Many freelance employment workers are asking themselfs, the question "How a freelance hourly rate might compare to a full time salary rate?".Here , in this article i will give you an advice how to calculate your hourly rate as freelance worker. The most important thing is the area of your freelance employment. It depends on that , are you a programmer, designer, writer, journalist, e-marketer, seo expert....
A formula some freelance workers have used to figure out their hourly rate is: Figure out what you'd like to make per year. Divide that by 50 weeks in the year (the other two weeks are vacations, sick time, downtime, etc.). Then take that number and divide by 40 hours per week. Very important in freelance employment is to keep in mind that as a freelancer all overhead comes out of YOUR pocket, not your employer's pocket. Insurance, electricity, housing, equipment...it's all you. So plan accordingly for that when you figure your rates. I would say that a freelance rate of pay would be 20% to 50% higher (or more) than what a salary individual makes. This does not mean higher profits, but it takes into account the higher overhead costs of a freelance worker.
If it were a question of a potential client rate difference, I do not think there should be one. While the overhead costs of freelance need to be covered by that individual, the bidding amounts need to be similar in order to be competitive. The
only chance that a freelance rate could be lower, would be if the company bidding was for a team of people, in comparison to one individual freelance bid. However, in that situation, the client should be made aware that the volume, and scope of a
project, would differ coming from an individual, in comparison to work done by a team, or firm.
Considering this on the basis of employment, in the end one could easily have a similar profit. While some freelancers do quite well, or better than salary workers at a firm, I doubt this is the normal situation. Some members of this group are
quite happy with their freelance incomes, or at least willing to live with it, since they are avoiding a controlling employment situation.
There are benefits to freelance, and there are bad aspects as well. Deciding which direction to go for employment should not be based strictly on income potential. Clients should not be leery of using freelance creatives, since they can bring in
interesting ideas at competitive rates.
Best freelance job resources. Most popular freelance job sites. Freelance job reviews. Definition of freelance job and freelancer.
The perfect freelance worker
As we had been buyers on some of the freelance sites, we know and had some basic expectations of how a freelance developer will get evaluated.
-The Profile in the Freelance programming Sites should be very clear and good. The skill sets should be included only if one is really good at. Writing all the technologies in the world never means that we can win projects.
-There should be a niche area for the provider. Both in technology and domain wise. Quoting good examples of the previous work in the Freelance programming areas or some others will convince the buyer easily.
-The bids should never be very very cheap. It has to be a reasonable amount, worth paying for the work. Of course it can be adjusted in reference with market rates. It should also be at a very high levels as the buyer will never care to look at the bid, if it is high.
-Asking for any clarifications will prove the depth of understanding of the provider. But too many questions may scare away the buyer. Buyer will be happy to answer informed questions which are directed to him after the provider understands the requirements properly.
-It is better to be prompt with the replies. Making the buyer wait for longer times will have a possibility of losing the bid.
-Being honest is one of the most important things. The buyer or seller do not see each other. This sometimes is an advantages but at times may prove to be a big problem with communications. So being honest and prompt communication is very important.
-Every time during the discussion Provider should follow the basic etiquettes of email exchanges. Avoiding spelling and grammatical mistakes increases the confidence on the Provider.
-If the provider has a good past rating, showing it as a reference to the buyer will be a great plus.
-The Profile in the Freelance programming Sites should be very clear and good. The skill sets should be included only if one is really good at. Writing all the technologies in the world never means that we can win projects.
-There should be a niche area for the provider. Both in technology and domain wise. Quoting good examples of the previous work in the Freelance programming areas or some others will convince the buyer easily.
-The bids should never be very very cheap. It has to be a reasonable amount, worth paying for the work. Of course it can be adjusted in reference with market rates. It should also be at a very high levels as the buyer will never care to look at the bid, if it is high.
-Asking for any clarifications will prove the depth of understanding of the provider. But too many questions may scare away the buyer. Buyer will be happy to answer informed questions which are directed to him after the provider understands the requirements properly.
-It is better to be prompt with the replies. Making the buyer wait for longer times will have a possibility of losing the bid.
-Being honest is one of the most important things. The buyer or seller do not see each other. This sometimes is an advantages but at times may prove to be a big problem with communications. So being honest and prompt communication is very important.
-Every time during the discussion Provider should follow the basic etiquettes of email exchanges. Avoiding spelling and grammatical mistakes increases the confidence on the Provider.
-If the provider has a good past rating, showing it as a reference to the buyer will be a great plus.
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