Freelancing as a project manager offers greater control over your career and flexibility compared to full-time employment.
- Researching the industry
- Skills to develop
- Successful practices
The average earnings and factors affecting income for freelance project managers.
- Role of a Contract Project Manager
- Rights and responsibilities compared to employees
If we look at the freelance project manager salary statistics in USA as of May 24, 2023, the represented employee makes $92,111; to be more precise pay rate is $7,676 per month, $1,771 per week, or $45.87 per hour.
On the freelancer site Upwork, the project manager hourly rate charged by consultants varies widely and is between $30 – $155 per hour.
A freelance project manager on the other hand is usually self-employed, managing projects for other businesses. They often manage projects for multiple companies of various sizes as long as their schedule allows them to. The difference between an employed project manager and a freelancer is that a freelance project manager is their own boss and has more flexibility.
There are numerous different types of project managers, depending on the industry. Project managers can range from the marketing industry to the construction industry. One important thing you have to note when planning to take a career as a project manager is how much education you need.
Can a project manager be an independent contractor?
Can a project manager be an independent contractor?
A Contract Project Manager, commonly known as a CPM, is a seasoned management specialist who offers guidance to teams as they carry out their tasks. In the role of a CPM, you function as an independent contractor, acting as your own supervisor rather than representing any specific company or organization.
Project managers can range from the marketing industry to the construction industry. One important thing you have to note when planning to take a career as a project manager is how much education you need. As a freelance project manager, it can be difficult to determine how much to charge for your services. It is important to consider the scope of the project, the complexity of the tasks, and the amount of time you will need to complete the project.
An independent contractor is a self-employed person or entity contracted to perform work for—or provide services to—another entity as a non-employee. As a result, independent contractors must pay their own Social Security and Medicare taxes. In addition, an entity that uses the services of an independent contractor is not required to provide them with employment benefits, such as health insurance and employer-sponsored retirement accounts that the entity may otherwise provide to its employees.
In contrast, a business doesn’t need to consider any of these rights when they are hiring an independent contractor. An independent contractor is paid their full wage, and is responsible for filing and paying their own taxes and insurance contributions. They need to factor in how they will cover vacation or sick days and not be left out of pocket. Independent contractors also have a lot more control over how they work than employees do.
If a project or work has clearly defined success metrics and can be articulated into a deliverable, independent talent can be a good option. Independent contractors are responsible for performing the services outlined in a contractor Scope of Work (SOW). On the other hand, if you simply need more people to perform a job that internal employees are already doing, that gap should be filled by a full-time or temporary employee.
If your company wants to build a technical or digital tool — such as a mobile app, website, or proprietary software — hiring a contractor (or a team of contractors, depending on the project scope) is an ideal short-term solution. Independent contractor agreements specify the terms and conditions of the relationship between you (the client) and the contractor.