Payoneer, an innovative cross-border payment platform that empowers global commerce by connecting businesses, professionals, countries and currencies, has conducted a survey entitled The Payoneer Freelancer Income Survey 2018. The result was presented last October 5, 2017.
This global survey conducted by Payoneer has revealed remarkable findings relevant to our times since the world we live in has turned digital. They see the trend of how more and more Filipinos are turning to freelancing for work. This survey provides the opportunity to see the world of Filipino Freelancers, those who have left their old job or simply turn to this job for lack of a better one. They are the new breed of Filipino workers. OFW 2.0 – the Online Filipino Workers.
The survey was sourced from over 21,000 freelancers/respondents from 170 countries that uses the Payoneer platform. Here are several notable results:
That 46% of the respondents were under the age of 30-39 years old while 28% from 25-29 age range. Notable among the age range is that 10% of online Filipino workers comes from 40 to 60 plus years bracket. It only entails that those in the 30s range have found solace in freelancer works while ten percent of the respondent have find work in freelance industry at their retireable status.
In terms of education, 86% of the respondents have Bachelor’s Degree/Certificate Degree while 11 % High School and below, and the rest have Master’s Degree or PhD. The survey shows that freelancers in the Philippines are well educated.
The worldwide average hourly rate charged by Online Filipino Workers is $19—well above the average hourly salary in most of the countries where the freelancers surveyed are based.
In terms of the field of work Filipino freelancers engages, the top field is administrative and customer support, followed by sales and marketing, and writing and translating. But these services offer a lower hourly rate than other skills such as IT and programming,
Filipino freelancers are found to be more satisfied with their level of income, which may be attributed to the fact that the majority of those surveyed work from home.
It also revealed that freelancing provides a good monthly income for Filipinos, with average hourly rates ranging from $9 to $17.
The Payoneer survey was primarily conducted to help freelancers benchmark their rates and discover their market value.
As Payoneer celebrated its first anniversary, Miguel Warren, Regional Head of Payoneer in South East Asia, Pakistan, Bangladesh and Sri Lanka also gave a first year update after the presentation of the survey results.
Payoneer platform now operates in 200 countries, transacting with 150 currencies, integrated with thousands of leading brands, 24/7 customer supports and patronized by 4 million users worldwide
They are now widely recognized as a very innovative company in its field and have been the recipients of various awards such as the Top 5000 Company for four consecutive years among others.
Several of their clients are distributed in various industries and they are associated with Upworks, AirBNB, Facebook and Viber.
In the Philippines, they are primarily focus on emerging service provider, online freelancers and professional and small businesses and in the near future, hopes that freelancing will contribute more to the economy.