Upwork has become the go-to place for freelancers and businesses to connect online. With over 793,000 companies hiring freelancers through the platform in 2021, Upwork earned $3.5 billion in earnings. The remote work boom has certainly helped Upwork’s growth. More people than ever are realizing they can find meaningful, well-paying freelance jobs that allow them to work flexibly from home.
For businesses, hiring freelancers through Upwork gives them access to highly-skilled talent from all over the world without the need to hire full-time. As remote work continues to go mainstream in 2023 and beyond, Upwork will likely keep dominating as the number one freelance marketplace. The stats hint at more growth in revenue and earnings in years to come.
It’s an exciting time for the company and for the millions of freelancers who build their careers on Upwork. The platform allows people to profit from their skills on their own terms. And companies get the specialized talent they need on demand. It’s a win-win. The article will provide significant statistics regarding freelancers, clients, and much more. Let’s get started.
Key Upwork Statistics
1. As of August 2023, Upwork has more than 827,000 active clients.
2. There are over 125 categories in the Upwork marketplace.
3. Currently, Upwork has about 850 employees.
4. In Q1 2023, the Upwork marketplace generated $160.9 million.
5. In 2022, Freelancers on Upwork earned $3.8 billion.
6. India, the United States, and the Philippines have GSV contributions of 14%, 25%, and 11%, respectively, making them the top talent geographies for Upwork.
7. Upwork’s revenue soars from $202.3M in 2017 to $503M in 2021.
8. Over 40 million monthly website visits.
9. Upwork has an average annual salary of $62,492 in the US.
Upwork Finance and Revenue Statistics
The platform is the biggest place for freelancers globally. It gives us important information about gig work. Now, let’s talk about key statistics about earnings, expansion, profits, and total services on Upwork.
10. As of 2023, Upwork has revenue of $698 million.
11. Upwork revenue in Q1 of 2023 was at $159 million.
12. Upwork’s income is growing at an average rate of 20.38% in 2023.
13. Experts expect this growth to be around 17.6% by 2026.
14. Upwork revenue grew from $202.3 million to $503 million between 2017 and 2021. This represents an increase of 248%.
15. Upwork predicts its revenue to reach $625 million before the end of 2023.
16. Upwork lost about $56.24 million in 2021, making it the most unprofitable year.
Year
Net Income (or Loss)
2017
($10.6) million
2018
($19.9) million
2019
($16.7) million
2020
($22.9) million
2021
($56.24) million
17. Most of Upwork’s income comes from fees paid by freelancers.
18. In 2021, Managed Services accounted for about 7.96% of the company’s total revenue.
19. This is when Upwork hires freelancers to do jobs directly and takes a percentage of the contract value.
20. In the first quarter of 2022, Upwork made $10.8 million from Enterprise Clients.
21. Upwork has increased its revenue from Enterprise Clients by $6.7 million over the past two years.
Date
Enterprise Client Revenue
Q1-2020
$4.1 million
Q2-2020
$4.3 million
Q3-2020
$5.2 million
Q4-2020
$6.4 million
Q1-2021
$7 million
Q2-2021
$8.5 million
Q3-2021
$8.9 million
Q4-2021
$10.5 million
Q1-2022
$10.8 million
22. In 2021, the Upwork marketplace take-rate was 13.2%, slightly lower than in 2020, which was 13.6%. Upwork divides marketplace revenue by gross service value to get the take rate.
Upwork Client Statistics
Clients are companies or individuals that regularly post jobs on Upwork. Since 2019, new clients have been flooding into Upwork.
23. Upwork had 793,000 active clients by March 31, 2022. An active client refers to someone who has used the platform in the last year.
24. From Q1 2019 to Q1 2022, Upwork gained an additional 281,000 active clients.
25. The usual Upwork client runs a business with 10 to 100 employees and annual revenue ranging from 1 to 10 million dollars.
26. They are primarily in the USA and operate in the service or information technology fields.
27. About 40% of clients hire in various categories like Accounting & Finance, Translation, and Marketing.
28. The platform is serving over 300 Enterprise Clients, with 125 new ones joining in the last year.
Upwork Gross Services Volume
Upwork GSV provides a clearer view of the total value of freelance work completed on the platform. The volume growth indicates more opportunities for freelancers.
