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Re: How to you determine your hourly rate ? What is reasonable rate.

Ace Contributor
Faisal A Member Since: Apr 12, 2017
11 of 17

What does it mean when a completed project says:

 

Project completed in 3 hours, between Oct 2017 -  Feb 2018, 75$/h, earned $225, "

 

If its three hours project, then why four months ?

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Community Guru
Petra R Member Since: Aug 3, 2011
12 of 17

@Faisal A wrote:

What does it mean when a completed project says:

 

Project completed in 3 hours, between Oct 2017 -  Feb 2018, 75$/h, earned $225, "

 

If its three hours project, then why four months ?


 Maybe the client left the contract open because they thought there might be more work coming, which then never materialised, or simply forgot to close the contract.

 

Ace Contributor
Lucio Ricardo M Member Since: May 16, 2018
13 of 17

Fixed price projects get the same earning although the project extends more and more, although, in the other hand, hourly projects may lead to client disatisfaction if you put so many hours without solving his needs. I think that the best deals are hourly projects, and at least for non US living persons lead to a decent income, whereas sometimes working at fixed price projects does not give you enough for the rent and the bank payments (with the cards at full). Although fixed price projects leaves you with less stress, feeling you more free to take your time to get the results (with a limit). But about money, unless you give the procedure to turn sand into gold in one day, at least by my experience, are not kind of a deal, moreover if you are very optimistic on the timings, or if your client believes you can tur water into gold for 75 USD. 

Community Guru
Charles K Member Since: Mar 6, 2017
14 of 17

It's almost impossible to answer this question because it depends on many criteria, some of which only you know about yourself.

 

It also depends on your approach. As you've seen, some people charge the same hourly rate and that's it. Others, like me, change the rate they charge on a job. I use a complicated and somewhat subjective system to decide what to charge for a job, which sometimes takes into account literally dozens of different factors.

 

The best thing to do is to look for people in your area of expertise (sorry, I can't access your profile) and then experiment to see what works.

Community Guru
Petra R Member Since: Aug 3, 2011
15 of 17

Charles K wrote: Others, like me, change the rate they charge on a job. I use a complicated and somewhat subjective system to decide what to charge for a job, which sometimes takes into account literally dozens of different factors.

 I just use 2 factors.

  1. How overworked am I already? The more I have on, the higher I quote (on fixed price) in almost a hope the client will balk at it. IF they still want it, at least it is worth my while to not sleep.
  2. How much do I WANT to do it. Sometimes, just sometimes, something comes along that is just too great to not do. That is the only time I compromise on price.

 

Community Leader
Bettye U Member Since: Mar 6, 2016
16 of 17

Petra, you and I think alike. I usually skip jobs that say, "I need a book edited," and give no details, like fiction/nonfiction, genre/subject matter, length, etc. Other jobs with more detail, I tell them I need to see at least part of the manuscript to determine my bid because it's unwise to agree to do a job sight unseen (unfortunately, I learned that one the hard way), and if I'm busy, as I am now, I will throw out a higher rate just to see if the client bites, knowing that it's no big deal if they don't or that I won't get a lot of sleep if they do but will be happy when the pay comes in... 

Active Member
Samanta C Member Since: Sep 30, 2017
17 of 17

My start was rocky compared to other freelancers, I started in the English-Spanish translation group and rates aren't exactly high. The initial rate I had posted was considered too high, so I did my research on other freelancers in the sector and how much they were charging per hour and moved on from there, assessing what I needed to get by each month.

 

Nowadays, my rate changes according to the project and the service asked from me. It can go higher or lower depending on that, and if the prospective client doesn't provide a good description through the chat, the job just isn't for me.

 

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