5 Things Freelancers Should Think about When Setting Freelance Rates

Freelance rates are a hot topic of discussion amongst freelancers and those who hire us.

Spend some time on freelance message boards and you'll see a lot of questions around setting rates, like "what should I charge?" for a specific assignment, "how can I negotiate freelance rates?" as well as gripes about low freelance rates in certain industries.

Yes, there's even "rate shaming" as well.

This is when some freelancers gang up on other freelancers for taking on low-paying work.

There are quite a lot of small–and BIG!–factors to think about when setting freelance rates.

While many clients might have their rates set, others can be malleable.

It's often how you go about it!

When it comes to freelance rate-setting exercises, I want you to think about the "gross hourly rate" you want to earn. (And no, you don't have to tell your client this number.)

To help you make more educated client rate proposals, I’m sharing some factors to consider when setting freelance rates.

Freelance Rate Quoting Tips

Take time before sharing a freelance project quote and consider these components.

1. Experience level

Beginner freelance writers might take on lower-paying freelance assignment rates or lower freelance hourly rates to land assignments at a big company. Or, you might need to do this for experience and clips. You also might do this as you're branching out in a new niche.

That published piece should be used to help you obtain future work in other places, so you can raise your freelance rate with the next client.

My clients are paying for the 20 years I’ve been working in the media industry and the freelance skills I’ve learned during that time.

I explain it to freelance coaching clients like this: You probably pay a master-level barber or hairstylist a lot more than someone who just graduated from beauty school when a haircut or style. You're paying for the outcome you hope to get from their years of experience.

The same is true in any creative industry.

2. The value to the client

Freelancers should think about the value of the work they're doing to the client.

• Will this sales copy likely lead to hundreds of thousands of dollars worth of business for the client?
• Could that piece of SEO content show up on the first page of a search engine result in leads that drive the company's business up 30 percent?
• Did that website redesign result in thousands of sales within the first month?

These are considerations to have before sharing your freelance rate with the client.

Factor in the size of the company when quoting your freelance rate, as well as the potential return they’ll get out of their investment into you, the writer.

(BTW if you need additional help setting freelance rates, I've got something that can help...)

3. The time spent on research

If a client is asking for a 4,000-word article that requires three different interviews, reviewing scientific studies, and SEO research, you should be asking for a higher rate than turning in a much shorter article with no interviews that's relatively easy to write.

If it’s a new client, expect to spend a bit more time nailing the brand’s voice, as well as setting up all the paperwork and invoicing, all of which should factor into your freelance rate.

It'll take time to make sure you've dotted all the "i's" in terms of following their style guide, addressing personas, comparing your final piece to competitors and ensuring you've met all of their expectations.

When you keep working with the same client (an anchor client) and have a better understanding of what they want, you should get faster and this will get easier.

4. Edits from the client

Make sure your freelance rate proposal outlines the number of rounds of edits included. Two is fair for most projects.

Outline additional fees they’ll need to pay at an hourly rate if they have edits beyond that. This will help prevent freelance scope creep and the client will (usually) work harder to streamline feedback.

Remember, if you're getting paid a flat fee for a project or assignment and edits keep demanding your time, that's time and money you aren't earning for another client.

5. The turnaround time

Quick turnaround freelance assignments come with a higher freelance rate.

There’s a saying “Fast, Cheap, or Good? Pick Two.”

If I’m backed up with client work and an editor wants me to deliver an article in two weeks or less with a few interviews, I’ll let them know that I can prioritize it for the right price–or they’ll have to wait.

I might tell them my increased rates for a rush job and rates for a normal turn-around period. If they don’t need it as fast as they originally indicated, they might be willing to wait.

What are the factors I didn't address here that you think about as you're forming your freelance rates?

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Hi friend! I’m Diana.

I’m an award-nominated freelance writer, copywriter, editor, content marketing writer, SEO writer, and freelance coach.

I’m also a wife and a mom to two toddlers, a large dog, and an exercise enthusiast who loves trying new recipes.

My favorite things to write about are those that help people and their loved ones live healthier, happier, fuller lives, whether it’s through health, wellness, personal finance, or pet topics.

I also love teaching others how to become freelancers, improve productivity, and run their small businesses through online courses, one-on-one freelance coaching, and digital products.

I cover these topics and more on my website's blog and in my other weekly newsletter that Poynter Institute called a "top resource for freelancers."

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You can learn more about me, my publishing background, and my nearly 20-year freelancing career at DianaKelly.com.

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