Tell someone you are a freelancer, first question you will have to answer is how much do you make?
As an individual experienced freelancer you can make up to $15000(INR 10 lakhs) monthly. If you are a firm, you can then make much more and pretty much everything you can imagine. A freelancer's income always depends on several major factors including skills, time, country, working hours, clients reputation. In this post how does a freelancer actually make money? To understand in a better way, think how much a house costs? There is no correct answer. Its cost vary depending on locality, size, floors, finishing, parking and several other factors. In the same way income of a freelancer depends majorly on below factors:
Though freelancing pays you handsomely in all skills but some skills pay you more money in less time. Experienced web developers earn more than experienced data entry clerks. Major part of freelancer’s depend on his hourly rate, it is relatively higher for programmers then any other community. But another fact is a good writer or designer earns more than an average developer. So it depends on how good you are in your niche rather than which niche you freelance in.
Despite of being an expert in his skills, a freelancer might not be able to earn much if he is not good in marketing. Number of projects a freelancer gets, depends on how good he is in marketing his skills and attracting his clients.
Initial days of freelancing do not pay much. In these days a freelancer learns several things like making proposals, crafting profiles, getting quality feedbacks and learning about the nature of his freelancing work. The projects you get in freelancing are identical and somewhat different from the full time job in same niche. Usually the actual income starts peaking after spending 6-12 months in freelancing.
Some freelancers work 12 hours a day for a week and then go on vacation for entire month. It totally depends on how much time a freelancer puts in freelancing. More than 50% of freelancers freelance for 10-15 hours weekly along with their full time jobs. The total income at the end of the month is directly proportional to the time invested in freelancing.
Your freelancing income would also differ depending on country you live in. The reason is your earnings will be in international currency (most probably) and the value of your international earnings will differ depending on currency conversion rates. Also the tax might go higher or lower in different countries.
When I first heard about freelancing, I was in an impression that only programmers can do freelancing. But it is just a myth most of us still believe. Writing, Designing are other two categorie...read more