The time when young freelancers worked for a ridiculously low wage is over

Becoming a freelancer was once synonym for a risky leap into uncertainty. Only those with plenty of experience were able to make a decent living with it. Today, the balance is rapidly tilting to the other side. Even though more and more freelancers have been entering the labor market, remunerations have also been increasing year after year. In addition to an increased supply, there's also been a rising demand for freelancers.

Rates report surprises

Even young freelancers are now able to immediately charge a decent daily allowance. In 2019, a starter could procure an average daily wage of 459 euros. An increase of more than 24% compared to the year before. This is evident from the results of our new Rates Report for digital freelancers. 

The current amount may seem to be quite high, but, of course, let's not forget that a freelancer has a lot of costs as well. From paying their social security contribution and an accountant, to saving for their retirement. If you'd earn 200 euros a day, it would simply not be worth it. And yet we’ve come a long way. This spectacular change can undoubtedly be explained by the digitization of the business world.

Rewarding skills

Talent is money. Whoever has the right skills must be rewarded for them. Even as a freelancer. Many companies can no longer count on their permanent employees to keep up with the latest trends in the world of technology. Freelancers, by contrast, are expected to take charge of their own training and development, and to know what is going on. This makes a freelancer productive and efficient from day one. 

According to our Business Manager Ine Franckaert, it is no longer sufficient for companies to focus solely on their own sector. For example, a bank must be able to do more than offer banking products, because large players such as Amazon or Google already do that. Thinking out-of-the-box has become a must more than ever. And that is the specialty of good freelancers. As they carry out assignments, they usually gain experience in different industries. 

Freelancers therefore have a lot of qualities that employers simply do not find within their own company. Good freelancers supplement general skills with in-depth and specialized knowledge. And many companies expect them to transfer their knowledge and drive to their employees. Freelancers have to, as it were, provide a new mindset. 

More job security

In addition to the poor wages, the lack of job security used to make the life of a freelancer a less interesting choice. But that too has changed considerably in the meantime. The classic distinction between a secure permanent job and the uncertain existence of a freelancer has almost disappeared. Notice periods, for example, have decreased significantly on both sides. As a result, companies more and more often find themselves wondering what the benefits are of continuing to work with employees. How you work is much less important than your skills and personality. 

The Future is Freelance

The existence of a freelancer has therefore changed radically over the recent years. They are finally being rewarded for their input and skills, and with good reason. That's something that hasn't gone unnoticed by young potentials entering the labor market. They realize that they can compensate for their lack of work experience through unique skills. That's why they – even during their studies – look for courses to broaden their digital expertise. Simply think of the success of the Digital Masters Academy. It does not scare starters at all to opt for the status of freelancer. On the contrary, more than ever they immediately dare to ask for a competitive salary.

We therefore predict that the trend of recent years will carry on for a while. At companies, the demand for freelancers with specific knowledge and skills is only increasing. And the supply of freelancers will continue to rise, because more and more people are coming to the market with the right mindset. The result will be a veritable community of freelancers.