Is it Time to Raise Your Freelance Rates? [Quiz]

July 20, 2017


If you can’t remember the last time you raised your freelance rates, it might be time to revisit your rate card and start earning your worth.

It’s easy to get caught up in the day-to-day tasks of running a business. After all, you have clients to meet and projects to complete. But oftentimes, months (even years) can go by without looking at the big picture: “Am I truly earning what I deserve?” If you respond with a shrug, what’s keeping you from raising your rates?

That’s why we’ve put together this quick, interactive quiz to help you determine if the time to start charging more is now. And, in the end, we’ll provide you with hand-picked resources to help make the pricing process much smoother.

late paying clients

Take the Quiz!

When was the last time you raised your freelance rates?
1. Wait, I can raise my rates?
2. A year ago… Maybe longer?
3. Recently! Just printed my new rate card

When I reveal rates to clients, they…
1. Agree instantly
2. Drop me like a hot potato
3. Go away and assess budgets

How Would You Describe Your Workload?
1. Goldilocks – just the right amount
2. Too little
3. More work than I can do

How do your rates compare to the competition?
1. We’re in the same ballpark
2. I’m charging more
3. I charge less in order to be more competitive

In the last year, how have you grown your skills and business?
1. I’ve invested in learning
2. I’ve learned from every client
3. I’ve been too busy trying to stay afloat

What do you consider when determining your freelance rate?
1. The value behind my work; I’m constantly improving my skills
2. Whatever it takes to minimize client push-back
3. Making every client happy—even if it temporarily means I don’t earn what I deserve

Results

Mostly 3s: Yes! A Rate Bump Can’t Come Any Sooner

The time to start charging what you’re really worth is now. By sticking to your current freelance rates, you risk underselling yourself and taking on far too much work for what you get in return. We understand that talking about money isn’t easy, so we’ll help equip you with the resources you need to earn what you truly deserve.

Resources:

Chase What You’re Worth: 6 Signs It’s Time to Raise Your Freelance Rates
What’s Your Rate? Determine What to Charge Clients Using This Strategy
Self-Employed Professionals: Are You Charging What You’re Worth? [Infographic]

Mostly 2s: Not Yet—But You Should Revisit Your Rate Card Soon

You’re in a steady place for getting paid… at least for now. You’re beginning to get the little inklings to start thinking about your rates, but there’s no immediate need. Keep freelance rate revisions as a low priority task on your to-do list, so when the time does come, you’re ready.

Resources:

How to Handle a Client Being Coy About Their Budget
Quit Chasin’ Payments: Resources and Tips to Help You Get Paid on Time

Mostly 1s: I’m Up to Date & Getting Paid!

Give yourself a pat on the back! You do a great job of always ensuring you earn what you’re worth. You have a clear vision of what you deserve and you’re not afraid to ask for it. Now, it’s time to take your business to the next level. How will you find ways to stand apart from your competition?

Resources:

The Best Invoice Terms to Get Paid Fast


about the author

Content Marketing Manager, FreshBooks Megan Santos is the Content Marketing Manager at FreshBooks. Before joining the team, she was the Editor of a national trade publication and has over 4 years of experience in writing and editing. Connect with Megan on LinkedIn and say hello!