Fixed-price vs hourly projects
When posting a project, clients can choose between posting a fixed-price or an hourly one. Posting projects in the correct project type that better fits the work requirements can be advantageous.
If you are a client looking to post a project, you can get some tips here.
- This is ideal for one-time projects or those with set/limited budgets.
- The bid amount of the winning freelancer is the total amount to pay them for completing the project.
- The project can be paid through Milestone Payments (recommended), or by directly transferring funds to the freelancer.
- This is ideal for continuous work (no specific deadline), or full-time positions.
- The bids of the freelancers are their hourly rate for your required work. The amount to pay your winning freelancer is the price of the total hours of rendered work.
- Milestone Payments automatically generated every Monday from hours tracked in the Freelancer Desktop App will be paid every Wednesday. You may read here for more details.
When awarding an hourly project, you will have a one-time chance to convert it to fixed-price. Click “I prefer to pay a Fixed Price” on the award modal if you decide to go with fixed-price. Note that time tracking and automatic billing will be disabled if you choose this; the project will work just like how a fixed-price project works. The project fee structure will follow that of a fixed-price project.