How Much Do freelancers earn?

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It’s no secret that freelancing or freelancers has grown in popularity over the past few years. Thanks to sites like Upwork and Fiverr, it has lead people not yet in this system to wonder how much freelancers earn.

The pay may not be as consistent as if you had a full-time job with one company, but with some hard work and dedication, you can make more money as a freelancer than you would in any other employment arrangement.

Read on to learn how much money you can make as a freelancer and what you need to do for a consistent earning.

Earnings for a newbie freelancer

New freelancers typically make between $20 and $40 per hour or between $15,000 and $40,000 annually, depending on their niche. The number of freelancers who earn over six figures annually has grown substantially.

That said, you shouldn’t expect to reach those earnings right away. According to 30mins.com, it takes most people three years to go from making around $30K per year to reaching that six-figure mark. But, of course, your rate will improve with experience.

Average earnings for an experienced freelancer

The average earning for an experienced freelancer is $45K-75K per year. It depends on your niche and where you reside.

For example, if you are a designer living in San Francisco, California (one of the most expensive places), and your earnings will be much lower than someone living in Nashville, Tennessee. The experienced median salary for freelance designers who work out of their homes is $50K.

If you work for an agency or other third party that does all of your marketing/management for you, then your salary would be higher depending on how much they take from each job and how many clients they are juggling at any given time.

How to make good earnings

1. Be organized: Many freelancers are disorganized and spend more time looking for files than actually working on projects. A good place to start is making folders for each client, with subfolders for each project.

2. Charge what you’re worth: If you want to make a lot of money, you have to charge accordingly – that means charging at least $25 per hour or more if you’re good at what you do and can demonstrate your value to clients.

3. Take it like a business:  If you’re not treating your freelance work as a real business, you will have trouble making money. This means setting goals and milestones for yourself, tracking your hours and expenses, and keeping good records. It also means creating systems for repeatable tasks so that you can scale up when things get busy.

4. Be a networking expert: If you want to earn in freelancing, you have to market yourself and build your reputation. It means getting out there and connecting with other professionals in your industry, starting with your network.

Wrap up  

The amount of money you make as a freelancer depends on many different factors. The more advanced your skills and position in your career all play into how much money you can make. As with any job, these factors also help contribute to how much you get paid per hour.

Although it varies from person to person and business to business, there is no reason why you can’t be earning $100 an hour or more.

However, when everything comes together for an experienced freelance programmer or developer, top companies are willing to pay top dollar for those that can provide great services efficiently and quickly.