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Have you been paid to manage a company's IG page?

Discussion in 'Instagram' started by splishsplash1, Oct 20, 2015.

  1. splishsplash1

    splishsplash1 Power Member

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    I might start to branch out to companies asking them if they would like me to manage their pages in return for money. I'm just wondering what sort of rates have you/would you charge for your services though? I wouldn't want to ask for too much as it may deter them from working with me plus I'd want to earn as much as possible for them.

    Also, say they paid you a certain amount of money each month, what would be the best way to receive that money? Do you have to pay taxes on this money?
     
  2. Sherbert Hoover

    Sherbert Hoover Jr. Executive VIP Jr. VIP

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    Q: What sort of rates have you/would you charge for your services?

    A: I'd offer to spend 30 minutes daily posting/scheduling new content and responding to questions and messages, as well as general maintenance. I value my time at around $60 per hour or so, so I would request $1,250 per month for this (Close to $1,000 per month after taxes)

    Q: What would be the best way to receive that money?

    A: In the past, my best success has been a simple paper check mailed to an address. Of course, with that comes the prompting of "did you send the check?" and so on. I'd stay away from Paypal personally. Same with Google Wallet and other large online payment processors. Too easy to get money tied up without solid reasoning.

    Q: Do you have to pay taxes on this money?

    A: "When determining whether you need to file a return, you don't include tax-exempt income. In 2014 for example, if you are under age 65 and single, you must file a tax return if you earn $10,150 or more, which is the sum of the 2014 standard deduction for a single taxpayer plus one exemption."

    Also:

    "t is a common misconception that if a taxpayer does not receive a Form 1099-MISC or if the income is under $600 per payer, the income is not taxable. There is no minimum amount that a taxpayer may exclude from gross income.

    All income earned through the taxpayer?s business, as an independent contractor or from informal side jobs is self-employment income, which is fully taxable and must be reported on Form 1040.


    Use Form 1040, Schedule C, Profit or Loss from Business, or Form 1040, Schedule C-EZ, Net Profit from Business (Sole Proprietorship) to report income and expenses. Taxpayers will also need to prepare Form 1040 Schedule SE for self-employment taxes if the net profit exceeds $400 for a year. Do not report this income on Form 1040 Line 21 as Other Income.


    Independent contractors must report all income as taxable, even if it is less than $600. Even if the client does not issue a Form 1099-MISC, the income, whatever the amount, is still reportable by the taxpayer.


    Fees received for babysitting, housecleaning and lawn cutting are all examples of taxable income, even if each client paid less than $600 for the year. Someone who repairs computers in his or her spare time needs to report all monies earned as self-employment income even if no one person paid more than $600 for repairs."

    That is from the IRS website. Cover yourself in case of an audit. Especially if that money is hitting your bank account. Just put away 25-30% of what you make, and pretend like it's not even there.
     
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  3. splishsplash1

    splishsplash1 Power Member

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    wow thanks for all that info, much appreciated! $60 per hour seems a bit steep though isn't it? Do some companies actually pay that amount?

    This one company has asked me to manage them and they said they would pay me £100 ($150) per month, which is nothing like what you would be earning. Do you have any tips on how to ask them to pay me more without sounding too greedy and making them sure it'll be worth it? I've never done this before you see.
     
  4. Sherbert Hoover

    Sherbert Hoover Jr. Executive VIP Jr. VIP

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    Average pay for a social media manager according to:

    Glassdoor: $51,613
    Indeed: $61,000
    PayScale: $45,000

    Let's assume an average of $50,000 per year. That's around $40,000 after taxes, so $20 per hour post-tax on a 40 hour per week, 50 week per year schedule. Take how many hours per month you think you may need to dedicate to this, and do the math.

    If you'll be hitting this for an hour a day, five days per week, that's 20 hours per month. At $150 per month, you're looking at below minimum wage, creeping into survey-filling territory.

    If you put aside $40 a month for taxes, as you'll be over a grand in the course of a year, at that rate, you are literally making about $5 an hour doing that work.

    Figure out how much your time is worth.
     
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  5. splishsplash1

    splishsplash1 Power Member

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    Thanks again. Can I just ask one more question?

    This company is only asking me to run their Instagram page, not Facebook or the others. Would this still make me worth that much to charge for my time, or should I be getting less?
     
  6. Sherbert Hoover

    Sherbert Hoover Jr. Executive VIP Jr. VIP

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    Again, it all depends on how much time you spend on it. An Instagram with 10 posts per day and 100,000 followers will take more time than an Instagram, Twitter, and Facebook with one post per day each and 10,000 followers a piece.

    If you are comfortable with it, feel free to PM me the link to the Instagram profile you will be running, and I'll take a quick glance and see what the activity level is.
     
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  7. splishsplash1

    splishsplash1 Power Member

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    I'm finding it hard to persuade some companies that Instagram can help get their business more sales. One person said they already have a Pinterest which hadn't drawn many sales so they didn't see the point in doing an Instagram. Do you have any ideas one how to persuade them? and that it will make them more sales or their products?
     
  8. onelettershor

    onelettershor Supreme Member

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    damn 1.2k a month impressive! HOw did you get that deal? by messaging companies?
     
  9. jegzz

    jegzz Registered Member

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    Whats your experience in Instagram? I see you probably got this idea from my thread.
     
  10. Sherbert Hoover

    Sherbert Hoover Jr. Executive VIP Jr. VIP

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    I'm not in the corporate social media management game, it was just a suggested number. If there is a business who is unable to see the benefit in social media management up to that level, then they aren't worth the time, as they will become one of those flaky clients who stop paying you and then drop you without warning.