March 4th, 2010

Thoughts on Freelancing Rates

Our new freelancing friends often ask us about how much their hourly rates should be. It’s a common dilemma and one that inevitably ends with the phrase “it depends”. Sure there are average rates in the market, a range that collectively we feel the market will bear. But that’s a very localized thing. So much so that across the Denver metro area you’ll find significant differences north to south, east to west.

What everyone should be focused on is find a balance point between the market average and their skills—one that leans toward value for the client. It’s that value quotient that keeps you at the top of the list when clients have new projects. How do you figure out your pricing for new clients? What about repeat clients? What about work that comes to you through other freelancers?

Today Seth Godin takes and interesting view on issues around these questions in his post Open Buying and Open Selling.