![]() If you’ve researched or used a freelance writing pay scale before, you’ve probably heard the expression “by the word.” In fact, you may be using this structure right now. ![]() Either way, when it comes to finding enough of the right clients, having a retainer client or two in the mix is a clutch move. ![]() In a rolling structure, clients can move the extra hours they didn’t use to the next month, and in a use-it-or-lose-it structure, clients would lose each hour they didn’t use that month. You can set retainer pricing on a rolling or use-it-or-lose-it basis. For time-based retainers, for example, a client can buy a package of 50 hours at $100 per hour for a total of $5,000 each month.Īlternatively, clients can disclose the type of work they’re interested in each month and pay one fee no matter how long it takes for the freelancer to deliver. Typically, the freelancers who use retainer pricing give clients the option to select a package based on their freelance hourly rate or value. A retainer is a set, pre-billed fee for a specific period or amount of work. In the freelance world, a retainer is the closest thing to a consistent paycheck. Therefore, because you’re getting better at your craft, you end up shorting yourself financially. The thing with a freelance hourly rate, though, is that as you start to gain experience, it’s likely that you won’t need nearly as much time to complete a project as you did in the beginning. To accurately track how many hours worked, many freelancers use time tracking tools like Harvest, Toggl, or FreshBooks (arguably one of the best accounting software for freelancers). This one is pretty self-explanatory, but a freelance hourly rate is how much you charge a client per hour of work you do. There are many opinions about which model is the “best.”īut before you can figure out which freelance pricing model is right for you, let’s define them. Freelance Pricing Models: Which Is Right for Me?Ĭhances are, if you’ve Googled any variation of how much should I charge? (i.e., “freelance writing pay,” “freelance hourly rate”), you’ve seen a few different types of freelance rates pop up in articles. So, in this post, I’m breaking down the important things you need to know about establishing freelance pricing - including the things I wish I knew when I was starting. Not quite wave-a-magic-wand-and-charge-whatever-you-want simple, but not rocket science. I’m here to tell you that it’s not as complicated as you may think. ![]() I figured it out eventually but made plenty of mistakes along the way, I can assure you. That’s right - I was one of those “take the jump and figure it out” Unemployable types and hadn’t even thought through how much I should (and could) charge clients. Mind you, I had just quit my 9–5 agency job and had quite literally no idea what my freelance pricing should be. I had been going back and forth with a potential client for a few days before I was finally asked, “So, what do you charge?” Cue the disc-scratch sound effect. ( Home office tip: Where you eat your meals is not your workspace. I remember it so clearly: I was sitting at my tiny kitchen table, staring blankly at my computer screen, wondering what the my freelance rates were. ![]()
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