How much money can you make working remotely? — The Remote Nomad®

Instagrammers promote the digital nomad way of life to those that dream of escaping the 9-5 to work remotely whereas touring the world. Though the digital nomad way of life seems to be glamorous, many individuals surprise what digital nomad salaries are and the way a lot cash distant jobs pay.

Questioning how a lot cash you may earn as a distant employee is a good query.

I’m going to do my finest to reply this query as a result of I at all times hated the response “it relies upon”. The truth is that how a lot cash you make as a digital nomad does “rely” on many elements. Nonetheless, I’m going to stipulate what elements you may think about that will help you gauge how a lot you may count on to earn as a digital nomad.

Digital Nomads Have Actual Jobs

The very first thing to know is that digital nomads aren’t backpackers taking over random jobs to outlive. Digital Nomads have actual, reliable jobs. How digital nomads become profitable on-line are sometimes by working remotely for a distributed group, freelancing or they’re entrepreneurs. 

That being stated, any digital nomad who has a distant job can count on to earn the identical as they might in the event that they have been within the 9-5. For instance, when you’re a social media supervisor at a brick and mortar company and earn $55,000/ yr, there’s no purpose you would count on to earn any much less working remotely. Working remotely shouldn’t be a privilege, it’s a wiser technique to work and distant groups perceive this. It saves them cash by not having to pay for overhead prices like workplace house and it permits their groups to be extra productive as a result of they will work when and the place they’re most efficient.

As a distant employee, it turns into extra in regards to the worth you add, quite than workplace politics.

Digital Nomad Wage Stats

Let’s have a look at the laborious stats on how a lot cash digital nomads and distant employees make. In line with a report carried out collaboratively with FlexJobs and International Office Analytics, the average annual income for most remote workers is $4,000 increased than that of non-telecommuters.

One other FlexJobs report signifies, “18% [of remote workers] report making six figures or extra and 22% make between $50,000 and $99,999.“

For sure, there may be cash to be made as a digital nomad. The one time I see folks getting paid lower than what they need to is once they’re trying within the improper locations for a distant job or they don’t understand their price and are undervaluing themselves.

On-line Wage Report Generator

Since digital nomads make comparable salaries to these within the 9-5, we are able to additionally discover some on-line instruments that present wage benchmarks for various profession paths. The wonderful thing about these on-line instruments is that they think about extra elements than simply the function itself, self as years of expertise.

PayScale

PayScale is a well-liked on-line instrument that generates a wage report of how a lot you may count on to earn based mostly on a sequence of questions. The questions requested embody the function you’re contemplating, what number of years expertise you’ve got, your highest stage of training accomplished, any further certifications and many others. 

You do have to enter a location for this, so I’d counsel you simply enter your present location. That being stated, to translate location right into a distant work equal, I’d counsel selecting a state that has “mid-range” salaries. For instance, salaries in New York and California are inclined to skew increased due to the excessive price of dwelling so when you enter that as your location, you would possibly get inflated wage outcomes (until you’re employed remotely for a distant firm based mostly in New York or California).

When you full the questionnaire PayScale will generate a personalized report for you that outlines:

• Market wage vary 

• Bonuses

• Your market price over time

• Pay by expertise stage and gender 

• Suggestions of comparable roles and the way in-demand every function is 

Here’s a pattern report I did for a copywriter, 26 years previous, graduated with a Bachelor of Arts diploma. Right here you may see the median wage for a copywriter is $46,000/yr, together with the market vary.