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How do you calculate your per hour value?

  • robertman11 Level 3
    • 6

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    How do you calculate your per hour value?

    Pretty much as the title states, how do you calculate your per hour value as a freelancer (or otherwise related)? If someone wanted to hire you on an hourly basis, how would you come up with the amonut per hour?

    #Hour #Value Freelance
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    TommyCarey

    TommyCarey

    Pretty much you're need to think of what type of work you're getting from the freelancer. Some services shouldn't be valued as high as others like if you're an article writer vs. doing a full blown marketing campaign.

    I'm not bashing article writers, I make money doing that as well, I'm just saying it's much easier to do than online marketing (which I also do). I charge more overall for my online marketing services because it's more intense than doing some research and writing up an article for a client. I'll personally put 20 to 30 hours of work per week into a big clients campaign because they'll take up most of my time slot. Now I'll be putting in 20 to 30 hours myself and I'll have 10 other people putting in around 10 hours each. So when someone is hiring me, they're really hiring 11 people in total. I'm not saying my pay should be increased by 11 times, but me managing that team does take time and since I cherry picked my team over the last 13 years I'd say that should cost a little more since I know everything is almost guaranteed to work well for the client.

    My background and previous clients are also a reason for me to be able to increase my pay per hour since I've been doing this since I've been doing online marketing since 2003 and I don't mean to toot my own horn, but I'm pretty good at it ;)

    Would you pay a surgeon pennies on the dollar to cut open your skull and play with your brain? Nope, they did the time in school and now should be paid what they deserve How do you calculate your per hour value?


    But in the end, you should rate someones pay based on:
    • Previous experience
    • Time in that field
    • Projects completed
    • Previous employers reviews (if any)
    8 years ago

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    hitmeasap

    hitmeasap

    Hey robertman11,
    This was a good question. I have never worked as a freelancer on an hourly basis but in case I would, then I would probably calculate my salary based on the work. For instance, my main business is branding work and I use mainly different forums in my work.

    If I normally charge, let's say $2 per post I do, then I would basically just figure out how many posts I produce in 1 hour.

    So, then it would be something like this:

    1 post = 5 minutes.
    12 posts = 60 minutes.

    1 post = $2
    12 posts = $24

    That would basically be $24 per hour, for this type of work.

    With that being said, this calculation would obviously not be accurate in case I would be hired for any other kind of work.. And I wouldn't be able to base my salary on this alone, as various tasks would be different compared to others, but I would probably still have this as some sort of guideline.


    Best Regards,
    hitmeasap
    8 years ago

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    EliteWriter

    EliteWriter

    I would calculate how many articles of a certain word count I am most likely to complete in 1 hour, and based on that I will come up with an hourly rate. Everybody is going to calculate this differently depending on the type of service that they offer. Some services will take longer than one hour, and so that would require a different calculation. But for me this works out fine as it all revolves around the word count in my case.
    8 years ago

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    Lynne

    Lynne

    Yes I can see how different services would have different values.

    I don't freelance but I do offer some services on my mommy blog for people that want advertising and I also worked out my pricing according to the amount of words I offer in the post.
    8 years ago

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    MasterA

    MasterA

    This is a good question! The amount of money I charge per hour depends on the work. Due to the uncertainty of hours I will take, I will normally charge them more assuming I need to give them the number of hours beforehand. For example, for coding work, if I charge per hour, I would charge around $23 per hour although I will be happy with $20 per hour because I may take longer depending on the work.

    On average, I charge $20 per hour for freelancing work but this may change depending on the work. I think it doesn't really matter much fast I work but the important thing is that I am willing to do work for $20 per hour.
    8 years ago

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    ajlancer

    ajlancer

    Hi robertman11 you are asking very importance question about calculate per hour value. Though, it is depend on service basis and it should not be constant. I am using a method myself to calculate value of hour.

    For example: I have a service which need to complete in a week, I means 7 days. So, now I am going to calculate how much hour I have to give for this project to complete?. And If I see 4 hours for each day, it is meaning that 28 hours have to give for this project for 1 week. Next, I will calculate all productive cost for this project. And if I see $10 for 1 hours, then I will be calculated $40 for each day and $280 for full project.

    1 week = 7 days
    4 hours for each day =28 hours for full project
    $10 for each hour = $280 for full project

    And this way I can calculate small and big job.

    Regards by Ajlancer
    8 years ago

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