I’m focused on helping other freelancers be successful, so in this post I share what I know about freelance pricing and how to ensure that you get paid every single time.
Your situation is unique
First it’s important for you to understand that every freelancer’s situation is unique. You might be a student fresh out of school or a parent with two kids. There’s a lot that goes into how you run your freelance business and how much you should charge.
With that said, take what you’re about to read into consideration based around your unique situation: living arrangement, responsibilities, current bills, work experience, education level, the types of clients you’ll work with, etc.
How to calculate your freelance hourly rate
Figuring out your hourly rate is fundamental to your freelance career. Like I mentioned before, there are many factors to consider when determining what to charge, and a large part of the process will be trial and error.
Not every freelancer charges by the hour, but having a rate in mind serves as a good fallback and will help you make accurate project estimates.
If you’re just starting out, you may not be able to charge your ideal hourly rate, so, once you’ve calculated it, adjust depending on your skill level, experience, and the market’s demand for your services. This may fluctuate your hourly rate by ± $10–30, but expect to raise your rate eventually once business starts to pick up.
When I first started freelancing I was charging $35 an hour. I just graduated high school at the time, so I didn’t have too much experience with dealing with clients, but I had the skills in design. It just comes down to what your goals are, and what you feel comfortable being paid. Obviously if you think you’re going to charge $100+ right out the gate, then you can expect not to work with any clients. Be realistic and go with your gut feeling.