Now that is an answer!
Karl
Sent from losPhone
On Oct 11, 2009, at 6:50 PM, "Kerry Thompson"
<al...@cyberiantiger.biz> wrote:
To figure what your hourly rate, take what you expect to earn in a
year and divide it by 2,000--that's approximately the number of
hours a full-time worker works in a year.
Now double that, because you will have no benefits like paid
holidays or sick leave, no insurance (not as much an issue in Great
Britain as it is here in the colonies), and the like. Also, you will
have down time when you will have no work. Plus, you need to spend
non-billable hours getting projects, doing your own bookkeeping,
babysitting the client, and the like.
So, if you were earning ￡40,000 per year, that averages out to ￡20 p
er hour. Doubling it brings you to ￡40 per hour.
Now, here's the kicker. Freelancers (I'm one) charge differently,
depending on a number of factors. A long-term contract (6 months)
you should bill at a lower hourly rate, because you won't have to
spend the time and effort to get smaller jobs, bill them, collect,
do your bookkeeping, and the like.
An emergency contract you should charge extra for. If the client
absolutely must have it by the end of the week, charge double. You
can bet your career that the client and you have underestimated the
scope of the project, so you're going to really be under the gun.
Don't be shy about it either--we all do it. It's not because we have
the client over a barrel, either. It's because we will have to drop
everything, including any social life, and quite possibly a couple
of nights of sleep, to meet their deadline.
Also, consider the contract. How certain are you the client will
pay? I've had deadbeat clients--over the years I've done probably
$5,000 of unpaid work. I just collected on an invoice due last
April, and only then because I threatened to take them to court. I
later found out they have a record of that sort of thing--a friend
had to wait two years to collect on one invoice, and he was a former
employee who departed on good terms!
If your client is Wellogic of Cambridge, MA, get your payment up
front--all of it. If you want to see what I did that took them so
long to pay, just go to www.wellogic.com. Right there on the home
page, top center, the animated text, and the "Certifications and
Awards" box in the lower right. BTW, it was a rush job, but I only
charged them $600 because I expected to get more work from them. Fat
chance now!
So, a lot of things to consider. Length of contract; hourly or set
price; client's reputation; your own experience and skills; what you
need to live on; and other factors.
By the way, just as a comparison, I'm about to sign a 6-month
contract at $50/hr., and I'm a programmer with 20+ years'
experience, including direct experience in exactly what they're
doing. That may be a tad low, but not much for that length,
especially as it is likely to be extended. Plus, the client is a
major publisher with a good track record with contractors.
Cordially,
Kerry Thompson
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