There is a controversy going about this topic and people said a lot about this matter and what’s the right method to charge your client in this article we will try to find the most suitable way.
Per hour payment
This is a way of payment in which you work for certain time and get paid for the time you spent. This way is a not barrier and you just need to keep record of your time spent and inform the client about it. This way of charging has its advantages as you get paid for the time you actually doing or spending on the project. This is a way which favours the worker not the client as you get payment for additional hours you put in also. But the clients have their consequences about this method. The problem is that your concentration is required for the work and skills are required to finish it but in this term of payment you can easily slack as it is not your bond you will get paid for the time you consumed. But if things got out of control you need to put extra hours that are supposed to be a punishment for you but you also get paid for that extra time.
Fixed Project Pricing
Fixed pricing is a way in which you can fix the price of the project and get paid on the completion of the job regardless of time required and consumed. The prices in this way are set up a front simply when you complete the work and your client got satisfied you can send him the bill and you get money for that. This type of pricing is a problem for freelancers and some freelancers refuse to do a job for fixed price. The reason behind this is that when a client order something like new logo, website or a new tool you get the gist and settle price with the customer try to fix the time and estimate also so that the client will get an idea that how much he will have to pay eventually. But problem arises when you done the work and in clients opinion it’s not completed. To avoid these kinds of problems as the work cost money, you and your client both know it. So know properly what you need to do before signing a contract. Do the proper paper work as you will need it if the client is not willing to pay.
Tell me your oppinion : Hourly rates vs. Fixed Project Pricing