There isn’t a global rule of thumb or guide to follow; a quick peek in any freelance marketplace shows that any one skillset can be prices anywhere from $1/hour to $100/hour. Rates can depend on professional experience, education, geographical region, and the demand for the specific field.
As more and more people flock to independent work, freelancing is quickly becoming the preferred lifestyle choice for workers all over the world. New technologies make remote working accessible and more productive; online marketplaces and social media networks provide new venues for freelancers to promote their skills and find work; and cross-border payments make it easier for them to get paid, regardless of where the client is and what currency they use.
Freelancing’s growing popularity is driven by global generational shifts and we see that the freelance workforce is mostly led by younger workers who are eager for independence and fresh business opportunities.
Payoneer conducted a global study of 7,000 freelancers from over 150 countries including emerging markets such as Pakistan, Philippines and Ukraine to learn more about their average income, hourly rates and skills. Survey respondents provided us with unique insights into what makes them successful, what rates they’re charging and how they operate.
Younger generations like Gen-Zers and Millennials are a vast majority of today’s global freelance workforce. In Southeast Asia, 82% of workers are under the age of 35, compared to only 47% in North America. On the other hand, we found that freelancers over the age of 55 aka “boomers”, earn more than twice as much as their younger peers.
The worldwide average hourly rate charged by freelancers is $21, higher than the $19 average rate from 2 years ago.
The most popular field of work for freelancers is web and graphic design, programming and IT, yet these fields don’t pay the most due to a high supply of freelancers.
Female freelancers earn on average 84% of men’s earnings across all fields.
74% of freelancers use social media to promote their services, up from 65% two years ago with 21% using Instagram.
