For a freelancer, your hourly rate refers to the amount of money you charge per hour for your services. This means that you will bill the client based on the amount of time you spend working on the project, and the hourly rate will be multiplied by the number of hours you work to determine the total fee for the project.
The hourly rate is typically negotiated between the freelancer and the client before the project begins. It may be influenced by a variety of factors, including the freelancer’s level of experience and expertise, the complexity of the project, the expected time commitment, and the prevailing market rates for similar work in the freelancer’s industry and location.
To understand what your hourly rate should be, use our free calculator.
Clients may prefer to work with freelancers who charge an hourly rate because it provides a transparent and flexible way to manage project costs. This allows clients to adjust the scope of the project or the amount of time allocated to it as needed, without committing to a fixed fee upfront.