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Freelance fees ready reckoner ready

The 2007-8 edition of the Freelance Ready Reckoner has been published.

This year’s report shows that freelance journalists should invoice media clients £288 for a day's work to achieve comparability with a staff journalist earning £25,000. The real cost to an employer of an employee earning £30,000 is £45,138, according to the ready reckoner.

The Freelance Ready Reckoner is published by freelance financial journalist Andrew Bibby, using a range of specialist employment and trade sources. It is available online.
The reckoner provides day rates for freelances working from their own premises, comparable to annual gross salaries in the range £20,000-£60,000.

"The figures in the Ready Reckoner often cause surprise, even to well-established journalists,” said Bibby: “Freelances can be tempted to price themselves too cheaply, in the process potentially bringing down wage rates as well. Both commissioning editors and freelances themselves can sometimes fail to realise what constitutes a fair day's remuneration for freelance workers."

Although designed for journalists, the Ready Reckoner can also be adapted for use by other freelance and self-employed workers, said Bibby.

The pay comparison table uses a range of publicly available data to calculate the real cost to employers of employing staff.

The add-on costs include such things as employers' NI contribution, employers' liability insurance, the cost of recruitment, typical staff training costs and typical staff sickness costs.

Included is the cost of providing office accommodation, including heating, lighting, cleaning, furniture and equipment.

The Ready Reckoner is based on the assumption that staff have 25 days' paid leave, or work a total of 228 days a year.

For details, see the website:

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25aug 07 224
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