How to ‘avoid’ the gender pay gap as a freelancer

Since International Women’s Day, the team here at Mint have been thinking about the gender pay gap, which, by the way, is pretty seismic in the world of freelancing.

Research shows that self-employed men make almost 50% more than women in the gig economy.

Setting fair rates is all about having faith in your skills and abilities – so don’t be afraid to say ‘no’ to a client that isn’t meeting your financial expectations.

Carry on reading for our top tips on setting a pay rate that pays:

• Research: if you’re going in blind when it comes to setting your day rate, then how do you expect to earn in line with the industry standard? Use platforms such as YunoJuno for better insight into typical rates for your role and level of expertise.

• Be transparent: speak to your fellow peers in the contracting sphere and share your rates. Not only is this mutually beneficial, but also a step in the right direction when it comes to salary transparency.

• Take a freelancer pay survey and benchmark yourself.

• Aim high: sometimes freelancing is a game of bartering so it’s best to go in strong and pitch high, with room for negotiation. Apart from a lost sneeze, there’s nothing worse than agreeing to a rate, only to realise you could have charged more…

What factors should I take into consideration when deciding my pay rate?

• How many years of experience do you have? This can drastically change how much a client might be willing to pay for your skills.

• Unique skillset: if you’re qualified in a niche area or have technical skills that are high in demand then you’re in a very good position to charge higher rates (within reason).

• Location: one of the beauties of being a freelancer is that you often have the freedom to work with clients from all over the world. However, do bear in mind that the amount companies/clients are willing to pay may vary depending on location.

• Endorsements: with high credibility comes high pricing. Ask previous clients to share an endorsement which you can post on your LinkedIn or website as proof of your excellent work and credibility.

We wish you all the best on your contracting journey from here on out – keep pushing for the pay you deserve!

Got any queries? Our team is here to provide you with trusted advice. Give us a call on 02039676846, or email us at [email protected].