Employment
When a company employs you to work, you get paid according to the hours you work and the complexity/position of your role. You are monthly paid unless contracted by bank transfer and given a payslip as a record. The UK Minimum Wage for over 16s’ is £6.56 an hour.
Freelance
When you work freelance, you’re responsible for setting and negotiating your pay rates. You’ll bill the client by creating and sending them an invoice. You submit a self-assessment tax form to calculate your income tax and national insurance contributions.
Rates of Pay
There are several ways you will discuss payment within the Industry:
- Yearly Salary (Normal for Employment) – the amount of money earned in a year.
– Day Rate – work charged per day.
– Hourly Rate – work charged by the hour.
– Fixed Fee – the total amount paid for a job.