I’ve been offered a part time gig doing social media for a startup. I have no idea how much I should charge (I'm in LA). What is a fair rate to charge? (if it's an hourly rate - then ~20 hours a month + one-time charge for strategic plan consultation?)
I’d take a three-pronged approach to identifying the right number to ask for.
- What are your financial needs? Look back at the past 3 months and figure out what your average monthly expenses are. 20 hours a month is substantial, are you supplementing this? Does this income need to comprise 100%, 50%, 33% of those monthly expenses?
- Check out databases. Something like Angel.co would be great - filter for social media and part time, and you can see a range of quotes people are offering
- Get Creative. Post a link to upwork, social media strategy facebook groups, gagster and other freelancer sites to get quotes for work identical in scope to yours. How are they quoting you? By total deliverable or hourly?
When assessing your proposal, they want to know why they should go with you versus someone cheaper. I’d position it by pointing to work you’ve previously done, and say, I was able to create a x00% ROAS, so I know that my salary will pay for its self within the first 3 months. Boom. Easy money baby.