You’ve found a client.
You’ve scaled through the initial hurdles of getting a freelance gig.
However, a seemingly trivial problem is now obstructing your path to earning your first paycheck from that client.
You must negotiate a favorable freelance rate without sounding ridiculous.
Your expected pay rate should also be commensurate with your skill level.
The same industry roles might have different pay depending on skill level and experience.
But how do you determine what people in your industry with similar experience and expertise are earning?
Most times, it is going to be data from salaried roles.
But doing this isn’t as simple as it sounds.
Also, you don’t necessarily need to base your MAR on what your full-time salaried counterparts are earning.
You should earn more if possible, considering the extra expenses you’ll accrue as a freelancer.
Always deduct potential Wi-Fi costs, power bills, transportation, and other logistics from your MAR.
The remainder is what you’ll truly be earning.
Here are some otherthings you should take into consideration when setting your freelance rates.
Be Strategic in Timing
Timing is very important in negotiating higher pay.
Start talking about it ahead of time, some months ahead if possible.
No one wants to be ambushed with a sudden rate hike.
A video call is the closest to a one-on-one you’ll get in the context of a remote negotiation.
How does a video call favor you?
A voice call works as well, although not entirely as effective as a video call.
If you have cold feet about video calls, you could rehearse your selling points ahead.
Communication skills are one of theessential skills you’ll need to succeed as a freelancer.
Text-based communication channels like emails also have their advantages.
Real-time conversations can put you under pressure while negotiating.
It gives you less time to ponder before dropping arguments.
It’s all a matter of personality and what works for you.
you’re free to even adopt multiple channels if there’s room for such.
The better the communication, the more effective the negotiation.
Politely asking about your client’s budget for a project helps you reduce the possibility of underselling yourself.
It also helps by pushing the pressure of negotiation on the client.
But what if the client asks before you get the chance to?
you could say something along the line of:
1.
What is your budget for this project?
Can we revisit this topic once we establish a clearer idea of what needs to be done?
My rates are flexible, and I can adjust to each client’s unique requirements.
What is your budget range for this project?
However, I’m open to some adjustments based on your budget.
What’s your budget for this project?
That makes perfect sense in a salaried position.
It could be mistaken for either desperation to score a gig or to be indecisive.
Sometimes, you might not necessarily need to attach extra deliverables.
Simply emphasizing what they’ll get at the upper pay rate can do the trick.
Did you bring in more revenue?
Did you solve a tough or recurring problem?
Highlight everything youve excelled at and gone beyond while working for the client.
The idea here is to emphasize the value you’ve added to the client.
One way to justify a high rate is to throw in your accomplishments.
Seek a Mutual Outcome
A successful negotiation should establish a win-win situation for both parties.
You deserve commensurate compensation for your skills and effort.
However, always give a shot to meet the client halfway if negotiations go further than a few rounds.
Making a client give in reluctantly isnt healthy for a professional working relationship.
Regardless of the client’s reception to your rate proposal, stay positive and professional.
