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Should I become a freelancer & what should I be paid?

Posted almost 4 years ago by Ellie Tibbs
Pexels Bongkarn Thanyakij 3787300 (1)

Whilst our research has shown that a majority of candidates (72.09%) are seeking full-time permanent employment, we are seeing a small increase in the volume of job seekers looking to take up freelance contracts either to supplement a reduced income or make a career change which favours a flexible working option. 

What does being a freelancer mean? 

Going freelance essentially means that you become self-employed and are paid either through a limited company or umbrella company. If you are confused about what this means for you and want to know what route is best for you personally click here to read of freelance finance guide. 

As a freelancer there are many options available for you, assignments/bookings can range from a couple of days to a few weeks or months if there is a lengthy project or you are providing additional support to a business. Before taking the freelance route it is important to conduct some research and identify what types of assignments/bookings are best for you. We advise you have a look at some of the current freelance jobs in the market first to gain a clear understanding of what is available. 

Freelance market post Covid-19 

Though at the start of lockdown the outlook of the freelance market appeared dim, with many loosing as much as 60% of their income due to a reduction in contracts, we are starting to see green shoots of recovery. 

At this moment in time, key areas experiencing growth lie in the digital and tech side of marketing, where we are seeing an increase in availability web & mobile app developers and digital project managers for freelance social media jobs, alongside digital marketing and freelance copywriting roles. Though the creative side is taking a longer time to recover, we do hope to see an uptick in creative artworker jobs and freelance graphic design jobs come September as backlogged projects begin to start-up again. 

What am I worth as a freelancer?

When starting a freelance career one of the hardest things to understand is how you should position yourself financially. 

Our advice to freelancers is to remember that even though they may be starting a new method of working, the skills they have developed either through full or part-time work are still valid, therefore what you would have been paid as an employee should transition similarly into a freelance rate. Remember that freelance and contract bookings can appear quite lucrative however the risk associated with this way of working is much higher. You should always be putting money aside to help ride out those times when you are not working. 

Our salary surveys compare a range of salaries from social media executives to UX/UI designers and media directors, contrasting perm and temp rates in both agency and in-house settings. Available free of charge, they allow new and experienced freelancers to gain an understanding of how they should position themselves in the market relative to location and level of experience. 

Screenshot from Salary Survey Midlands 2019/20

When starting a freelance career we recognise it can be difficult to get your footing, especially within a pandemic led economy. If you are considering starting a freelance career and need some extra guidance, feel free to reach out to our team, who are more than happy to help.

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