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Hourly Rates for freelance work

Posted on 2013-11-15
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Last Modified: 2013-11-15
Hi,

I was recently approached by a company (myself and the company are in Canada and the minimum pay here is $10/hour) to do some data projection on Excel (single KPI dashboard).

Although I have the required experience, I want to see what is a good rate/suggestions to charge while negotiating? (I have yet to talk with them completely)

I am currently looking at 3 factors. Complexity, time and continues support.

Complexity:
1 Data Arrangements (minimal formulas/data mining)
2 Moderate Data mining involving 10 - 20 tabs/pivots/KPI dashboard
3 VBA plus above (3)

Next is of course time, but this is up to me.

Other one is continues support.

How can I charge this company? Generally, I know that analysts doing this sort of work can get paid anywhere from 50,000 to 60,000 per year or 20-30$. But this is freelance work.

Based on what I gave, and your experience, what can I charge?

Should I charge the same for continues support or lower amount?

Should I offer certain # of fixed hours to debug after the initial report is made?

Any other things to note? Should I be doing a contract? Can I write one or is there usually a goevrnment one?

Should I charge a project fee with fixed hours of support after the project?

Thanks alot!
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Question by:Shanan212
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Scott Fell,  EE MVE earned 500 total points
ID: 39652845
Getting paid $30 an hour as an employee is probably equivalent to getting paid $50 as a freelancer. (remember you need to pay your own tax).  The other part of being a freelancer is you have to account for your down time of either driving, prospecting or meetings.   This brings your hourly rate up even more. (The $30/h as an employee assumes there is a 40ish hour work week you are being paid.  Aim higher...

Yes you should make a contract and watch this http://www.youtube.com/watch?v=6h3RJhoqgK8
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by:Shanan212
ID: 39652850
Thanks!
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