How Much to Charge as a Freelance Video Editor
A few questions you may have asked yourself since becoming freelance maybe, how do I know when to raise my rates? Or, what if they ask for a flat rate? Or maybe… Where do I even start?
Today I am going to share some of my tips and experience you may need to find out how much you should charge!
So where exactly should you start?
First of all, your location could be a big factor. A rate in LA or New York will be very different from my rate here in Pittsburgh. But let’s just say you’re working remotely, that can be even more competitive as you’re competing with the whole world!
My first recommendation would be to check out Upwork and research the rates offered at various jobs. Pick the ones that suit your skill level and continue to look and see if there’s a pattern from those clients and what they can afford.
When I was starting out, I took a job on Upwork for a flat rate of $10… But by doing that, I gained more experience and got my foot in the door on Upwork, and I even received a five-star review out of it! So with that being said, you should consider playing the game a little bit when you’re starting out. You may have to take a few jobs that are below what you think you’re worth.
Now, how do you know when to raise your rates?
I would feel it out every year after you refine your skills and evolve into new jobs. Be sure to increase your rates as your skills increase. I started at $15 an hour just trying to get that experience, but now it has gone up to $30 an hour! I would say raise your rate $5, give or take, every year depending on the experience you have gained.
A few hourly rates on skill could include:
Beginner: $20 - $45
Intermediate: $45 - $80
Advanced: $60 - $100
What if they ask for a flat rate?
I am not a fan of flat rates, I feel like they cut me down a size. What if a client says, “Hey, so I can only afford to pay you this much, no matter how much time you have to do it”? It can be hard to evaluate yourself, especially when starting out.
You must consider, do you want this gig at all costs? Estimate the maximum amount of hours you will need and subtract 2 from that. If you don’t want to sell yourself short, estimate the amount of hours you will need and add 2 to it. If you multiply that number with your hourly rate, that should give you an accurate estimate!
How do I say no to a rate?
This is a loaded question, and I break it down into two parts:
When to say no to an offered rate
When to say no to a job in general
Personally, I measure it on a level of desperateness when saying no to an offered rate. Your client doesn’t know your business; maybe you haven’t had any work up until now, or you really need the money. Only you know your current status. So with that in mind, do you need this job, even if it’s $10 below your current rate? If it’s long-term, I would definitely consider taking it. I would like the comfort of knowing you have this job for a while without the stress of having to search for another client shortly after. Keep in mind you should always find out the duration of the project and keep track of your hours; even if it is a flat rate gig!
One tip someone told me that comes in handy when saying no to a job is this: If you don’t want to begin that job as of today, do not take it. If you don’t want to dive right in, you’re only going to be wasting your time and the client’s time. Consider the why when thinking about taking that job!
Written by: Jen Buterbaugh
Research by: Kelly Bench
