price, or one with a weekly retainer.

 

3. This is a test and that's why we haven't sent email notifications regarding the weekly retainer option. 

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Active Member
Nick Q Member Since: Feb 25, 2020
14 of 52

Here is what I understoof Valdmir (in my own words):

 

-- Weekly payment is equivalent to a weekly salary fixed with no variable part. Say my profile hourly rate is $100, I can ask for $4000 weekly (assuming 40 hours a week). Incase I work more than 40 hours, I can log into an hourly tracker at a standard rate (say $100). 

 

-- Hourly option on weekly retainer is after I have exhausted my weekly limit.

 

Query: Why are people statting it has been public for 6 years while you mention it is in testing phase (not live to all users)?

 

Query: How do I decide my hourly rate above and beyond my weekly limit in a weekly retainer contract?

 

PS: Too many moderators answering are already confusing me. My original question (first message) still isnt clear.

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Moderator
Vladimir G Moderator Member Since: Oct 31, 2014
15 of 52

Hi Nick,

 

To clear any confusion:

 

- Weekly payment and weekly retainer are two different options.

- Weekly payment has been around for years, you can find more information in this Help article).
- The weekly retainer option is a new contract option we are testing out.

- As mentioned in my previous response, a weekly retainer is not tied to an hourly contract, and a freelancer will not have access to a Work Diary to log additional hours (and request additional payment). No Work Diary is used with a weekly retainer.

Let us know if you have any further questions and we'll gladly follow up and provide more information.

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Active Member
Nick Q Member Since: Feb 25, 2020
16 of 52

This is a better explanation and gives a great view of the things.

 

PS: Weekly payments are same as hourly contracts paid weekly, right?

Someone wrongly answered that weekly 'retainer' has been on upwork since years and can be clubbed with hourly.

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Moderator
Vladimir G Moderator Member Since: Oct 31, 2014
17 of 52

Hi Nick,

PS: Weekly payments are same as hourly contracts paid weekly, right?


Not exactly. Weekly payments are available as an additional payment option for clients to select when making an Hourly contract offer. They can specify an amount to be invoiced on a weekly basis, usually along with their freelancers' hours. I'd also like to note that Hourly Payment Protection does not cover weekly payments.

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Active Member
Nick Q Member Since: Feb 25, 2020
18 of 52

What are the other / new models other than conventional hourly tracker and fixed/milestone system?

 

Hourly vs weekly retainer vs weekly payments?

 

Can I request a detailed message or an explanation over a call?

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Moderator
Vladimir G Moderator Member Since: Oct 31, 2014
19 of 52

Hi Nick,

 

The only new option that is being introduced by this test is the weekly retainer. Clients included in the test will see three payment options instead of the previous two when posting a job, as featured in the screenshots Lena shared in the opening post on this thread:

 

1. Hourly, with an option to set regular weekly payments.

2. Fixed Price

3. Weekly Retainer - New option we're currently testing.

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Active Member
Oleksandra P Member Since: Oct 19, 2017
20 of 52

Hello Petra, is it possible to switch hourly contract to a retainer? Or we need to close old contract and start a new one from scratch? Thanks