How Much Money Does an Average Freelancer Make? (2024)

When considering a career of any kind one of the highest priority factors that go into making that decision is how much money will I be making. While many people begin their freelance career with some uncertainty of the monetary value of the work, putting in the work can make you some serious money in the long run. Being a freelancer can come with many benefits on top of the salary that you might earn through your work as well.

According to Forbes the average college graduate with a Bachelor’s degree who goes on to work a job in the field that they studied earns a salary of $59,600. Someone with an Associate’s degree goes on to make $44,100 after graduating. While this may seem like it is a good amount of money this does not take into consideration all of the debt that someone can accrue while in college. The average loan of a college student after graduation is around $30,000 which can take decades for people to pay off. This is the path that satisfies a lot of people and that is completely fine, however, I see this as an antiquated manner of handling money and time.

While many people attend college there are those who choose to go onto becoming a freelancer and want to attain financial freedom and be able to set their own schedules. The average freelancer as of 2023 according to Business News Daily is $24 per hour. Ultimately it is up to the freelancer how much they want to make throughout the year, but $24 an hour can average a freelancer up to $60,000 a year. These are the numbers for someone who went through high school and did not go to college or gather any debt by avoiding that path completely. A freelancer who ends up attending college usually ends up earning more than someone without a degree, but that is the difference between freelance work and your average job is that there isn’t a requirement for the degree to begin with. Anyone can be a freelancer and if you are willing to apply yourself you can reach a major level of success at a younger age compared to someone who goes through college and ends up having to pay off loans.

Freelance work has many more benefits besides the salary, it can come with the freedom to create your own schedule. Being your own boss allows you to create a respectful workspace where you don’t have to answer to anyone but yourself. Business News Daily reported that over 83% of freelancers said they were very satisfied with their lives and income due to their ability to create their own potential and pursue their dreams and passions. The amount of money someone makes going down this path only increases as time continues on as well. With age come wisdom and this comes from learning from mistakes over the years. While the monetary payout is enough to draw people towards freelance work, the positive emotional impact and fulfillment that people get from it is enough to draw in millions of people every year down this path and away from the traditional 9-5.