Rates

Freelance rates
2022

As many people have said here already, there is no ‘correct’ rate for a given piece of work. I’ve often been amazed by how much freelance rates vary. I’ve literally been paid a difference of 300% for the same kind of work, by clients that were of a similar size and had their offices less than 500m from each other.

While in the long run you can essentially charge whatever you want, this is very difficult when you’re first starting out – and you ask about how to calculate your rate when you’ve never started freelancing before.

What has worked really well for me is to calculate the lowest possible rate you need to earn to still put food on the table.

Take your monthly expenses (just check your bank statement)
Add 25% for tax
Divide by 112 (4 days per week * 7 hours per day * 4 weeks per month)

This gives you your minimum rate.

Then go out and find clients. If they pay you more than the minimum, you’re winning. You will make mistakes and you will undercharge, however that can be adjusted upwards as you go. It’s more important that you learn the business of freelancing than make a killing right from the outset.