Have we talked about hourly rate? What's everyone's time worth?
[filtered from 52 💬🗨]
Unless I enjoy working with the person or taking on a new client, my hourly rate starts at $175.
There are some niches I have no experience in however that I take on for far less until I have a good command of them. 👍🏽💟9
Thanks for sharing! Does the client have to take a minimum set of hours when you decide to work with them ?
Mew 👑 » Luz
– Yes sir. In most cases I won't take on personal clients for less than 3-5k a month, unless they meet the above requirements. 👍🏽2
Luz » Mew
Sounds good to deliver the perfect results for them 👌🏼
It also helps to create an added value idea to the client that the money that is being invested will have a return on investment.
And of course with that amount of money spend, clients will treat you seriously and with some dignity 😉 👍🏽1
Although I don't work on Upwork but my content writing price is $10 per 1000 words and SERP 1st page rank Search Engine Optimization (SEO) price $200-$300 per month (various niche). 👍🏽1
sent you a mesage 💟1
Shahil Shah » Zortzis
I am interested in content writing services from you. Please share your portfolio. 💟1
Zortzis » Shahil Shah
Please check your inbox.
Garcia ✍️ » Mew
and others, how much of your hourly rate is dependent on your expertise vs the help you have?
I'm at about $125/hr but as I start to grow my own agency I can see that increasing with efficiencies brought on by more help. With the additional help I can learn to handle larger clients I only would've been able to do at an agency with the right resources.
If we're talking about an agency based model, my hourly is not $175. This is strictly as a freelancer for clients I take on the side.
My recommendation for agencies is to use a known business model where your expenses are as follows:
Employee / Hourly Costs: Up to 32%
Taxes: 20% Before P&L Max
Debt: 10% Max
Marketing: 10% Max
Utilities / Office: 10% Max
Profit: 18%+ depending on the above.
As you bring more people on, make sure not to exceed a 32% cost of service. As you grow your profitability on a monthly basis, the 32% will decrease. When this happens add new people at an amount that is the difference between the new profitability margin and the employee or hourly cost of up to 32%.
All the numbers above are flexible, other than your employee / hourly cost of freelancers. Do not ever exceed this or you will start having to pull away from other places to make payroll.
Jonathan Kiekbusch may have a different formula and is very knowledgeable in this area, but this is what I have seen work the best in the United States, personally. 👍🏽💟8
Garcia ✍️ » Mew
been looking for this gold! Is there a podcast or videos on this? Right now I have a few potential clients in the pipeline that are big migration projects so I'm looking to find help that knows enough I don't need to babysit but isn't too expensive – we need to find a sweet spot somewhere. Thanks! 👍🏽1
Mew 👑 » Garcia
– can Google the percentages.
I learned them in business school way back when. Typical formulas companies followed to get to Fortune 500's.
This says up to 50% for services but I would not recommend going that high. They're probably talking about traditional services.
How to Calculate the Employee Labor Percentage 👍🏽1
Thanks for the tag Mew, Its difficult because we bill out fixed retainers and don't really bill hourly in the Agency. Just because clients rarely know how much work really goes into working on a medium sized site.
On my consultancy side, I bill the hours according to who it is, what they are doing and what they can afford.
Which means that I do hours for $100, but also for $1000.
So yeah I'm sorry, no really clear answer from me on this one. 👍🏽2
Garcia ✍️ » Jonathan Kiekbusch
looking at it from another pov, how much is your time worth? Assuming you don't want to learn from the experience, say like doing laundry or taxes, etc. You're willing to pay someone $x to do something up to which point then it's not worth it?
Actually it was my Lawyer, who manages my portfolio that preached to me from day 1 about "buying my time back". And it had a huge impact for me. I value my time very highly, which is why i try to buy it back wherever I can.
I got kinda obsessed with it at some point, hired a cleaner for the office (before I used to give it a weekly clean with my wife just because im hands on like that), Hired a water delivery company rather than buying supplies myself, and then it got a bit insane, I got an electric mug heater for my desk so I wouldn't go re-heat my coffee all the time.. Hhahahahaha
Joking aside, yes time is very important, and in my own personal experience its important to charge what your time is worth and making sure you are ROI positive on that fee. 👍🏽💟3
I don't charge an hourly rate. For website management I charge a monthly retainer depending on how we agree with the client. For my article writing service I charge a standard rate of $20 for 1,000 words.
I don't bill hourly, but internally I price projects at about $175/hour.
is this factoring commissions? Or what promises do you give with this rate? I’ve spoken to many people with high hourly rates, none that high. Not saying it’s bad. It’s more a goal.
That's factoring in all overhead. I do more than Search Engine Optimization (SEO) for my clients however, so there are other services involved at that price point.
You guys make me figure out that I am selling myself for cheap really… 👍🏽1
that's part of the reason I asked. I would say my income has risen 50% over the last year just by realizing what the market rate is for my work. Anyone else experience the same?
Mew 👑 » Garcia
When I first started, yes. Years 1-5 my hourly went up 25/hr. Years 6-12 much slower as my skills became more repetitive instead of discovery…if that makes sense
I knew what I was capable of, and didn't have to guess any longer. 👍🏽1
Can anyone share how do i know? how much my hours rate should be because i didn't work under and hourly base system. I have referral client mostly i didn't work in hourly base. I know its seem stupid 😒 but it true plz guide me🙏
generally speaking you take the total of how much you got paid and divide by how many hours you worked. Say the last 5 projects you worked on you got paid $1000 and worked 40 hours which is $25/hr.
There are also other factors like insurance, level of difficulty, market rates, etc that go into deciding how much to charge. I know it might seem intimidating but try literally asking your colleagues how much they're making for similar work (which is why I posted this!). It's helpful to see what the market rates are compared to where we believe our expertise is. For example based on Mew's commentary, I estimated his salary to be at or higher than what he said ($175/hr). I have a good estimate on where I stand in this group, for example, and know that charging $125 is about where I should be considering my knowledge, ability to answer questions in this group, and easily understand concepts.
Maybe a good litmus test would be the easier you can understand everything that is posted on this chat and able to have your own expert opinions on a topic, the closer you are to that $175+/hour rate.
Suraj » Garcia
thanks, that's mean my hourly rate is worst as compare to all comments in this post 😂😂😂😂
Garcia ✍️ » Suraj
you also have to consider the rates are in each person's currency. But that's good that means to check yourself and raise your rates if you feel you can/should! I had the same realization a couple years ago and has been super helpful. 👍🏽1
Suraj » Garcia
oohh great that's mean i need to work hard more just be in this group for guidance 🙏
Want to learn more from all you experts 🙏🙏
I’ve stopped doing Search Engine Optimization (SEO) for clients and have focused now on my own projects.
I can advise anyone to learn web design and combine that with your SEO skills.
That really is the way to move forward or else you’ll be stuck all the time in working for projects instead of projects working for you.
I just finished a complete structure for 5 e-commerce sites and looking forward to work on them for the next two years.
This next to various other lead generation sites that are ranking in the top of google.
It’s all about residual income in the niches that you find interesting!
I hope that anyone find this useful. All the best. 👍🏽💟2
lead generation sites, are they like rank and rent model?
Luz » Maher
is there any course etc from where we can learn about that? also, I have heard its hard now to get Google My Business (GMB) approved on virtual address etc.
Luz » Maher
I can teach you but I would charge you accordingly and guide you as well.
Write me if you’re interested with the budget that you have reserved. 👍🏽1
just sent you a pm. 👍🏽1
Luz » Maher
Just replied. 👍🏽1