Set Your Freelance Rate to Double the Employee’s Hourly Rate
When you first start working for yourself, it is difficult to determine how much to charge. This usually includes math and knowledge of your industry and market . Seth Godin offers a simple proposition: charge at least double the hourly rate that you would be happy with as a full-time employee.
This is his advice for successful freelancers, and he says that in many areas, you might have to charge even four or five times the hourly rate. The reason is pretty simple: when you’re a freelancer, clients come and go, and you need enough to support you through tough times. (Plus, taxes are ridiculous.)
Your experience may vary, but one surefire way to become an unhappy freelancer is to charge enough and hope that the low cost will keep you busy all the time.
Godin also recommends spending at least half of your time perfecting your craft.
While not all of us have the reputation or experience to charge high rates right away, this is something to strive for if you want to be a happy freelancer.
Double and Half (Freelance Math) | Seth Godin