29. From 2017 to 2021, Upwork’s yearly total earnings went up by an incredible 150%.
30. In 2021 alone, they reached $3.5 billion, marking a $1 billion increase from the previous year.
31. In 2021, US-based clients generated 66% of the total GSV.
32. Between 2017 and 2021, the share of GSV from clients in the United stayed relatively consistent, fluctuating only slightly between 66-68%.
Year
Annual Total GSV
US Client’s Contribution
2017
$1.4 Billion
67%
2018
$1.8 Billion
66%
2019
$2.1 Billion
68%
2020
$2.5 Billion
67%
2021
$3.5 Billion
66%
33. The United States is the only country with such GSV volume. Other countries contribute less than 10% of the yearly GSV.
Upwork Job Statistics
34. In 2023, Upwork has about 850 employees.
35. Most Upwork staff are in the sales and marketing department.
36. In 2022, more than 30% of Fortune 100 companies used Upwork to hire freelancers.
37. Upwork has over 10,000 skills on its platform.
38. In 2022, Upwork involved 1,950 freelancers in their projects.
39. Upwork freelancers earned a whopping $3.8 billion in 2022.
40. Content writers earn between $15 to $40 / hour on Upwork.
41. Web developers earn $15 to $40 for each word done on Upwork.
42. Graphic designers earn an average rate of $25 on Upwork.
Upwork Freelancer Statistics
Freelancers are the pillars holding Upwork. They are the primary reason clients use the platform and post job opportunities. Here are notable freelancer statistics to help you decide whether Upwork is the right platform:
43. In 2019, there were about 2,164,174 freelancers that used the Upwork platform. Unfortunately, Upwork no longer discloses the total number of freelancers.
44. Between February and March 2020, Upwork reduced the number of registered users by 1.8 million.
45. Upwork supports clients and freelancers from over 180 countries. This means that people can join Upwork from anywhere and use its services to find work or hire freelancers.
46. Of every 800 freelancers on Upwork, only one earns more than $1,000 monthly. These statistics underscore the competitive nature of freelancing on the platform, as most freelancers fall below this income threshold.
47. Top-rated freelancers are the cream of the crop, comprising the top 10% of talent on Upwork.
48. 30. Among them, the most coveted badge is Top Rated Plus, which leads to a minimum 10% reduction in Upwork fees.
Volume of Services Rendered (GSV) Per Engaged Client
GSV is the total amount clients spend on fees, subscriptions, and talent service fees. Therefore, the GSV can give you comprehensive details about the company.
49. In Q1 of 2022, the GSV grew by 27% to over $1 billion. According to statistics, this is the first time Upwork has hit such a feat.
50. According to statistics, in Q4 of 2022, the GSV recorded an increase that exceeded $1 billion. This represents a growth of 5%. Also, its revenue grew by 18% to hit $161.4 million in the same period.
51. In Q1 of 2023, Gross Service Volume (GSV) surpassed $1 billion for the fifth consecutive quarter. Additionally, its revenue for Q1 grew by 14% compared to last year, reaching $160.9 million.
52. GSV recorded a growth of 50% in Q2 of 2021, reaching a mark of $875.8 million.
Date
GSV Per Active Client
Q1 – 2019
$3,592
Q2-2019
$3,677
Q3-2019
$3,757
Q4-2019
$3,864
Q1-2020
$3,932
Q2-2020
$3,897
Q3-2020
$3,896
Q4-2020
$4,599
Q1-2022
$4,742
Q4-2022
$5,045
Q1-2023
$4,967
Q2-2023
$4,987
Upwork Client Fees
Clients pay fees when using the Upwork platform to hire freelancers or other services.
53. These fees include a 5% marketplace fee on all freelancer payments for fixed-price and hourly jobs.
54. Clients pay a one-time contract initiation fee of up to $4.95 for each new Marketplace and Project Catalog contract. Upwork charges this fee when the client makes the first payment to a freelancer.
55. Upwork charges freelancers 10% fees on any work done through the platform. The cost is adjustable but depends on your work time.
