Day rate
In 2023, freelancers in the social discipline earned an average of £334 per day, reflecting a -2% decrease year-on-year. Top 10% contracts also experienced a decrease of -2%, earning £680 per day.
Experience
Director and Lead roles in the social discipline both witnessed a -4% year-on-year decrease in their average day rates. However, Senior and Midweight roles experienced a positive increase, and notably, Midweight roles saw a significant +14% increase year-on-year.
Don't assess your financial success solely based on your bank balance, as upcoming bills may impact the available funds. I've fine-tuned my financial spreadsheet to track expected payments and invoices, allowing for a proactive cash flow forecast. Many freelancers overlook the importance of cash flow forecasting, which is crucial for managing payments effectively.
Don't assess your financial success solely based on your bank balance, as upcoming bills may impact the available funds. I've fine-tuned my financial spreadsheet to track expected payments and invoices, allowing for a proactive cash flow forecast. Many freelancers overlook the importance of cash flow forecasting, which is crucial for managing payments effectively.
Contract Length and Bookings
The Social discipline experienced a decrease of -8% on contract lengths, with contracts lasting 35 working days on average (7 weeks). However, top 10% contracts showed a positive trend with a +15% increase year-on-year, securing contracts averaging 90 working days (18 weeks).
Director level roles saw a significant +14% increase, while other experience levels witnessed decreases, with Senior roles experiencing the most substantial decline at -15%.
Despite these fluctuations, bookings in the Social discipline displayed an increase of +27% year-on-year. Social saw their highest booking month in March in 2023 and further peaks every three months.
Roles
Within the Social discipline, Social Media Managers emerged as the top earners, at £375 per day. On the other hand, Paid Social Specialists secured the longest contracts, discipline’s average by +71% (59 v 35 working days on average).
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