If you've never worked freelance before, don't leave your freelance rates to good will because you're more likely to get underpaid for your skills. Here's how you can set up your freelance rates without over-charging or under-estimating yourself:
Consider your expertise level and work quality.
If you're a beginner, it's just natural that you don't charge like the pros. Take note of the level of expertise you have and the quality of work you can produce. High expertise levels can get away with higher freelance rates.
As a beginner, though, consider setting a fair rate for yourself – low enough to introduce you to the industry and sufficient enough to cover for your expenses and effort.
Do the math.
Let's say you have never, ever charged for freelance work before and have no idea how much to bill. There are two ways you can come up with a fair freelance rate. One is to use other freelancers' rate as a basis and another is to compute based on your abilities.
So how much do other freelancers charge? Go to other freelancers' websites or take a look at sites that advertise freelance services. Freelancers who put ads here often post their rates.
Find one that offers similar services to yours or is at least in the same industry. How much he or she charges is a pretty good benchmark for the type of rate you can charge.
Take a look at the rates charged by three or four other freelancers for a fairer comparison. If these freelancers charge from $30 to $45 per hour, for example, consider charging the lower end rate if you're a beginner or go for the median or higher-end rate if you have the skills.
Computing per project
Some freelance work at home jobs are on a project-to-project basis. Consider the number of hours you will reasonably spend on it plus the resources you will have to use. You might also add extra for special jobs or those requiring special skills.
Compute for the total and then add the mark-up. This will serve as your profit, usually a percentage of the total cost. About 15% to 30% on top is acceptable as a freelance rate.
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