The World’s Simplest Freelance Rate Formula
April 7, 2008 by J.C. Hewitt
There are so many ways to determine freelance rates. Most of them are better than this one. This, however, is the simplest way:
Step 1: Start at $20 an hour or $.20 a word. This is a fairly low level. Feel free to start higher.
Step 2: Increase your fee by 5 ($25 an hour $.25 a word) with each successful gig.
Step 3: When your prospects start telling you that you charge too much, don’t raise your rates for six months.
Step 4: Try raising it again.
Congratulations! Whatever number you end up with is your rate.
[...] John Hewitt has the answer I wish I had when I started freelancing as a writer. It works for every freelancing career. Well, except the per word part. Just remove that or substitute with “per page,” “per design,” etc. [...]
Simple, effective, and constantly increasing – I like it!
I’m sure a little tongue-in-cheek, but good honest advice on rates at last!
I did more or less what you are suggesting (before I read this) and it has worked for me. Its a sensible way to go when you are not a known quantity.
Now that is a challenge! I will try this out and let everyone know the outcome