Earnings
Upwork Fee
$0-$500
20%
$500.01-$10,000
10%
$10,000.01 or more
5%
56. Top-rated freelancers are among Upwork’s top 10% of skilled professionals.
57. The Top Rated Plus status is highly desirable because it reduces at least 10% in Upwork fees. Meanwhile, Upwork tagged freelancers with badges to help clients hire the right person.
Note: Each badge has different requirements and separate benefits for the freelancers. Importantly, Upwork has four standard badges: Top Rated, Top Rated Plus, Expert Vetted, and Rising Talent. Remember that freelancers receive these badges based on several factors, including freelancer earnings, job completion, performance, etc.
Upwork Categories and Skills
Upwork helps clients to find the right candidate for a job, providing a wide range of skills and categories. Below are some vital Upwork categories and skills statistics:
58. Upwork has 90 different categories, each needing specific skills.
59. Media buyers who manage ads charge the most, around $50 to $200 an hour.
60. Business consultants who assist with business problems charge between $28 and $98 hourly.
61. Programmers at Upwork, on average, charge $15 to $150 an hour.
62. Objective-C, on average, was the highest-paid programming language on Upwork as of 2020. The average hourly rate for freelancers was $66.
Job/Skill
Pay/Hour
Copywriter
$19 – $45
Web designer
$15 – $30+
Digital marketing consultant
$15 – $45
Social media manager
$14 – $35
Editor
$20 – $40
Web developer
$10 – $30+
Media buyer
$50 – $200
Photographer
$40 – $100
Data analyst
$20 – $50
Business Consultant
$28 – $98
Programmer
$15 – $30
Videographer
$15 – $30
Accountant
$12 – $32
Virtual Assistant
$12 – $20
Public relations manager
$50 – $100
63. Most freelancers, around 73%, hold college degrees.
64. On Upwork, you can choose from over 10,000 skills to add to your profile to help clients find freelancers with specific skills. Examples of skills include pay-per-click marketing, eCommerce, C++, and payroll accounting.
Upwork Website and App Statistics
Upwork generates massive website traffic and thousands of app downloads monthly. Here are some of Upwork’s website and app statistics.
65. Around 40.8 million people visit Upwork’s website each month.
66. Worldwide, it’s ranked as the 918th most popular website.
67. In the United States, it ranked 987th.
68. Upwork has a low bounce rate of 25.52%, and users typically view about 8.63 pages. This shows that people find the website quite engaging.
69. Upwork for freelancers gained 200,000 downloads on Google Play and 90,000 on the App Store in 2022.
70. In April 2022, Upwork recorded 20,000 monthly downloads on Google Play and the App Store.
71. Upwork holds the 29th position in Other Computers Electronics and Technology categories.
72. Male freelancers account for 61.42% of the platform, while female freelancers account for 38.58%.
73. Most Upwork’s website visitors fall within the 25-34 age group (37.63%), followed by those aged 18-24 (23.88%).
Miscellaneous Statistics
74. The typical salary for an Upwork employee is $192,785 per year, which averages to about $92 per hour.
75. As an employer, Upwork has a rating of 4.2 out of 5 stars.
76. 81% of Upwork employees describe their work environment as positive.
77. Upwork was formed in 2013 by combining two freelance platforms, Elance and oDesk. It was initially called Elance-oDesk until 2015 when it became Upwork after Elance shut down.
78. Upwork has filed four patents as of June 2022.
79. There are approximately 225 million freelancers globally, with 59 million in the United States.
80. In 2021, freelancers contributed $1.3 trillion to the United States economy.
81. 9 out of 10 freelancers are optimistic that freelancing will have even better days ahead.
Conclusion
The statistics surrounding Upwork paint a vivid picture of a thriving platform at the heart of the global gig economy. Boasting millions of users, Upwork has become a cornerstone for freelancers and clients alike. Its substantial user base, with impressive revenue figures, attests to its significant presence in the professional services marketplace.
The platform’s diverse skills and services cater to various industries, emphasizing its versatility and adaptability. Moreover, Upwork’s positive user ratings and high levels of user engagement underscore the platform’s effectiveness and popularity. These statistics attest to Upwork’s impact and influence in the evolving work landscape.
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