Raising a Rate on a Client's Hourly Contract

[aidangignac]

I started an Upwork contract with a long-term client and I think it's time for a rate increase. I have worked with this client for over a year and the client has promised future work that keeps going stalled, to give context, back in the Fall of 2023, they said after the start of the new year (2024) they would have a project for me to work on but those efforts have been stalled yet again and we are moving into spring of 2024. The rate increase I think is warranted for one, my rate with this client is $40 per hour and the new rate I am trying to push going forward is at least $60. I just think it does not make sense to keep this lower-paying client around especially if there does not seem to be much work. I should look for a different client that suits my new rate and has relatively consistent work for me. I think the rate increase will either warrant me to at least continue working with them or if they do not want to increase it, to part ways. Please let me know your thoughts.