Hey so I recently started a couple of self-paced transcription/captioning jobs that I like a lot. But I can’t figure out whether the time I’m putting in is worth it. If I work them for an hour and only come out with a few bucks, am I wasting my time? Or is there a trade-off for the freedom?
If this is a part time job on the side to make a little extra it is fine but if all you are doing is working at home you would want to make more than $10 per hour. The problem with a lot of online jobs is the low pay. The companies can always find people in other countries that will do the work for less than minimum wage, so there is no reason for them to pay above mimimum wage.
I agree that it depends on what your goals are. Most people I know who work from home have several eggs in their baskets so they can achieve a decent income. If this is one of a few jobs you are working and it all adds up to an amount you’re happy with, keep at it.
I’m trying to structure my freelance work to make at least $25 per hour while actually working. You usually need at least 2-3 times your last outside job wage in order to cover self-employment taxes, insurances, etc.
Tabitha, that has to be a relative average, right? My last outside job had me right around six figures and I couldn’t imagine expecting to make $200,000 to $300,000 a year from my at-home work. I mean, that would be lovely, but I really don’t see it happening.
Bali, I’m sure she didn’t mean that for everyone. Someone going from that high a salary to working from home definitely isn’t going to expect to go that high in income. I do typically tell people to try to make 3 times what they were making before quitting their job, but that’s for those who are trying to transition from outside jobs to working from home without an income drop.