How Much Do Freelancers Really Make? (Hint: It’s More Than You Think)
How much are freelancers earning?; That’s the question they keep asking me every time I tell anyone what I do for a living. The next question that often follows: How did I make $5000 a month?
You see, the thing is, $5000 USD may not sound like a lot in the US, but in a country like Sri Lanka, it is considered a lot. In fact, it is about 10 times the salary of a manager working in the highest paying government job.
What they say about freelancers earning more than employees is true.
So, you can understand why people don’t believe me when I tell them how much I make working from home. Finally, they are all curious and want to know how much money they can make from home.
There is no real answer to how freelancers get paid or how much money you can make as a freelancer. Because it depends on your work, the knowledge you have, and the knowledge you have developed.
So, instead of giving you the correct number. I will share a few success stories and real numbers to give you an idea of how much freelancers make and show you that making $5000+ a month is not impossible.
The Stats and Surveys
In May 2015, Contently conducted an interesting survey among 643 employees asking them 25 questions. According to the survey, 80% of freelancers identify themselves as writers and 80% are consultants and journalists. Only 10% make independent producers and video.
Of the 643 employees, only 62.5% were employed full-time. However, they were making a lot of money.
“The median income for all respondents is $10,001–$20,000. Slightly more than 19 percent of respondents made more than $200,000 in the past year, including about 5 percent who earned six figures. ”
What was even more amazing was the work they had to do to get it. 41% of self-employed people worked just two hours a week to make ends meet by working just 10 hours a week.
How much are freelancers earning?
Making $10,000 a year may not seem like much, but keep in mind that some of these pioneers were relatively new to the field. And they did more than their daily chores. A survey conducted by UpWork gave us plenty of evidence of that.
“The majority (60%) of self-employed people who left traditional jobs are now earning more – Nearly one in four (23%) said they left their employer to work for themselves.” , 78% indicated that they had earned more than a year or less.
The Success Stories
A quick Google search will show you tons of results for free success stories.
One of the stories that caught my attention came from Medium where Jyssica Schwartz wrote about how she made over $10,000 in one month.
A book editor found a way to promote his business within a month. Of course, that $10K monthly income didn’t happen overnight.
What is his secret? As he explains, he now has a few different types of customers including customer care. But he says most of his money comes from referrals.
That’s what happens when you give great work. Customers will refer their friends and other writers to someone who delivers the best results.
How much are freelancers earning?
Linda Formicelli is one of the top freelance writers making over $250 an hour. His most recent article on CopyBlogger dates back to 2014. In this article, he explained how he makes $250 an hour from his freelance writing practice.
Imagine, if he works 10 hours a week at $250 an hour he makes $2500. This includes $10,000 per month.
His best advice was to never take an hourly rate, which makes sense because everyone works differently. A professional writer will write a 1000 word article in 2 hours while another takes 2 days. In that case, paying $10 an hour means a huge loss. Pay-per-project is a great way to purchase your services.
Jonathan Wold is a freelancer, like me, who makes $5000+ a month building websites. In fact, he did not do the hard work of reporting. He builta in the future in mind, business websites using WordPress and made simple improvements to pre-made WP themes with web design skills. His advice was not to take your responsibility lightly.
“If you’re going to make $5000+ a month, you can’t build websites for a few hundred dollars. You’re sticking with your customers. You want to charge the right price.”
The Skills In Demand
As I mentioned before, the amount you can make freelancing depends on your field and skills. For example, while some freelance writers make $10,000 a month, there are freelance programmers who make over $100,000.
According to UpWork, one of the largest freelance marketplaces on the internet, these are the top skills in demand.
- .NET Core
- Landing pages
- Electronic design
- Technical recruiter
If you are a programmer, there is no question about a safe income in your freelance career. The writing and design aren’t too bad. Again, it all comes down to your experience, how you get leads, and how you get jobs. But there are other skills you can learn online.
Now, making $5000 a month might sound like a walk in the park, but it took me a lot of hard work and experience to get here. In my first year, I earned over $1,000 a month. However, I kept learning and trying to improve. And here I am today.
How much does a Freelance Writer make?
While ZipRecruiter sees monthly salaries as high as $22,458 and as low as $997, most Freelancers’ salaries are currently between $3,000 (25th percentile) to $625,000 (75th percentile). The average salary for a Freelance Writer varies widely (up to $3,250), which indicates that there can be many opportunities for advancement and salary increases based on skill, location and years of experience.
According to recent job postings on ZipRecruiter, the Freelance Writer job market in Chicago, IL and surrounding areas is very active. A freelance writer in your area makes an average of $5,737 per month, or $159 (3%) more than the national average monthly salary of $557. Ranked #1 in 50 worldwide for Freelance Writers salaries.
How much a freelancer can earn in Bangladesh
Today, students from top universities around the world are entering the so-called gig economy as full-time and part-time freelancers, inspiring others. The big picture is this: their efforts are turning Bangladesh into a hub of independent recruitment and self-transformation.
There are around 650,000 employees working in the country and working on digital talent platforms like Upwork, Fiverr, and Freelancer, depending on the ICT sector. Their combined annual income is estimated at US$100 million.
Some experts were worried that self-employed wages would fall this year because of the Covid-19 pandemic. However, the epidemic encouraged independence. Freelancers have seen an increase in demand as remote work has become the norm. Also, many entrants to the market – students and young graduates – are joining the gig economy, many of them working to supplement income and gain experience.
What do freelancers do
A freelancer is someone who is paid for any work or activity, usually part-time work as an independent contractor. A freelancer is not an employee of a firm, so he can be free to do different jobs at the same time for different people or firms unless he is committed to working only until one job is finished.
Highest earning freelancers on Upwork
Freelancing is a great option if you want to set your own hours, work from anywhere, or take on projects that really interest you. So, it’s no surprise that more and more professionals are turning to freelancing as more and more companies see the benefits of hiring freelancers through platforms like Upwork. The good thing is that market rates vary, making it easier to find well-paying freelance jobs to match your experience.
In this category, find high-paying gigs and benefits to showcase your skills and talents.
Freelance salary per hour
By 2021, skilled workers can get as much work as they want, with the flexibility to decide their salary according to the level they want in work and life. Freelancing has become a popular option for people looking to supplement their income or as a source of full-time income that gives more control over the tasks they undertake. The demand for talented freelancers has been increasing over the years, and as a result, many freelancers can set their own prices and work on projects that interest them . . . .
How much do freelance writers make a month
While ZipRecruiter sees median monthly salaries as high as $22,458 and as low as $917, most Freelance Writers salaries are currently in the $3,000 range (1st percentile). 25) to $6,250 (75th percentile) across the United States. The average Freelance Writer salary varies widely (up to $3,250), suggesting there may be multiple opportunities for advancement and salary increases depending on experience level, location and years of experience.
According to the latest job postings on ZipRecruiter, the Freelance Writer job market in Chicago, IL and surrounding areas is very active. A freelance writer in your area makes an average of $200 a month, or $300 (3%) more than the national monthly income of $200. is in the range of #1 in 50 countries nationwide for Freelance Writers earnings.