How much a freelancer earns per hour does not solely depend on one's educational attainment, based on the survey of more than 7,000 freelancers held by an international financial services company.
According to "The 2020 Freelancer Income Report," the worldwide average hourly rate a freelancer charges is $21. This is higher than the $19 average rate recorded in Payoneer’s previous survey. How much a freelancer earns per hour is considered higher than the average salaries in countries covered by the survey.
Released by Payoneer, the report reveals higher satisfaction in terms of lifestyle among people who work inclusively in freelancing than those who split their time with their office-based jobs.
Businesses, according to Payoneer, benefit from the rise of the freelance workforce because business owners can source top-talent without spending on location or overhead costs, making the setup beneficial for both sides of the relationship.
In terms of age, nearly 70 percent of the participants are under 35, while 21 percent are under 25. This youth movement is popular in Asia, where 82 percent of respondents are under 35. In North America, the number is closer to 47 percent.
individuals at the beginning and end of their careers are expected to be exclusively freelancing. Those who are raising a family look for an office-based work because they seek a stable paycheck and sense of security.
Findings also show that education is not a factor for freelancers with high earnings. Those with bachelor’s degrees do not ask for higher fees than those without. The report suggests that the freelance movement values reviews, references, and portfolio as much as traditional educational achievements.
“The freelancing economy has grown exponentially over the past decade, and I believe we can now firmly say that the future of work has arrived. Obstacles that could slow or hinder freelancers’ ability to grow, connect and be successful have been removed,” Scott Galit, Chief Executive Officer of Payoneer, said.
“Freelancers from all walks of life and every corner of the world are empowered to acquire work, set their own wages, market their skills, and get paid how and when they want. It’s our mission to take the complexity and anxiety out of international business for all parties, offering financial services that make it simple for people to take advantage of flourishing global opportunities, and to be a catalyst for businesses to easily acquire the best talent wherever they are and without borders," Galit added.
