How much to charge as a freelancer?

Excellent question, right? When we start in the freelance modality, perhaps one of the most critical aspects is precisely how much to charge as a freelancer. Being linked to a company under the traditional contract model, you forget about the administrative burden that this entails, contract preparation, affiliations, supplies, supplies and, of course, salary allocations. Pricing your work is a task that requires objectivity and a cool head. You cannot expect to become a millionaire with your first contract, but neither can you undervalue your skills and experience.

Being a freelancer in Colombia brings many challenges and one of them is to change the mentality of the employer or contractor, if you are independent does not mean that you do not have additional costs and expenses to your fee to perform your work efficiently and neither that hiring you under a freelance contract will be more expensive for the company. The value you charge for your services should include, among others, not only those tangible expenses such as the tools and/or materials you use to perform it, but also include intangible expenses such as your experience, your expertise and something very important, your time.

In order to manage to cover all that is required in your rate, let’s review the following variables:

Organize your time:

You must be clear about the hours you will dedicate to your work, daily, weekly and even monthly. Keep in mind that one of the greatest benefits of being a freelancer is that you can manage your time, don’t waste it!

Check the characteristics of the client or project:

We are all a different universe and in the work area universes are infinite. Do not standardize your work method for all clients. Each one will have its own needs and requirements, so the rate may not be the same.

Delimit the scope of your proposal:

When we present a proposal to a potential client we intend to cover their needs from all sides, however, we must be clear about those that are part of the rate offered. Generally, the client has in his head the project in general, without breaking down the details, so you must be very clear on the limits of the project, without forgetting that if the client insists on certain parameters being met and these are not included in the initial proposal, we will have no problem in adding them ratifying their extra value.

Keep yourself informed about market rates:

Although we cannot merge the rates of freelance services, even if they are in the same field of action, we should not leave aside the average of these. Don’t be afraid to ask a colleague for help, remember that sometimes seeing from the outside helps to have a broader context.

Recognize the profitability of your services:

When you make an investment, whether it is represented in time or money, you expect to receive some kind of return. Therefore, when investing in a project you should recognize in advance those advantages that you will perceive at the end of the project.

Payment of taxes and legal expenses:

Even if you are a freelancer you cannot get rid of the legal part, although we deny it, the administrative burden in this area is high and, in general, you must resort to a specialist to take care of it and do it correctly and on time.

Remember that to stay current, you will have to continue training and specializing in certain tasks, so that your clients will become loyal to you and will prefer your work over others. There will always be someone who offers their services at a lower cost than yours, but keep in mind that what you do is unrepeatable and you are the only one who can give it that stamp.