How To Charge as a Freelancer (Because Money is Key)
There is only one thing more difficult than securing a freelance Job: how to charge as a freelancer. You do not want to ask for too much because this can lead to your employer ghosting you. Also, you do not want to charge too low because you have bills to pay. As a result of this dilemma, you find yourself asking,” How do I charge for this freelance Job? “
Most freelancers are underpaid because they do not know how to set their prices. You don’t want to be that person, right? You want to be able to go on a vacation, pay your bills, and enjoy the beautiful things of life. Well, that can only happen if you know how to charge for the services you render correctly. You don’t want to be that guy that works all the time but still asks his friends for money regularly.
So we would be looking at how to charge for your services.
Now, this is an important thing to look at when negotiating your pay as a freelancer. You should know they are mostly three types of rates when it comes to freelancing. These rates are hourly, daily, and project-based. An hourly rate means you are paid based on the number of hours you put in work. For someone who spends long hours doing something, you want every second to earn you cool money, which might be the best rate for you. The second is daily; when it comes to daily rates, the number of hours you put it doesn’t matter. What matters is that you show up every day and show out. Lastly, the project-based this rate says you would receive a fixed amount before or after the compilation of a project.
Depending on what your job description is, you should discuss which mode of payment to use for payment.
Factor in your expenses While you charge as a freelancer
There is no doubt that you are an expert in your field, but you do not work alone. You work with various equipment, apps, software, and your body too. Because of the need to perform optimally, these things need maintenance, renewals, and upgrades. Don’t be selfish; think about these things also, and include them when stating your price. Especially if you like to snack while you work, you might want to have a cost for that. By doing so, you are ensuring you do not spend the money meant for your pocket on other things.
Here is a list of things you can charge for:
- App subscription ( Adobe, Figma, etc.)
- Equipment maintenance.
- Data subscription
- Fuel (For us in Nigeria with no steady power supply)
Have you ever felt like you are giving too much of yourself with little or no recognition? It can feel that way with work. Most of the time, you get to do what you didn’t bargain for from the get-go. As a result, you get frustrated because your employer is overworking you and underpaying you. To avoid things escalating to this point where you feel like yelling at your boss, you have to do this. Firstly, draft out what you will be doing for the organization during the negotiation period and how much each would cost.
You can have something like this
1 Landing Page = ₦15,000
4 Weekly Blog Posts = ₦10,000 per post @ 700 words
1 Weekly Newsletter = ₦5000 per post @ 300 words
Total = ₦180,000/ Monthly.
By doing this, your employer knows your roles are cemented, and anything extra would cost him extra.
Importance of Rate Cards on How to Charge as a Freelancer
If you want to kick off negotiations with an advantage, get yourself a rate card. It should contain your services, your prices, contact details, and people you’ve worked for in the past. Let your rate card speak for you.
Things to include in your rate card:
- Contact details
- Past work
- Link to portfolio
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