Freelancers are paid by clients through the Work for Impact platform on a weekly basis if they're on an hour contract or once they have successfully completed a milestone if they are on a fixed-price contract. Check here the differences between hourly jobs and fixed-price projects.
How Much are Freelancers Paid on Work for Impact?
There is no set rate for freelancers on Work for Impact. A freelancer's rate is at the discretion of both the freelancer and the client and can be set at whatever amount both parties deem to be fair.
How is a Freelancer's Rate Determined?
When a freelancer submits a proposal for a job, they'll have an opportunity to include their rate. A client may accept this rate, or they may decide to negotiate a different rate. If a freelancer's initial rate isn't accepted, it is up to them to determine whether they are willing to work for a lower rate or if they would like to pass on the opportunity. A rate must be agreed upon by both the freelancer and the client before a contract can begin.
Are Freelancers Paid Per Hour or Per Project?
Freelancers can be paid an hourly rate or paid a flat fee for completing a task or project. Like a freelancer's rate, a payment structure will need to be agreed upon by both parties before a contract commences.
Freelancers who are paid an hourly rate may use the time tracking app to record and log their hours for each client. The app will total up the hours and cost as the freelancer works, so both parties know what is owed to the freelancer. Freelancers may also submit time logs manually without using the app if their contract terms allow it. However, manually entered time entries are not covered under our payment protection services.
Freelancers who are being paid a flat fee will be assigned milestones that must be completed and approved by the client before receiving payment. Projects may include milestones for smaller tasks within a project or one large milestone for the entire project. It is up to the client and the freelancer to decide how milestones should be allocated.
How Do Freelancers Receive Payment?
Once the work by the freelancer is approved, the client will pay the freelancer through the Work for Impact platform. A 10% project fee is deducted from all freelancer payments (this reduces to 5% once a freelancer has earned $10,000 with a client).
When a freelancer receives their payment, they will be able to deposit their money into their preferred bank account. Click here to know more details about the payment cycle.
Payment protection services are available to freelancers who are unable to receive payment from clients for work that meets our criteria. To take advantage of our payment protection services, freelancers must use our time tracking app.