Setting your rate as a freelancer can be challenging and different freelancers take different approaches to determine how much to charge. We asked talent across numerous social media platforms, "What criteria do you use to set rates for your projects?" Here are some of the tips they shared with us.
Digital Marketing Strategist @Jeanwandimi:
I consider many things.
• Market rate & competitor pricing
• My fixed + variable costs
• My value per hour/ per words (I write mostly)
Architect Saddam Hussain:
Being an Architect, the project price is directly proportional to the Speed, Accuracy and detailing of project. There are some more factors to discuss that reduces or increases the budget.
Writer & Translator Tamar Patarava:
To set rates I use the following criteria: work volume, difficulty, urgency.
Frontend Developer @hamxAhmd:
I think it depends on the type of project, the demand of skill, the time it takes to complete the tasks as per the client's demand, and above all, value addition. It's an iterative process to define your rate where you analyze your outcomes with the relevant experience you've. As a developer, what I did in the early few projects, I completed the projects with the fixed price and then calculated my hourly rate. That way I sorted out the outcomes.
Writer Rich Murphy:
As a writer, I have standard rates I charge for my work, depending on how many words. But some projects require me to build something and then write about it. In that case, I charge for designing and building it by the hour, plus the writing fee.
Writer and Researcher James Bernard:
Depends upon the amount of writing and research. My business writings projects start from 80$ until 500$. My research work starts from 35$ to 1000$. While my copywriting rates are between 25$ to several hundreds. For content writing, I often charge 40$-80$/1000 words depending on the kind of articles I need to write. I have 19 projects published and all of them get me good business.
I was told initially not to charge industry standard rates but that was a wrong advice. By charging lower than my competitors, I used to attract cheap and problematic clients but now as I've kind of established myself and know how things work, before accepting any offer, I let my client know that my job is writing and not results, results depend upon several factors. Yet, I get a lot of work and success.
Editor and Writer Sharee Wells
I do editing and content writing, so the first thing for me to evaluate is the current state of the project. Is it near completion or just beginning? Is it dialogue or prose? How is the author's grammar? If I look at an intro, a couple of pages in the middle, and a couple from the end, I can determine how deep any proofing and flow editing must go. I ask to review the pages before assessing the time it will take me to complete, the employer's timeline, and, if content or storyline is key, my level of expertise with the subject matter. I also have a price sheet I can give to prospective employers if needed. For example, a publisher who might need various types of proofing/editing can review my various levels of work and pricing. After several years of 5-star ratings, I set an hourly minimum, even for things like pre-hiring tests. (I learned to not give free work that can be used elsewhere, having seen some of my unpaid "test" work used on company websites.) Still, I remain flexible and -- if I am really interested in the project -- I tell potential employers that.
Writer and Editor Jessica D.
Time and length of the project, and my personal expertise in it. My skills are key to setting me apart and providing exceptional value.
I try to do a yearly raise depending on my evaluation of how the previous year went, what I worked on as far as continuing (or new) education, and what it looks like demand will be.
Graphic Designer jose.graphicdesign:
Most of the time, is the deadline, hours of work, project scale and resources (like fonts, stock images, etc)
Voice Talent Ozzie Wilson
The time it takes to complete, my expertise with the type of voice talent (genre)required, effort to complete, audio format and sound quality.
What criteria do you use to set rates for your projects? Share your process in the comments below.
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