Freelancing seems like an attractive career, doesn’t it? There are so many opportunities on freelancing platforms. When you like a job, you apply for it. You work with the client and you follow instructions, but you do have flexibility regarding working hours. When you’re done with a particular task, you can apply for different projects or continue to work with the same client if you collaborate well.
But there’s one aspect of freelancing that’s not always clear: the money part. How much are freelancers making? Will you be earning enough to support yourself without the need to get a “real” job?
Let’s answer that question once and for all, shall we?
Should You Become a Freelancer If Money Is Your Main Motif?
So you’re in between careers or you have a job you don’t like. Freelancing seems like an attractive opportunity for a job that would help you make some money. But will it make you money?
There’s only one answer to this question: it depends.
We’ll answer with few questions:
- How skilled are you?
- What’s the demand in the freelancing niche you’re interested in?
- How much time are you willing to invest in this career?
If, for example, you’re a skilled graphic designer, you may rest assured that there are plenty of gigs to compete for. If you’re willing to invest several hours per day and you intend to turn this into an actual career, then the answer would be: yes, you’ll make enough money through freelancing.
If, however, you’re not skilled enough to complete the service you offer or you’re not willing to work hard enough, your attempts to become a successful freelancer will turn out to be disastrous.
Payoneer, a payment service aimed at freelancers on a global level, recently published the results of its 2018 Freelancer Income Survey. According to the findings, the average salary range can range from $3 to $100 per hour. The rate depends on the geographical region, education, experience, and demand for the specific skill set. It’s a very wide range, so that’s exactly why it’s difficult for us to give a straightforward answer to the money question.
You may be working seven hours per day and earn $140 daily if your hourly rate is $20. You may also have an hourly rate of $50 and earn $150 in just three hours of work. It all depends on your rate, and the realistic rate depends on the demand, your skills, and your ability to sell yourself.
Yes, you can definitely make money if you become a freelancer. But no, you won’t get it easy, and you won’t be making millions. You can get to a decent salary, but you’ll have to work for it.
Here is a more precise answer, just to give you a full impression of what you can hope for: the average hourly rate of writers and authors in the USA is $29.72, and the median pay for 2017 was $61,820. Not bad.
Tips: How to Make Money as a Freelancer
Find Out What You’re Good at And Explore the Niche
Are you good at blogging, article writing, graphic design, programming, photography, or any other niche that’s suitable for freelancing? You have to focus on your main skill and take it even further.
If, for example, you decide to become a freelance writer, you should find out what the clients from this industry want and how you can attract the best one. The Definitive Guide to Copywriting by Essays.ScholarAdvisor is a good place to start.
If you’re a graphic designer and you decided to work from home, then you should find out what clients want. You must keep working on your skills, so you’ll stay on track with the trends and you’ll keep upgrading your portfolio.
Analyze Your Competitors
What are other freelancers doing? How much do they charge? Upwork is one of the most popular freelancing platforms on the web, so you may start your search there. Go through the profiles of freelancers from your niche. Check out their profile descriptions, job history, and hourly rate. Most of them have links to their blogs or online portfolios, so you can analyze their work, too.
You won’t be doing this with the intention to imitate it. You’re just trying to get an impression of the industry standards, so you’ll know what you’re competing with. Needless to say, you’ll be doing your best to offer more value to the clients, so you must find your competitive edge.
Start Connecting With Clients
There’s something you must know about the freelancing market: it’s competitive as hell! There are bad clients that nobody wants, and there are great clients that everybody wants. When you compete for a job offered by a great client, you won’t be the only candidate taken into consideration. That’s why you must make your profile attractive, and you must write great cover letters that show why you’re perfect for that particular job.
Work on your own blog! It’s the first thing a potential client checks before interviewing you. If it’s attractive enough, you’ll get a chance.
Yes; freelancing is a flexible job. No; you won’t be making money if you don’t take it seriously. Working under a flexible schedule is not the same thing as not working at all. You won’t get a fixed salary. You’ll be getting paid for the work you do, so you better start doing more work if you want to get paid more.
Freelancing is a good career to consider when you want to explore the world or stay at home while earning money. However, it’s a competitive market. You’ll be making money only if you’re great at what you do, and you stay consistently committed to your working schedule.