Should Freelance Platforms Set The Minimum Wages For Freelancers?

First things first, I totally understand where this one is coming from.

At first glance, this sounds like the most logical and efficient solution to solve the biggest problem in the freelance industry - the cutthroat race to the bottom.

However, there’s a catch, we should be all aware of.

Laissez-Faire Is The Only Thing That's Fair in Freelancing

This is a question I keep asking myself before and after I joined a new freelance platform goLance.

Let’s say that all freelance platform set the minimum wages in terms of minimum hourly rates or minimum project values. What’s going to happen?

I’m afraid that we will shake the very foundation of the entire freelance industry. Freelancing isn’t perfect. However, in all of its unfairness, this industry is surprisingly fair. What you want is that you will eventually get as both a freelance and a client.

Even if we do so, there will still be freelancers who are willing to do work for less. This will make some freelancers and clients work outside freelance platforms.

So, for the sake of all clients and freelancers let’s leave the things as they are right now.

The "State Interventionism" In The Freelance Industry

There will always be freelancers who are happy to work for peanuts, just like they will always be freelancers who want to be paid accordingly for their quality work.

There will always be clients who care only about the lowest prices possible, just like they will always be clients who don’t have problems paying extra for the top quality work.

Let’s not compromise the free market principles in freelancing because they’re extremely important.

Just mind your own freelance business as either freelancer or client and you will be just fine.

The last thing we need is so kind of the “state interventionism” in freelancing. I’m pretty much sure that would end up badly for all parties involved.

The Race To The Bottom Will Eventually Hit The Rock Bottom

The freelance industry is just like any other "economy" or business out there. It goes up and down. The prices and the business trends change a lot, almost on a daily basis.

Even when the pointless and harmful race to the bottom hits the rock bottom in terms of pricing in the freelance industry, we won't have the "freelance economic crisis" and meltdown. That would be a moment for both freelancers and clients to realize that the things have to change for the whole industry to survive and reinvent itself.

Freelancing is a very fearful and fragile creature. It will flee to the very first sign of any additional regulation or restriction in the field. So, let's just let it be.

The low prices and poor quality deliverables will find their suitable clients and freelancers. Just like the high prices and top quality projects will find the freelance industry participants who appreciate them.

Freelancing can take care of yourself, make no mistake about it. So, leave it be.