While freelance work can be an incredibly liberating experience for marketing and design professionals, financial stability is far from the most notable perk. With shifting trends, pinched budgets, and picky clients, there are times when it seems like a standard 9 to 5 would be more than welcomed. But with that kind of freedom comes a lot of benefits, so freelancers need to always be aware of the latest trends in the industry. And one of those latest trends is so significant that it can have a 65 percent impact on your income.
According to a recent study from HubStaff, freelancers with a website charge their clients 65 percent higher hourly rates on average that their website-less counterparts, highlighting the fact that in this day and age, you need a website to prove you're legitimate. This is particularly true if you don't have the experience or geographic advantage on your competition.
“While location and experience influence hourly rates, we discovered that two other factors play into the rates freelancers command,” wrote Madhav Bhandari, author of the study from HubStaff. “Specifically, highlighting your work on a business or personal website—or with a GitHub profile—can significantly increase the rates you charge.”
To be more specific about the difference in hourly rates, freelancers with a website charge $33.90 on average, whereas freelancers without charge only $20.57. And while that may not seem like a lot, a $13 an hour difference is nothing to scoff at. With nearly 40 percent of freelancers claiming that their clients budget is the most significant factor in whether or not they will get the job, every dollar counts.
This report had a wide range of meaningful takeaways in regards to the freelancer market, including the fact that the United Kingdom has the highest rates in the world for freelancers, while the Philippines has the lowest. Additionally, as something that can be filed in the “Obvious but good to know” category, freelancers told surveyors that long term projects are the most profitable means of making money.
If you're interested in learning more about the state of the freelancer, check out the full report here, and be sure to stay ahead of these trends. Otherwise you'll end up back in an office and we know no one wants that.
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