One of the most common questions small businesses ask when deciding whether or not to hire a social media manager is how much it will cost them.
The pay for a social media manager can vary greatly depending on several factors, including location, experience, industry, and the specific responsibilities of the role.
As of February 2024, ZipRecruiter states the U.S. average salary for an in-house social media manager is $64,845 per year or $31 an hour.
For freelance or contract social media managers, hourly rates can range greatly depending on the level of expertise and the scope of services provided. Your business should consider what level of expertise in the field you desire and can afford.
Social Media Agency, MixBloom states that in 2024 “$15-$50 per hour would be appropriate for someone with 1-5 years of experience. $50-$100 per hour is often charged by intermediate social media managers and creators, whereas advanced creators can go all the way up to $350.”
Additionally, with freelancers, it’s important to consider fees you are saving such as benefits like health insurance and retirement contributions, equipment costs, bonuses, or incentives that an in-house social media manager would typically require, and consider that accordingly in an hourly rate.
(Read our previous blog on In-house vs freelance social media manager pros and cons)
The adage “you get what you pay for” rings especially true in the realm of social media management. While online gig platforms like UpWork and Fiverr may advertise social media management services for as low as $1-5 per hour, the allure of these bargain prices often comes with significant drawbacks. These offerings frequently stem from inexperienced individuals or professionals located in vastly different geographic regions. Consequently, such potential social media managers may provide limited personalized service tailored to your brand’s specific needs and objectives and not regularly be available for needed assistance.
Leading Social Media Platform, Sprout Social, states “you should plan to invest at least $5,000 per month” on social media for your business. The great thing about social media is the more you invest, the larger returns you will see – that is to say, as long as you have hired someone with true professional experience.
When considering how much your business can afford, you should consider elements like how many various platforms you want to have a social media presence on, what type of content you want to use and if you want the social media manager to create the content themselves or you will provide it. Keep in mind, ready-to-go assets will require the least amount of time for your SMM, with general photography following second, and video production or graphic design taking the most time. One social media post on one platform can take only ten minutes or as much as 3 hours – depending on the magnitude of the content.
For aspects like community management you may also want to consider how quickly you want your business to respond to inquiries. The faster response time you desire, the more hours you will need to pay your SMM to be “on-the-clock” monitoring, which means regardless of in-house or freelance, you may find yourself needing to pay for full-time hours.
Ultimately, fair pay for a social media manager should reflect the skills, experience, dedicated time and value the social media manager brings to the business in terms of driving engagement, increasing brand awareness, and achieving business objectives through effective social media management.