There are a lot of different types of work available on UpWork, and one of them is called a “weekly retainer.” But what does that mean, exactly?
A weekly retainer is a type of work where the freelancer is hired for a set number of hours per week, usually between 10 and 40. The freelancer is then paid a fixed amount each week for their work. This type of arrangement is great for both parties because it provides the freelancer with a stable income, and the client with a reliable worker.
There are some advantages to being on a weekly retainer. First, you know exactly how much you’ll be paid each week, so you can budget accordingly.
Second, you’re guaranteed a certain number of hours of work each week, so you can count on that income. And third, since you’re working for the same client each week, you build up a rapport and a relationship with them, which can lead to more work down the road.
PRO TIP: If you are considering hiring someone on Upwork, be sure to ask them about their weekly retainer rate. This is the rate that they will charge you for their work each week. Make sure you understand what this rate includes before you agree to it. Otherwise, you may end up paying more than you expected.
The downside to weekly retainers is that they can be inflexible. If your client suddenly needs more hours one week, you may not be able to accommodate them.
And if you’re looking to take on other clients, you may have to sacrifice some of your retainer hours in order to do so. But overall, weekly retainers are a great way to earn consistent income as a freelancer.
So there you have it! A weekly retainer is a type of work where the freelancer is hired for a set number of hours per week and paid a fixed amount each week.
It’s great for both parties because it provides the freelancer with stability and the client with reliability. But it can also be inflexible at times.
10 Related Question Answers Found
A retainer is a type of payment arrangement where a client pays a freelancer or agency in advance for a set number of hours or deliverables to be provided over a set period of time. Retainers are often used for on-going or long-term projects, as they provide a freelancer or agency with stability and predictability in their workflow. In the context of UpWork, a weekly retainer is an arrangement where a client pays a freelancer or agency in advance for a set number of hours to be provided over the course of one week.
When a client renews a contract on UpWork, it means they want to continue working with the same freelancer on the same project. The client may have found that the freelancer is meeting their expectations in terms of quality and timeliness, so they decide to extend the contract. This is generally a good sign for the freelancer, as it means they are doing a good job and the client is happy with their work.
UpWork does not pay weekly.
As an independent contractor, you’re responsible for paying your own taxes. That includes federal income tax, state income tax, and self-employment tax. When you work with a client through UpWork, they may choose to withhold taxes from your earnings.
As a freelancer, you have the option to get paid weekly or every two weeks on UpWork. The default is every two weeks, but you can change it in your settings. To get paid weekly, go to Settings > Job Success > scroll down to Payment Terms and click the “Get Paid Every Week” button.
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