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Monday, July 11, 2011

The State of Fulltime Freelancer's Income, 2011

First, thanks to all of you who participated in this year's income survey; we collected 176 responses so far. (Didn't get around to it? You can still take the quick, confidential survey. Thank you!)

Now for a snapshot of the results:

Both new and experienced freelancers took the survey. Nearly 10 percent are newbies, freelancing for a year or less; another 21 percent have been freelancing for 1 to 3 years; 24 percent for 4 to 6 years; 13 percent for 8 to 10 years; 12 percent, 11 to 15 years, and nearly 19 percent have been freelancing for 16 years or more.

The good news is that nearly two-thirds of freelancers--65 percent--made more money in 2010 than 2009. Twenty percent made less, and 14 percent made the same amount both years.

And just how much is that?

* 27 percent made less than $20,000 in 2010
* 23 percent made between $20,000 and $39,999 in 2010
* 22 percent made between $40,000 and $59,999 in 2010
* 14 percent made between $60,000 and $79,999 in 2010
* 7 percent made between $80,000 and $99,999 in 2010
* 7 percent made more than $100,000 in 2010

So, there's good news and bad news. Half of full-time freelancers are making less than $40,000. Yet more than a quarter--28 percent--are making more than $60,000 as freelancers. Better yet, when asked about how they expect to fare in 2011, 60 percent said they're on track to make more in 2011 than in 2010. Just 15 percent expected to make less; 19 percent expected to make about the same both years; and 6 percent said it's too early to tell.

Coming next--I reveal the kinds of of work freelancers are doing today.

***And now for my big news! I've inked a deal with Writer's Digest for my new book, which will release in April, 2012. Writer for Hire: 101 Secrets to Freelance Success will build on my earlier books on freelancing, Six-Figure Freelancing and Ready, Aim, Specialize! I've been working on the book for several months and am excited about it. Stay tuned for more facts about what freelancers are making today, and how we're succeeding even in a challenging economy.