How does your hourly rate compare?

How does your hourly rate compare?

How does your hourly rate compare?

What hourly rate do you use in your costings? Well here’s how MyCake users vary:

  • Great news – there are a bunch of you in this top over £100per hr bracket. Mostly this crowd is selling time in various forms of service – design, management, web and graphic work.
  • Reasonable news – the middle groups of £21 to £30 and £31 to£50 are pretty diverse in content – some designer makers, various fashion folks, and various young web designers. Quite a lot of young businesses in here. Make sure you put your prices up as you gain experience!
  • Not so good news – just under a third of you charge less than £20 per hr, some are under £10. This is less than labourers on a building site. Think of your skill levels. Surely, you are worth more than this!

Questions:

  • on what basis do you decide how to price your work or how to cost up a project?
  • how often do you revise these prices upwards?
  • how often do others try to negotiate these prices downwards?
  • how much contingency for unexpected extras do you put in?

When MyCake interviewed artist Binita Walia about how MyCake makes a difference in this area she commented “I am really aware of the prices I need to charge to survive and how much work I need to bring in per annum.”

2 thoughts on “How does your hourly rate compare?

  1. Pingback: How to compare your hourly rate in MyCake | MyCake financial management

  2. Looking at my best-seller product/service, I see 2 options: 1)How to sell more? 2)What difference would it make for my business and my customer if I put the price up?

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