Setting Your Hourly Rate

One of the biggest questions that many new providers have when it comes to getting work on oDesk is how to best determine their hourly rate. While it would be all-too-easy to simply advise these providers to assign their hourly rates at what they should be making at a regular job, the online marketplace for freelance providers is very competitive. If you could expect to make $40 an hour working a 9-5 job outside of cyberspace, you can expect to find many buyers who will pay you the same or even more on the oDesk system. However, for beginning providers who have not built up their reputation on oDesk, it might be necessary to set the hourly rate a bit lower; even half as low, in order to snag that first opportunity. Once provider feedback has been established and a history of good work performance has been documented on the provider profile, you can slowly inflate your rate to a figure that you are more comfortable with. Asking for less in the beginning can be considered an investment in your future as a remote freelance professional.