FreshBooks analyzed its customer base and found that, contrary to conventional wisdom, freelance creative professionals are actually out-earning their full-time counterparts, living well above the cost-of-living in expensive cities like Seattle, San Francisco, Los Angeles, Chicago, New York City and Austin, Texas.
“We hear from freelancers all the time who don’t have access to real market data to help them determine what they should be charging, and as a result, end up underpaid for their expertise,” said Mike McDerment, the co-founder and CEO of FreshBooks. “When we took a closer look at the data what we found surprised us: self-employed creative professionals are not only earning more than their salaried peers—they’re thriving in some of the most expensive cities in the United States.”
Key findings include:
-Self-employed creative professionals across fields charge a median rate of $60/hr. -Compared to their salaried peers, self-employed creatives bring in more money annually across fields. Freelance marketers and interior designers bring in the most per hour—at a median rate of $75/hr—and writers bring in the least, at a median rate of $48/hr. -Despite the high cost of living, high concentrations of self-employed creatives choose to live in major US hubs. The amount of money they make per year varies widely, from $37,200 a year in Chicago to $75,600 a year in New York.
Click here to read more findings on the Freshbooks site.
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