Freelancers earn more than traditional workers

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Can you make more doing freelance work than you can on salary? A new report reveals some surprising details about what freelancers earn.

Want to start a freelance career but afraid you won’t be able to earn enough money? Business News Daily and Payoneer have some new statistics that might assuage your fears about what you can earn for freelance work.

Let’s start with the big question: how much can freelancers expect to earn? Although individual freelancing income differs from person to person, a recent Payoneer survey reveals that the average freelancer can expect to take home about $21 an hour. To quote Business News Daily:

“According to Payoneer’s data, the average freelancer works 36 hours a week at a rate of $21 per hour, giving them an annual pretax salary of more than $39,000.”

Freelancers earn more than traditional workers

Here’s another fascinating fact from Payoneer: in most countries, freelancers earn more than average workers working traditional jobs. (Click here to tweet this fact.)Add in the fact that freelancing for multiple clients means that you can lose one client without losing your entire income stream, and freelancing starts to look like a pretty good career move, right?

Of course, for some of us a $21 per-hour wage doesn’t sound like a lot, even if it’s more than you might get at an entry-level job. In fact, Payoneer reports that only 46 percent of freelancers are satisfied with their current income. That’s why it’s it’s important to learn how to earn better freelance rates and negotiate for higher pay. The secret to beating that $21 per-hour average is probably a mix of negotiating rates and promoting your work.

The catch: while traditional employers take taxes out of workers’ hourly wage, freelancers have to monitor their income to account for tax payments down the road.