A Guide to Setting Your Rate as a Remote Freelancer

More and more people are making the leap from the world of traditional employment to the life of a freelancer. It’s a fast-growing space, with 56.7 million Americans now doing some form of freelance work. However, working as a freelancer comes with a unique set of challenges.

One particular challenge for freelancers is charging the right amount. A survey by Payoneer found that 8% of freelancers were ‘very dissatisfied’ with their income, compared to just 5% who were ‘very satisfied’.

To put yourself in the best possible position when entering the world of freelance work, it’s crucial to have a solid understanding of what you want to earn and how you’d like to get paid. This guide to setting your rate as a remote freelancer will show you how to do just that. We’ll cover how to work out your ideal income, how to decide on a charging structure, and how to state your rates to new clients, among other things.

Let’s get started.

How Much Do You Need to Charge?

One of the most common mistakes for beginner freelancers is undercharging. It’s easy to forget that, in the absence of employer benefits like health insurance and paid time off, you have a bunch of extra expenses to consider on top of your usual outgoings.