Hey Freelancers, Ever Thought About Your Lowest Payment Threshold?
A while back, while eating out with a couple of my tour crewmates, we found ourselves discussing wages. We didn’t reveal our exact income but talked more about how less we’d be willing to go when taking on work, you know, that not-to-cross line when it comes to income.
They were surprised when I said I wouldn’t go less than my current rate. In my opinion, with 12 years of experience under my belt, anything under $100 a day seems absurd to me. The fact that my housing is covered during the tour justifies this price tag.
However, getting close to this tour’s end, I’ve reconsidered this approach, realizing that in a freelance scenario, the “I won’t work for less than X” mindset may not be as effective as it was when I was working for big names.
With that said, I’m still holding on to my $100 floor rate for long-term commitments, but I’ve also noticed that there are some factors that could make me accept a bit of a cut, sometimes even a hefty one!
I’m pretty sure I’ll join another tour with the current company, assuming a similar, if not better, wage. Yet, it leaves me with a couple of idle months before the tour kicks off. Although I could endure those months without work, why not opt for summer projects that, while they pay less, can keep me occupied?
While applying to these roles, I discovered there were three perks that could bring me to as low as $50 a day. They would have to include room and board, be located in a place I find intriguing, and offer an Equity contract.
Interestingly, I’ve discovered some positions that fit this criteria and run from mid-June to late-August. This timeline is almost perfect, giving me a break to catch up with friends and family before and after the tours.
One golden opportunity that grabbed my attention was the chance to obtain an Equity contract without joining Equity for two years. As soon as one interviewer mentioned this, I started hunting for such jobs for the summer.
Although I hope my cruise ship plans work out – it would be a better deal for my bank balance – I’m also crossing my fingers for a lower paying Assistant Stage Manager role in Colorado. This would let me spend my days off rafting and fulfill all the requirements to join Equity, without actually joining it yet.
I suppose, then, I’ve come to realize that I don’t exactly have an unwavering minimum payment threshold. The question I want to ask you guys now is, how do you decide when it’s an acceptable time to cut yourself a little slack when it comes to earnings?