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What to pay a new hire - Freelance (2023)

In this guide, you'll find out what to pay a freelancer you hire for your business or team when calculating how much to pay them.

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This report marks the third installment of Movemeon’s Quarterly Hiring Analysis — a regular update designed to help hiring managers and candidates stay ahead of the market across Private Equity, VC-backed scale-ups and large Enterprise businesses.

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 35,000+ following Movemeon co-founder Rich on LinkedIn.

Make sure to check out our latest video where our co-founders Nick and Rich break down the key Q2 Market Index insights.



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