MLM Directory

What should I charge as an hourly wage for my small business?

I recently started a small marketing firm and acquired my first client. I began this for experience only, as I am in my last year of undergrad (Marketing Major at the University of Louisville). Recently my client insisted that I form a contract so that he may start paying me. I have the contract drafted, but I am unsure what to charge for my hourly wage. I have interned at a financial firm for the past 4 years earning 12$ per hour and will continue this job while also working for myself. My services are as follows: •Developing Marketing Strategies •Implementing Marketing Strategies •Managing Online promotional tools •Providing consultation when necessary •Communication to advertising medias •Improve the company's marketing yield •Reporting to the Owner / Operator Administrative duties & periodic, light in store help Hours per week will fluctuate depending on work load, but remain rather low (Ave 7 per week). How much do you think I should charge? Additional Details The client is just starting out, (9 weeks in). 30 dollars an hour as suggested by my first respondent seems a little steep, and I have very little to no overhead to clear, also, I don't have a degree yet. 30 dollars an hour equates to nearly 60K full time, and I have never seen any starting Marketing job offer that much. Don't get me wrong, I'd love to charge that, I just think my client will laugh at me if I approach him with a number like that. Am I totally off base by thinking I should charge lower that 15 an hour?

Public Comments

1. Aaron, I believe you need to get paid what you are putting into the contract. 60K minus all taxes (always estimate takes as 30%) and any benefits you would pay into...now you are really looking at 42K. That's here nor there but a good rule of thumb I suppose to remember. I know you are an upstart business but I have seen over and over again small business owners who under estimate what their time and knowledge is worth. If you don't want to work with a figure of 30.00, then go for 18.00 and hour...I get the feeling you'd be more comfortable asking for that. I'm a former VP in banking and a small business consultant as well as owning a few business of my own. I recall starting out under valuing my knowledge and charging 15.00 and hour, I was working like a fool and slowly came to know I needed to not only protect my time (what I was going to bill for) and charge more. I knew I was worth the money. Your clients don't know that you have no overhead. Consider charging 18.00 and see where that goes. Hope it helps.