Indian women freelancers have reported higher levels of satisfaction, owing to an increased work-life balance and flexibility in work schedules, says Payoneer in its “Freelancer Income Report”. The segment has also observed a substantial increase of 42% in their average hourly earning rate from$22/hour in 2022 against $14/hour in 2020.
The report highlighted that the women freelancers’ average hourly earnings rate is at par with their global counterparts. Payoneer accomplished the report by conducting a survey of 2,300 freelancers from over 100 countries. As such, it gives insight into how they have fared since the start of the COVID-19 pandemic.
It noted that though the pandemic created unprecedented levels of disruptions in the job market, it on the other hand gave a great push to the freelancers in India. Freelancers in India witnessed rising demand and opportunity from international assignments. The average hourly rates of the Indian freelancing community saw a jump from $21 in 2020 to $26 in 2022.
Rohit Kulkarni, the senior vice president at Payoneer India, highlighted that Indian freelancing is making a value-driven shift in the global gig economy. He noted that in the past few years there has been an increase in freelancer income and their movement to more specialized fields like marketing, coding, and finance. “More flexibility, better-skilled opportunities, and increased earnings are some leading to more professionals entering this economy. The findings of our Freelancer Income Report 2022 cements our belief that Indian freelancing will continue making rapid strides in the global gig market in days to come. We at Payoneer, are on the mission to empower freelancers from all walks of life with the resources and tools to expand their business opportunities across international markets.”
The report pointed out that the gender wage gap in India has slightly improved since 2020. It said that in 2022, Indian women are earning 81% of what their male counterparts do with their average hourly rates at $22/hour compared to men’s hourly rate of $27/hour. The gender pay gap stood at 77% before COVID. Interestingly, Indian women freelancers recorded a much better gender pay ratio against their counterparts in developed markets like North America which stood at 71%.
Furthermore, Indian freelancers outshined their global counterparts and were able to demand a better average hourly rate for some of the popular professions like Finance, demanding an hourly rate of $71 against a global average of $41 and Marketing at $47 vs. a global average rate of $34.
The premium being charged by Indian freelancers shows increasing global acceptability of Indian work quality.