How to charge as a beginner freelancer is a popular topic because the charges you will ask for freelance work in 80 cases out the 100 will define whether you gonna be hired or not. That’s why every new freelancer wants to know how to charge for freelance work to be hired most of the time.
Honestly, there is no formula to charge for freelancing projects but strategy and steps are the paths to follow to understand how to charge as a freelancer. Therefore this article is going to be very interesting and beneficial for beginner freelancers. It will help you to know the strategy, tricks, and things to avoid while charging for freelancing jobs.
To charge for freelance jobs there are two terms that can be used first is an hourly rate and another one is a fixed price. Let’s explore both terms in detail.
The hourly rate is the rate that freelancers can set for an hour to charge. The hourly rate is various in the freelancing market place and mostly it is between 2$ to 300$.
Now the question is what is the best hourly rate for freelancers. Who charge 300$ for an hour. How to set hourly rate.
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How to set an hourly rate for freelance work?
Hourly price relies on a few factors such as skills level, experience, the place freelancers lived in, and the money you want to make in a year.
If your living place is in the western area so you can set your hourly rate from $10 even at the beginning of your freelancing career. It’s very shocking but actually, it is and sometimes I feel it is not fair because I’m not from the western area and this factor is not the same for the north freelancers. They have to start it from 3$ to 5$ which is half than Western freelancers hourly rate. But as your portfolio starts to build, or you do some interesting projects ( 8 to 12 projects) you can increase your hourly rate up to $20.
The other necessary factors that should also be considered before choosing the rate are. Which service are you providing and how much it will take time. What is the hourly rate of other beginner freelancers? What is the market value of your service?
What is the best hourly rate for beginner freelancer?
For beginners, the best hourly rate is the minimum hourly rate whereas experienced and professional freelancers can set $20 to $50 rates for an hour.
The minimum hourly rate for freelancers is best because this time is the beginning of a freelancing career and we know that there is a lot of competition in freelancing at each step. Thus if you want to make your identity in the field of freelancing so at the start you have to set your hourly rate minimum but it is not mean that if your hourly rate is minimum you can compromise on the work quality.
No, the minimum hourly rate is set for attracting the clients category that have not much budget but want excellent services. By providing both qualities you can win clients and can build your freelancing carrier. I know some of the time you will feel you are giving more value than the money you are getting. It is ok, all freelancers did it too but when they reach a particular stage they started to charge for the experience they have got from their past.
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Hourly rate for freelancer is good
Hourly rate terms are not good for all types of services. If you are providing the service of removing errors. Then I will not recommend you to work on an hourly rate basis because sometimes errors can be solved in a couple of minutes and sometimes it will take many days to understand the error. So if you charge more then the client will not be satisfied and if we charge less then you will be not satisfied. In this type of circumstances, you can take a startup directly from the fixed price.
Who freelancer can charge 300$ for an hour?
The freelancers who have done incredible inventions and have completed hundreds of successful projects mostly have a $300 hourly rate. The brands and companies that have good budgets always prefer to hire that kind of freelancer to attain the best result.
Fixed-price for freelance job
Fix price is a term in freelancing in which a freelancer charge and gives a quotation to a client for a particular project. Experienced freelancers mostly use fixed prices to charge for online freelance jobs. It doesn’t matter if the project will complete in a couple of hours or in a couple of days but they will charge a fixed price. It is a very favorite term to charge for freelance work because this term is truly fruit-giving.
Clients are also like to pay fixed prices rather than paying hourly rates because they don’t know how much a specific work can take time. Many spammy freelancers are available in the market to get benefits from non-technical clients. For instance, work can complete in an hour but delayed for a number of hours to get more money.
How to set price for freelance work
A freelancer must know how to create an accurate fixed price but not every freelancer can create a perfect price. If you want to make an appropriate fixed price then I want to share my oven experience and tricks. Firstly try to know the what is the actual requirements of the client. The more greatly you understand the client’s requirements you will be able to give the best quote.
It will also save you from the multiple revisions problem. It will make your freelancing profile positive and highly liked. This effort will increase your number of clients repetition. Before giving the quote always check what is the worth of the project and how much other same category freelancers charge. Try to make the price a little bit negotiable if you found you can do it for particular projects.
Many freelancers apply and ask for a price that is not under the budget of the client by doing that they just waste their time. So try to avoid doing this thing.