Hourly Versus Fixed-Price Jobs
There are only two types of jobs in oDesk, one is the Hourly and the other is the Fixed-price jobs. Pretty straightforward, the hourly jobs will pay you for every hour that you worked on the project according to your approved bid rate, and the Fixed-price will pay you the approved bid rate regardless of how many hours you worked.
oDesk guarantees payment for Hourly jobs only. So it would always be good to get the hourly jobs first. There are other requirements that goes along with that guarantee which we must take note of. As stated in the oDesk rules, their payment guarantee requires the following:
- an Hourly assignment
- a buyer with a Verified Payment Method
- to log time your time online with the oDesk Team application
- adequate activity (generally at least 5 out of 10 on the activity meter)
- to be visibly working on an assignment-related activity
- adequate memos describing your work
- to stay within the assignment’s weekly limit (time over the weekly limit does not qualify)
- an account in good standing with regards to oDesk policies and guidelines
You can see the “oDesk Verified Payment Method” stamped on top of a Buyer’s summary when you search for jobs. Another status that may be displayed here is “Payment Verification Not Verified”, which means that the Buyer has not yet setup a payment method in his account. The other is “Payment Method Verification in Progress”, which means that the Buyer has setup a payment method in his account but oDesk is still in the process of confirming the account. To minimize your risk, apply only to Buyers with oDesk Verified Payment seal. I only apply to Buyers with ongoing verification when I am confident that the Buyer is serious about the project.
Before applying to a Fixed-price job, carefully review a Buyer’s profile and check if he has a good history on fixed-price jobs. If you are confident that the Buyer is a legitimate buyer, that’s the only time I will recommend applying to one. Fixed-priced jobs can be a good way of getting that elusive first project, but you must also exercise caution.
As you build up your work hours, the luxury of choosing jobs and even declining job offers will be yours. Your hours and feedbacks on oDesk will attract potential Buyers and it is not unlikely that you will receive interviews initiated by the buyers themselves. Potentially, you have a great opportunity to build your professional career online simply by using oDesk.
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