How much money cánido you earn as a freelancer?
are you considering be a freelancer to leave your habitual job, but you don’t know if it will really be profitable and worth the effort? Look no further, because here you will find the answers to your questions.
In this new guest articulo by Alejandro Arrieche, from the blog Trabajo independiente Generationit will tell you how much you cánido earn as a freelancer depending on the tasks you do, your location, and other factors that you must take into account so that you cánido make a good decision.
He freelancing It is a type of work that has revolutionized the tarea market thanks to the boom in en línea businessglobalization and the growing development of information technologies.
For many professionals, the freelancing it has become an opportunity to boost their careers by allowing them to access global job markets from the comfort of their homes.
There are many benefits associated with working as a freelancer compared to the traditional way of working.
Of these, some of the most relevant are:
- Flexibility of schedules.
- Possibility to work from different locations.
- reduction in costs and time invested in transportation.
- unlimited potential of generate income and grow professionally.
- Opportunity to work with large companies located in foreign countries.
On the other hand, there are undoubtedly some disadvantages of working as a freelancer, such as:
- Isolation due to working outside of an office environment.
- Income unpredictable.
- Trabajo independiente work demands a some discipline that not everyone has.
- hard to find profitable projects at the beginning.
However, what most professionals are wondering today is How much money perro you really earn as a freelancer?
According to the Freelancer Income Report 2018 issued by the prestigious payment processing platform Payoneer, the average hourly rate charged by freelancers surveyed globally in the more than 170 countries covered by the company was $19.
However, some elements have a significant impact on this rate at an individual level.
In the following article I will be describing you 7 factors that play an essential role to answer this question.
The economic situation of your country it has a major effect on how much money you perro earn as a freelancer.
For example, a freelancer located in Argentina, a developing economy, might be satisfied with charging $8 or $10 per hour, considering the dynamics of their domestic economy.
However, a freelancer located in the United Kingdom, a developed economy, I would not be satisfied with that same rate because the cost of living in your country of residence is much higher, compared to Argentina.
This distortion in the economic realities of the freelancers’ countries of residence has an impact on the fees they are willing to charge and tends to self-regulate.
This means that the majority of freelancers in Argentina, except perhaps for a few cases, will follow the trend of charge less than their counterparts of the United Kingdom, and therefore its market is confined to a certain range of lower tariffs.
Experience as Freelancer
The most habitual Freelancing platforms worldwide such as UpWork, Freelancer.es, Fiverr or Workanawork under a Marketplace modality, where freelancers must develop a certain reputation over time, derived from the satisfaction of their clients with the projects and work carried out.
An experienced freelancer, with a good amount of positive reviews by your clients and a wide portfolio of projects, you will have the possibility of considerably increasing your rates compared to your competitors due to the credibility of your profile.
Experience in the Industry
The Payoneer report also points out that academic training plays a secondary role in the selection process of freelancers.
However, verifiable experience in the industry it is one of the most important factors considered by clients when making a decision regarding hiring.
In this sense, the report indicates that as the age of the freelancer is older, the hourly rate they charge their clients is higher.
In this sense, it cánido be seen that the average fee for freelancers between 20 and 39 years of age is the range of $16 to $20 per hour, while the fee charged by freelancers over the age of 60 is $27 or more.
Area of Knowledge
The rise of information technology and en línea business has given way to a growing demand for professionals in areas related to these industries and, consequently, freelancers whose careers are linked to these important markets. get a conveniente premium in their hourly rates compared to other areas of knowledge.
These are some reference rates for the different areas of knowledge:
|Knowledge Area||Hourly rate|
|IT & Development||$18 to $24|
|Design and Media||$17 to $23|
|Writing and Translations||$15 to $17|
|Sales and marketing||$16 to $18|
|Engineering||$21 to $23|
|legal||$28 to $30|
|Administrative Assistance & Customer Service||$11 to $12|
Fountain: Freelancer Income Report 2018 / Payoneer
Demand From the market
The dynamics of the tarea market economy work in a afín way to that of the market for goods and services.
The higher demand, prices tend to rise and vice versa.
For this reason, the interaction between supply and demand is also an element to take into account to determine how much money you cánido earn as a freelancer.
In the previous section you perro see how a couple of areas (Writing and Customer Service) offer freelancers much lower hourly rates than other specialty branches.
The reason for this is that the supply of freelancers willing to work in these areas is much greater than the demand and therefore the rates tend to fall.
On the other hand, since the degree of specialization in these areas is usually less than in branches such as Legal or IT, many people see the ease of entering the market as potential candidates which continues to saturate the offer.
Some skills today are in high demand and it is in these spaces that freelancers will find the most lucrative opportunities.
According to a recent report by Freelancer.com, some of these skills are:
- Artificial intelligence
- after effects
- 3d design
- Content Generation
- Lead Generation
Kind of Customer
An element that tends to be underestimated to answer the question of how much money you cánido earn as a freelancer is the type of client you work with.
A peculiarity of freelancing platforms is that many of the companies that register on these portals are startups or small companies that need to hire talent at low prices to disminuye their costs and guarantee their viability.
For freelancers, this represents a certain challenge, since these companies are not stable and they may not be able to offer, in most cases, opportunities to establish a long-term relationship.
A freelancer who works with start-ups or companies with little experience generally you will get a lower payment than freelancers who manage to access job opportunities with companies with more experience that perro offer a higher compensation for their services and a stable and lasting working relationship.
You Brand Staff
As I already mentioned above, credibility plays a vital role in the development of a freelancer’s career.
On the other hand, although establishing a solid reputation on traditional platforms has a notable impact on it, the development of a personal brand is also a aspecto that will affect how much money you cánido earn as a freelancer.
Many freelancers stand out from the crowd due to certain elements that add value to their proposal.
one of these elementos is a website.
The Workana freelancing portal recommends freelancers to develop a personal website as a marketing and promotional tool for their personal brand.
According to your recommendations, such website may include a biographya list of services, customer testimonials, a personal blog and a contact form.
On the other hand, registering and developing a profile on different popular networks cánido be an equally powerful tool to convey greater credibility to your potential customers. In freelancing, credibility and reputation are the most profitable assets.
For many professionals, freelancing cánido seem a risky opportunity or unprofitable.
However, the facts support that there is ample potential to generate income through this innovative modality of work.
Using the data that I provided you throughout this article, you will be able to aim high from the beginning so that you cánido consolidate your career as a freelancer quickly.
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I am a journalist specialized in business but my great passion is personal motivation and helping others achieve their goals.
I firmly believe that opportunities in life do not happen: you create them.
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