Raised my hourly rate by 15% last month after being scared for 2 years

I do freelance bookkeeping and had been charging $45 an hour since 2021. Last month I finally bumped it to $52 with a short email explaining my costs went up. I lost one small client out of twelve and the rest didn't even blink. How do you all figure out the right amount to increase without making people jump ship?

3 comments

3 Comments

the_nancy3d ago

Right? It's wild how we talk ourselves out of stuff like this for way too long. Same thing happens everywhere, like when people are afraid to ask for a raise at their day job or even tell a friend they can't lend them money. We build it up in our heads that the other person is gonna freak out, but most of the time they just go "ok" and move on. Good for you for finally doing it, that's a solid bump and losing just one client for a $7 raise is a win.

danielowens3d ago

Wait, you're telling me she actually raised her rate by seven dollars and only one person out of her entire client list pushed back? That seems almost too good to be true. Most folks I know who try a price increase lose at least a handful of people, not just one. Sounds like she was pricing herself way too low to begin with if that's all the fallout she got.

webb.hannah2d ago

danielowens is right that it's usually not that clean, but I've found clients respect you more when you just state your new rate and shut up about it.