The Business Of Content
Perhaps I'm confused, but it seems like a lot of creative people chase projects no matter how much their client is willing to pay them. If you're of legal working age – especially if you’re a content creator – read on. To enlighten fellow writers, here is the big any other industry or business.
Perhaps I'm confused, but it seems like a lot of creative people chase projects no matter how much their client is willing to pay them. If you're of legal working age – especially if you’re a content creator – read on. To enlighten fellow writers, here is the big any other industry or business: FIGURE OUT HOW MUCH YOU'RE WORTH PER HOUR.
An hour is a commonly accepted unit of time for which you can get paid. It's all math, no sleigh of hand or trickery. To figure this out - as with my previous thread in the Copywriting forum - there's a formula: [Your Fixed Financial Need] + [Your Desired Profit] / [Hours] = Your Hourly Net Worth Net worth = money after any applicable taxes. There's not much theory behind this, it's just commonly overlooked; there's money that you NEED to earn, then what you WANT to earn for fun/savings/other expenditures, and bam - that's your worth. For instance: mortgage/rent ($1000), food ($400), transportation payments ($300), miscellaneous expenses ($300) - this adds up to a hypothetical need of $2k [let's assume that's monthly]. Now, on top of that, you want to earn $500 because you like traveling and want to save up for a vacation. Do the math, and your worth is a total of $2,500. Now, figure out how much time you work a month. Most people work 40-hour weeks, so a month is about 160 hours. Therefore, your hourly net worth is $2,500 / 160 hours = $15.63 per hour. If you live in the US and get approximately 30% of your paycheck's total subtracted for taxes, then that means your official pay must be right around $20-$21/hr.
