We wanted to get to know Jake Poinier (NAIWE’s Freelance Expert) better, so last month we sat down with him. Here is what he shared with us.
Are there standards to setting the fee structure?
Setting a freelance fee structure is a taste of the Wild West. The simplest calculation is to know your hourly rate and accurately assess how long the tasks will take, but there are countless factors that can influence what you charge. It’s also important to consider fee structure from the client’s perspective; what makes sense for one might not appeal to another. If a client wants a firm project estimate, you shouldn’t suggest an hourly rate or per-word rate, and vice versa.
What information on an industry rate sheet is helpful?
Industry rate sheets give basic, broad guidance on what others are charging, so they’re arguably most helpful for freelancers who are new and have absolutely no idea where to start. The challenge is that you don’t know what the inputs were: What types of industries, projects, and clients? What part of the country? How many years has someone been freelancing, and how skilled are they? A successful, experienced freelancer will often have rates above the upper range shown in industry charts.
What are some tips for how to properly use an association survey?
An association survey can be one of the components to create your rates, but should not be the only one. Do the math on what you would like to earn annually, and break it down to an hourly rate or range. Networking with other freelancers is an easy way to check your math.
As a freelancer, pricing and estimating your services properly is the foundation of your long-term financial prosperity and day-to-day psychological well-being. In this webinar, Jake “Dr. Freelance” Poinier offers a strategic, value-focused approach to setting your fee structure, taking into account the numerous factors that can’t be found on an industry rate sheet or association survey. Topics include formulating your basic pricing, creating persuasive estimates, dealing with challenging negotiations, raising your prices, and much more.
You can join in this conversation on March 30, at 3 pm eastern, when NAIWE will host a discussion on figurative language. The cost for NAIWE members is only $10! Non-members can join for $30. Register today!