Many professionals are adopting the freelance work
culture these days. And, they are attracted to freelancing pay rates.
The freedom to work from anywhere at your pace appeals to people who are exhaust from their 9 to 5 work routine. So, you want to begin your freelance career. But a few things are going on in your mind.
And, one of them is how much do freelancers make. The fear that one can’t earn enough money by freelancing is held by many. However, statistics prove that you can earn a lot through freelance work.
Does freelancing pay? Continue reading the post to learn more about the reality of making a living while pursuing freelance work.
Surveys and Stats
How much can you earn from freelancing? Well, it differs from one person to another. Payoneer conducted a survey way back in 2015. Its purpose was to uncover trends in work expectations and billing rates. The survey revealed interesting stats.
According to the survey, an average freelancer earned about $21 per hour by working 36 hours a week. Now, the amount is higher compared to a regular salaried employee in most countries. However, the rate was global averages.
And, the freelancing pay rates depend much on the nature of work and billing method. Another surprising revelation of the survey was that college degree freelancers earned $20 per hour.
Now, that’s a little less than $22 per hour earned by people with the high school education level. It means, companies tend to hire freelancers with experience rather than formal education.
According to the data compiled by ZipRecruiter in 2019, it showed that average freelance writers make $31 per hour. It shows how the freelance industry grew from $21 to $31 hourly rate.
Therefore, when you compare the new data with that of the 2015 Payoneer survey, you find an increase of about 49%. And, it took just four years.
Role of internet
Most people don’t have the luxury to access higher education because of certain circumstances. Internet, on the other hand, can provide you with knowledge without limitations. That’s the beauty of the internet.
All you need to do is connect, and extract knowledge. You can learn different types of skills by watching video tutorials online, following blog sites, and reading eBooks.
It doesn’t matter where you gathered your skills from as long as you can handle the task. So, when it is about making an impact on the freelancing job sites, it comes in handy. Freelancing pay rates depend on that to a great extent.
Evolving market for freelancers
With a growing economy, the market for freelancers has evolved drastically over the years. Businesses are accepting the new way of digital marketing. As a result, it opened several ways for freelancers to showcase their passion and earn a livelihood without limitations.
There are many legitimate reasons for businesses to hire freelancers and get the work done. Moreover, search engines have changed the concept of online marketing. So, if you are a freelance writer, it is wise to educate yourself on keywords, link building, or SEOs.
While it might sound unrealistic but some companies can pay you over $200 per hour for copywriting, tech writing, or legal writing. On top of that, the internet has created work opportunities for talented individuals regardless of where they are located.
Today, businesses across the globe can find a diverse pool of talent in the form of freelancers. There is no question that freelancing provides talented, smart, hardworking professionals an opportunity to earn more than usual.
If you want to earn more money as a freelancer, you have to market yourself. Create your online presence on freelancing networks and ask for feedback from your clients. Promoting your work through blogs or social media channels increases your exposure and credibility. That way, it helps your business grow.
Success stories
Achieving success through freelance works is nothing new these days. A quick search on the internet allows you to see for yourself how much freelancers earn. You can read their stories on how they have succeeded in freelancing through continued efforts.
These might include remaining disciplined and sharpening their skill sets all the time. And most importantly, providing a solution to their client’s businesses. They delivered great work one after another without stopping.
As such, they were able to build a massive portfolio over time. Keep in mind that there is no shortcut to achieving success. When you deliver great work, you develop a healthy relationship with your client.
Not only you can have constant work from them, but they will also refer their friends and relatives to you. A word of mouth is very important when you are building your online presence.
Variety of skills
While going through the success stories of many freelancers, you might have learned that earning more money depends on specific skill sets. So, how much a beginner freelancer earn? Well, it depends on a lot of factors.
Suppose, some freelance writers earn more than $10,000 per month. Whereas, some freelance programmers earn over $100,000. Landing pages, electronic design, research, eBooks, dot net, and graphic designing are some skill sets that fall in the top demanding skills.
For freelance web designers and programmers, there is no question of a secured income stream from these skill sets. Writing isn’t too bad either, because there are lots of opportunities.
Freelancing pay rates: Conclusion
Do freelancers make good money? It is true that if you are good at what you do, there is no limitation when it comes to growing your online business.
Every successful freelancer continues to provide great work and kept growing. Also, they are bold enough to promote themselves when they believed it was a necessary step. Your efforts and high-quality work will attract companies in no time.
And, they would be willing to pay much more than you have anticipated when they find that you are serious. Freelancing can open a lot of opportunities for you.
However, embracing what you love to do and applying your skills can help you achieve success in the world of freelancing.