As mentioned before, jobs on the oDesk marketplace can be either hourly or fixed price. Some providers prefer one over the other, while many providers like to do a mix of both. Let's look at the pros and cons of fixed price and hourly assignments.
Fixed Price Assignments: pay is based on deliverables, which can be a strong incentive to perform the work required in order to get paid, and there is no need to log hours in the oDesk team – so you will work at your own pace. Inversely, with fixed price assignments, you will earn the same amount of money regardless of whether or not you need to put more hours into the project than you originally anticipated, and there is always the risk of non-payment from the buyer because fixed price assignments have no payment guaranteed backed by oDesk. Fixed price assignments look good on your profile, but do not count toward accrued oDesk hours.
Hourly Assignments: all work done under the hourly assignment format in oDesk is guaranteed for payment by oDesk and working on hourly assignments allows you to build great relationships with buyers who have an ongoing need for your services. Hourly assignments are automatically invoiced and billed to the buyer, and you will be paid weekly for work completed in the previous pay period. On the negative side, hourly assignments give the buyer a greater opportunity to scrutinize the work that you have done for them through screen shots automatically taken by the oDesk Team Client application, and any offline hours that you have to log for the buyer do not fall under the payment guarantee.
Fixed Price Assignments: pay is based on deliverables, which can be a strong incentive to perform the work required in order to get paid, and there is no need to log hours in the oDesk team – so you will work at your own pace. Inversely, with fixed price assignments, you will earn the same amount of money regardless of whether or not you need to put more hours into the project than you originally anticipated, and there is always the risk of non-payment from the buyer because fixed price assignments have no payment guaranteed backed by oDesk. Fixed price assignments look good on your profile, but do not count toward accrued oDesk hours.
Hourly Assignments: all work done under the hourly assignment format in oDesk is guaranteed for payment by oDesk and working on hourly assignments allows you to build great relationships with buyers who have an ongoing need for your services. Hourly assignments are automatically invoiced and billed to the buyer, and you will be paid weekly for work completed in the previous pay period. On the negative side, hourly assignments give the buyer a greater opportunity to scrutinize the work that you have done for them through screen shots automatically taken by the oDesk Team Client application, and any offline hours that you have to log for the buyer do not fall under the payment guarantee.
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