Hello everyone. Welcome back to my channel, Jennifer Mariem where I teach you different
ways that you can make money online as a work-⁠from-⁠home freelancer. So if you follow my channel, you
know, I do a lot of different videos about how to become a freelancer on the platform
up work. And today I want to talk to you about a really exciting update for new Freelancers.
So this new update that will take place in May means that you will make more money and
up work will take less fees for people who have been working on Upwork for a long time
with the same contracts in the same clients. This might affect them in a negative way, and
I'm going to explain to you a little bit about that. So first of all, this is my profile.
Here, you can see that I've earned over $90,000 on Upwork so far, since I started my account,
I do video editing, jobs, voice-⁠overs, and that sort of thing. And recently it when
I logged into Upwork, I saw it right here, it says, starting on. May 3rd. 2023 removing
all free Lancers from the current 20105 sliding fee scale. Twist Ambler, fixed percentage
fee of 10%. So what that means is right now, for example, if I did a job for $100, that
would mean, I would take home $80 and up work would take home $20. So this is kind of a
negative because Upwork 's taking 20% of your fees. And right now, if you earn between
0 and $500 from a client, you are charged to 20%. So lot of times on Upwork I do want
off jobs for many different clients and that means every time I do a job for them up, work
takes 20%. Now, let's say I'm doing work for the same client and eventually I earn
over $500. You can see here, that between 500 and $10,000 in earnings from a client,
the fee gets reduced to 10%. So, that would mean, if I did a job for $100 up work would
only take $10, so right now with Upwork introducing this new 10% fixed rate. This is going to
be excellent news for all new Freelancers because that means you're going to take home
more money and up work will charge less fees. This is only going to negatively impact people
who have been working with the same client for a really long time. Because right now,
if you have earned over $10,000 with the same client, the fee goes to 5%. So that would
mean for $100 job up. Work would only take $5 in commission. So for example, this will
negatively impact me with a few of my different client. This is my biggest client, and you
can see that with them. I've earned over $27,000. So right now when I do a job for them up or
only takes 5%, however, with this new update up work, is now going to charge a fixed rate
of 10%, so I'll be making less money with these types of contracts. So you can see here, That
contracts that currently have a 20% freelancer service fee will move to 10% on your next
invoice and this is after May 3rd 2023 contracts. That already qualify for a 5% freelancer fee
will continue at 5% through the end of 2023. So that would mean with my big clients that
I have already earned over $10,000. I'll be making less money starting in 2024. Now, this
is something you might want to negotiate with your big clients and say, hey, this is what's
going on. I want to charge you a little bit more money that's up to you. So they give
you an example here, which is on a $500 project with a new client, your freelancer service
fee would be at $50, your earnings after fees would be $450. So this is really great news.
I mean, the majority of projects I do are one-⁠off projects and most of them, I'm
not Earning over $10,000. So really, this isn't going to affect me too much, and for
all of you guys, if you're brand-⁠new to Upwork, this is excellent news. I recommend
you create a profile on Upwork and start applying to different jobs, especially Khmer because
the service fees will be less. And if you want a bit more information about how service
fees Works, once you complete a job, you can go to reports and click on over and you can
see here that I have pending $177.40. So I did a job for $200 and you can see I had a
service fee of $20, so that is the 10% rate. So, every time you do a job, if you want to
just double-⁠check the payment information, just go to reports and overview and under
pending, you'll see the job you did. And then you'll see any other payments are fees that
came off because I'm Canadian, I had to pay a GST fee as well of $2.60 but this I think
it's only for Canadians that I'm aware of.If you don't have an account on Upwork and you
want to know how to get started, make sure to click on the links of the description below
this video. I have a playlist on everything you need to know about Upwork, but basically,
all you have to do is go to up work, click on find work. This is once you've created
your profile search, for whatever job you want and I have tutorials on how to search
for the best type of job to increase your chance of getting hired. Unless they, for
example, you found this job that you want to apply to, you can see their price would
be $150 that they're willing to pay. You click on a play. Now, then you scroll down, you
put how much you are willing to do the job for. So you can either put this as higher
or lower. And then, you can see the Upwork service fee right here. And you can see that
right now the service fee would be 20%, but, this will be even less, it will only be 10% I
think this is an amazing update. Honestly, it's really going to be beneficial for most
new Freelancers, and it's only going to negatively affect people who've been working with clients
for a really long time to make that $10,000. Okay guys, that's it for this tutorial. Make sure
to subscribe to Jennifer Marie for more videos like this one and I'll see you and my next
tutorial.