How Do You Set Your Freelancing Rates?

I recently came across an interesting article on Freelance Parent at Sparkplugging. This article talked about setting freelancing rates. And I realized that this is an agonizing decision that all freelancers go through — whether you are writing, designing or consulting. You have to decide how to set your rates.

Ways to set your freelancing rates

There are a couple of ways to set your freelancing rates:

1. Per hour: You can figure out how much you are worth per hour. You can estimate how long it might take you to complete a project and go from there.
2. Per word/page: If you are a writer, you might set your rates according to word count or page count. Depending on the difficulty of the work involved, you might charge more for some types of work.
3. Per project: Some just look at the project in terms of difficulty, specifications and time it is likely to take to complete and then set their freelancing rates on this basis.

When you do set freelancing rates, though, keep in mind that not everyone will pay what you charge. I’m happily to a point where, for the most part, if someone doesn’t like my rate, they can move on. There are plenty of others that know my worth. However, I did have to start out taking lower paying jobs until I got some experience. That’s just the way it is.

Do you have a method for setting your freelancing rates?

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