Increasing freelance rate

[Eireann]

I've been thinking that I should increase the rate I charge for freelancing. Prices are going up, but mine hasn't. What percentage do all of you think I should increase my rate?

[csquared]

Inflation is everywhere. It is not unreasonable to look at your rates,

I would start by looking into what other people are charging for those services and see how your rates compare.

[mjr]

I've been thinking that I should increase the rate I charge for freelancing. Prices are going up, but mine hasn't. What percentage do all of you think I should increase my rate?

How do your prices compare to others in your industry? Are you "on market", "below market", or what? If you're doing high-quality work (and I don't doubt you are), then look at those prices, and see how many of your clients you think would be willing to pay more.

A quick search online suggests an increase of between 5% and 20%. I think I might err on the lower side there, and go no more than 10%.

Here's an article on it:

https://www.flexjobs.com/blog/post/h...eelance-rates/

[Kristev]

Everything's gone up, except for wages. So you might as well raise your rates a bit.

[Eireann]

I've had two clients ask if I still charge the same rate, which makes me wonder if their rates have gone up. I wouldn't be at all surprised. It's how much that makes me wonder. (How much I should start to charge, not how much they do.)

[mjr]

I've had two clients ask if I still charge the same rate, which makes me wonder if their rates have gone up. I wouldn't be at all surprised. It's how much that makes me wonder. (How much I should start to charge, not how much they do.)

There are a couple of different things you should look at in that situation.

1. Do you need to/should you account for any inflation that may be going on?
2. How much do you think you can increase without losing clients?

Do you feel like you're underpriced right now? If so, by how much? I've actually read stories (I'll have to see if I can find them) of people who have raised their prices by a decent amount and actually gained clients. I'm not saying to do that, just that I've heard of it.

[Eireann]

I asked a friend who works in the same field, and was surprised to find that she charges less than I do. And I haven't even raised my rates!

I definitely need a rate increase, due to inflation. I've had clients ask me if I still charge the same amount. As for how much I think I can increase, that's a good question. Maybe 10%.

[EricKei]

A quick search online suggests an increase of between 5% and 20%. I think I might err on the lower side there, and go no more than 10%.

Definitely worth considering. Also, one possibility If you have any long-time clients who are loyal to you and always pay on time, maybe let them know about the price increase but allow them one more job at the old rate - just call it a "loyalty promotion" and make it (politely) clear that it's a one-time thing

[csquared]

I asked a friend who works in the same field, and was surprised to find that she charges less than I do. And I haven't even raised my rates!

Doesn't mean that her rates are correct.

[Arcus]

I would put it at the same or a little higher than the inflation rate. Maybe add a little more over time. People may not be happy about it, but it's hard to argue against "I held off as long as I could, but my rates have had to change due to inflation."