Article submitted by www.Allfreelancework.com - 1000s of freelance jobsThis is the second article that I am writing about setting freelance rates. The reason I am writing another article is because of numerous questions that weren’t answered in the previous article. I will first summarize what the last article was about and then I will go on to new details. Determining how much to charge for your services is often one of the biggest challenges for a new freelancer. If you charge too much you won’t get hired and if you charge too little you’ll starve.
If you are a new freelancer, you have probably searched the Internet trying to look for average rates of professionals in your field. Don’t even bother. I will let you in on a secret . now that the Internet is here, there aren’t any “average” rates because demographics are too widespread. The United States has banned competitors from discussing rates amongst each other based on Antitrust laws. This is why you are having such a hard time finding rate surveys, there aren’t any. Instead I will show you how to figure out what your rates should be by using a formula.
To determine your salary, you might want to pay yourself what you earned as an employee or take a look at salary.com to find out what an average salary for your profession is. For this formula, you will need to figure out what your overhead is. Overhead is an expense that cannot be found billable to a client, it is just a cost incurred by running your business. Please fill out the following form. If you aren’t sure what your overhead is, then look back on last year’s credit card bills and checking account statements.
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