What to pay a new hire - Freelance (2023)
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Our insights are powered by over 1.8 million data points from the Movemeon platform, giving you a clear picture of how candidate interest and hiring demand are shifting.
At the heart of this analysis is the Movemeon Hiring Index — a scale from 0 to 100 that reflects how attractive the job market is for employers. In short: a higher index means higher candidate interest per role. When the economy slows, candidate supply tends to rise, pushing the index up. When hiring demand picks up and candidate availability falls, the index drops.
To find out more about hiring with Movemeon get in touch with our team here.
Make sure to check out our latest video where our co-founders Nick and Rich break down the key Q2 Market Index insights.
One of the biggest questions that companies considering hiring a freelancer want answered is how much any given freelancer should be paid.
Using data from hundreds of respondents to our 2023 Freelance & Interim survey, we’ve set out some guidelines to follow when it comes to calculating how much to pay freelancers.
Day rates
Freelancers earn, on average, 43% more than permanent staff in consulting. For an approximate conversion between an existing perm role and the equivalent freelancer day rate, divide the perm salary by 120.
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Average day rate - Analyst
On average, freelancers at Analyst level sought a day rate of approximately £450.
Average day rate - Associate
Associate level freelancers earn, on average, £550 per day.
Manager
At Manager level, freelancers typically earn approximately £725 per day.
Read more bout market insights & trends, interviews with leaders and success stories on the Movemeon blog.
Senior Manager
The average day rate for Senior Manager level freelancers is approximately £800 per day.
Director
Director level freelancers often earn day rates in excess of £2,000. The day rates are, however, highly variable, and depend heavily on expertise and project length.
If you’re interested in learning more about hiring freelancers, talk to our team!
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For more exciting insights about careers after consulting, how to hire current or former consultants and a lot more, join 33,000+ following Movemeon co-founder Rich on LinkedIn.
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