How does one set a realistic fee for freelance work?
If you have read my article, Rate Setting, you have followed the calculations that show a freelancer’s $77/hr fee equates to $45,000/year for an employee. In an ideal world, all firms would be paying a living wage and would take into account a freelancer’s overhead when shown the $77/hr or higher rate. But how many of us actually charge that hourly rate? Not most of us, sad to say!, Freelancers, especially those just starting out, do not have clients that will pay these reasonable rates. After all, prospective clients can easily find others who do an acceptable job for a lower rate. That is why the Rate Setting Guideline is just that – a guideline. All too often, folks starting out as freelancers haven’t a clue as to how to determine fee ranges. A fee of $15/hr or even $35/hr might sound really good until they look at this hourly fee from an overall perspective. As an employee you know that taxes are deducted from your paycheck, that you may make 401K deductions, and that you get a cer
