Freelancing feels like the dream for many of us, but only if we can make sure it’s financially viable and fits around our home life.
There’s still a lot of mystery surrounding how much freelancers really earn, so it’s definitely interesting to check out new research revealing that the UK’s average day rate is £129.85.
That’s equivalent to an annual salary of £33,111.75, which is slightly higher than the UK’s average full-time salary of £31,460.
However, the research by Tide also reveals a pretty grim gender pay gap among freelancers. Whereas male freelancers charge an average day rate of £149.48, female freelancers are charging just £120.38 –– 19.5% less.
That’s markedly higher than the UK’s overall gender pay gap among full-time and part-time workers, which now stands at 15.5%.
The freelance gender pay gap is widest in the legal sector, where male freelancers are charging a massive 56% more than their female counterparts.
“Some freelancers make the mistake of thinking that low day rates are a form of kindness or generosity, and that they can help make you more accessible to good people who need your help,” says Tide’s Kerstin Reichert.
“And while this can be true,” she adds, “low rates are also an accidental invitation to bargain-hunters who are too focused on money to recognise good value. This can mean that the freelancers who charge the lowest rates have to deal with the most difficult clients.”
Reichert’s advice isn’t to rule out charging less completely – but only to do so once you’ve taken all factors into consideration.
“There is nothing inherently wrong with charging lower rates, but if you find that many of your client engagements are problematic, your pricing strategy could be part of the problem,” she says.
Check out the average day rates in 13 different sectors below:
Legal (£182.81)
Finance and Accounting (£166.32)
Construction (£160.28)
Media/ marketing/ advertising/ PR & sales (£149.36)
Hospitality and leisure (£148.89)
IT & telecoms (£142.38)
Retail (£120.66)
Education (£111.48)
Other (£104.85)
Transportation & distribution (£92.09)
Manufacturing (£91.11)
Real estate (£90.00)
Medical and health (£73.36)
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