Calculating Your Hourly Rate As A Freelancer
With well over 53 million freelancers in the US alone, more and more creative professionals are opting to leave the daily grind and work for themselves.
A large subset of those ditching their day jobs and launching their own self-employed careers are writers, designers, marketers, and developers – many of whom use WordPress to power their websites, attract new customers, or help others to do so. Of the top 10 million websites in the world, over 23 percent are powered by WordPress. The sheer number of WordPress-based careers is staggering, and continues to grow each day.
Whether you’re seeking to launch a new freelance career, or you’re taking a closer look at your business and how to get more out of it, setting your hourly rate is a huge undertaking. You want to stay competitive, but you can’t make it in the long run by being the cheapest in the industry, and you can’t be the most expensive without have the experience and the portfolio to justify the premium price. You should focus on providing more value to your clients and making your high hourly rate worthwhile for each job that you land. Regardless, you need to start somewhere.
To help you do exactly that, our friends at CreativeLive have created this handy infographic to help you figure out exactly how to calculate your ideal freelance hourly rate.