Quick Answer: How Much Should I Charge As A Freelance Project Manager?

How can I be a project manager?

Path #2: Planned project management education and certificationStep 1: Commit to becoming a project manager.

Step 2: Decide which certification you will pursue.

Step 3: Begin your project management education.

Step 4: Prepare for and take your certification exam.

Step 5: Maintain your certification..

How do I set freelance rates?

The first common rule of thumb for setting freelance rates is that the hourly fee for consultants and freelancers should be between 2 and 2.5 times the hourly equivalent of that work in a salaried role. This result of this formula is slightly more than two times the hourly equivalent.

How much do project managers charge per hour?

According to Salary.com, the average hourly rate for project manager consultants is between $59 to $74 per hour, with the median hourly wage being $66.00. On the freelancer site Upwork, the project manager hourly rate charged by consultants varies widely and is between $30 – $155 per hour.

How do you calculate freelance rate?

A common approach to figuring out an hourly rate is to divide the salary you want by the number of hours worked each year:40 hours/week × 52 weeks/year = 2,080 hours.$100,000 desired salary ÷ 2,080 hours = roughly $50 per hour.May 24, 2018

What is Project fee?

A Project Management Fee (PM fee) is charged to generate funding to pay for expenses. This fee is based on a percentage of the total project cost minus the PM fees.

What is a standard general contractor’s fee?

As a rule of thumb, general contractors will charge between 10 and 20 percent of the total cost of your renovation or remodel. This rate will likely depend on the size and scope of your project, your geographic location, and the materials, labourers, and permits required for the job.

Is $25 an hour good pay?

$25 per hour, at 40 hours per week consistently, is about $55,000 per year. Most places in America anymore, this is not an especially good wage (although much of the country works for considerably less). … $25 per hour, at 40 hours per week consistently, is about $55,000 per year.

What is a freelance project manager?

What is a Freelance Project Manager? A freelance project manager is a contractor who leads projects on behalf of client organizations. Some freelancers work completely independently, and others find work through employment agencies or other third parties.

What is the hourly rate for a senior project manager?

Senior Project Manager Contract SalaryAnnual SalaryHourly WageTop Earners$166,500$8075th Percentile$137,500$66Average$112,162$5425th Percentile$80,000$38

What is the going rate for a project manager?

Hourly Wage for Project Management Manager SalaryPercentileHourly Pay RateLocation10th Percentile Project Management Manager Salary$53US25th Percentile Project Management Manager Salary$60US50th Percentile Project Management Manager Salary$67US75th Percentile Project Management Manager Salary$75US1 more row

How much should a freelancer charge per hour?

When I started pricing myself hourly I started with an hourly rate of $30hr. Over time, I kept raising my rate from $30 to $50, $60 and higher. Yet somewhere around that $60 per hour range I noticed a major shift in my mindset.

How are project management fees calculated?

The cost of managing a project is typically a range of the total cost of the project and is very industry dependent. For example, your industry may suggest that PM and PM control costs will be 15% to 20% of the total cost of the project.

Is $20 an hour Good Pay 2019?

In 2019 the Average rent for the entire nation for a 1 bedroom apartment was over just under $1,000 a month or ~$12,000 a year(not including deposit and utilities). At $20 an hour, full time and provided you have benefits like sick leave and vacation you would earn ~$41,600.

How do I become a freelance project manager?

6 Tips for Becoming a Successful Freelance Project ManagerKeep Your Skills Sharp. Even if you’ve been in the industry for years, you are now looking to re-enter on your own terms. … Get Your Name Out There. … Build Your Portfolio. … Set Remote Work Hours. … Keep Communications Clear. … Understand Who You’re Working With.Oct 26, 2018

What percentage should I charge for project management?

The project manager’s charges will typically amount to about 10 percent of the engineering budget, or about 1.5 percent of the TIC.

How do I increase my freelance rate?

How to Raise Your Freelance RatesGive Them Plenty of Time. The single most important thing you can do to help successfully raise your freelance rates is to give your clients plenty of advance notice. … Same Time Next Year. … Don’t Increase New Client Rates Too Soon. … Limit the Increase Percentage. … Hidden Costs. … Show Your Worth.Feb 1, 2020

How do you calculate project management hours?

In general, add 15% of the effort hours for project management. For instance, if a project estimate is 12,000 hours (7 – 8 people), and then a full-time project manager (1800 hours) is needed. If the project estimate is 1,000 hours, the project management time would be 150 hours.

Is $50 an hour good?

So you can extrapolate that $50 per hour = $104,000 a year at 90 percentile . that means out of 100 people , 10 people would make at least that much or more. most job that pay at $50 or more is at the top end and become a salaried position.

Where do project managers make the most money?

10 Top Paying Companies for Project ManagersSouthern California Edison. … Ericsson. … SAIC. … Accenture. … Microsoft. … JPMorgan Chase. Average Salary for Project Managers: $93,349 / year. … Bank of America. Average Salary for Project Managers: $89,950 / year. … AECOM. Average Salary for Project Managers: $89,069 per year.More items…•Feb 2, 2017

How many hours do project managers work?

PositionExpected HoursActual Hours WorkedProject Manager (Intermediate)3737Project Management Specialist99Project Team Member5050Project Management Consultant778 more rows

How much should a freelance project charge?

For instance, if you want to earn $60,000 dollars a year, that means you should earn $5,000 each month. If you intend to work for 40 billable hours each week, then you need to charge $125 per hour. In this case, if a client gives you a project that takes you ten hours, you would then charge them $1,250 for the project.