If You Are A Professional Freelancer, 5 Tips On How You Must Determine Your Hourly Rate
Professional freelancing is an emerging career field now. With a host of websites seeking services of professional writers, it is high time that you are in a position to determine your hourly rate.
Below we list the points which will help you determine your hourly rate as a freelancer.
5. Book, article or web content
You should consider if you are writing a book, article or some web content. The more research you do for your content, the higher price you can quote for the same. Academic writers for instance are paid much higher in comparison to normal web content. Consider negotiating with the client based on the efforts you are putting in for writing the content.
4. Do not look at other writers
Ever writer is unique in his or her field. While determining your hourly rate, consider your personal preferences and time management rather than looking at other freelance writers. They would have charged according to their preferences and timings.
3. Knowledge of the topic
Always keep in mind the knowledge you have on the topic while determining your hourly rate with the client. You can always have different set of hourly rates for different category of topics depending upon the knowledge you have on a particular topic.
2. Your budgetary considerations
If you are a full time freelancer, it is imperative that you have a family to look after. Therefore plan your working hours in such a manner so that you can devote time for your family too. In such a scenario, you need to set your budget according to your monetary requirements. Plan the number of clients you need to work for and set up an hourly budget in a way so that you can earn a handsome monthly income.
1. Paying capacity of the client
This is one point which is of paramount relevance when it comes to setting up your hourly rate. Research a lot before you offer your hourly rate to the client. At times it also depends on the need of the client and the urgency at which the content needs to be delivered.
Your rates must be in sync with the prevailing hourly rates in the market. It is important to establish your hold in the market before you seek some kind of hike in your hourly budget. If you are able to perform consistently better and come up to the expectation of the client, it is but natural that your hourly rate as a freelancer will receive a boost.