Hiring a quality worker is vital to growing your business fast.
That’s a lot easier said than done. Perhaps you don’t know the skills you need. Maybe the freelancer doesn’t finish their project on time. Or the freelancer can’t effectively handle clients.
What if the freelance platform did the heavy lifting for you?
What if the freelance marketplace vetted freelancers who don’t have the right skills? Then once they found your project needs, they filtered the freelancers who have the skills you need? What if they proactively remove low-quality freelancers?
This is what makes Toptal an excellent freelance marketplace. They do this by finding the top 3% of freelancers and matching you to the right person so you don’t have to.
Toptal’s claim to screen 3% of the talent may or may not be entirely accurate (I’ll discuss Toptal’s vetting process in a moment).
What matters is Toptal saves you time spending hours filtering through freelancers for their performance. After all, if Toptal didn’t have hoops for freelancers to jump through, then their available talent would dilute. As a result, their market differentiation would be… the same as almost any other freelance marketplace.
Many entrepreneurs hiring on Toptal note their support staff is very hands-on. Toptal also has a fantastic UI and billing process.
Toptal uses a 5-step screening process to vet freelancers:
Even with this level of screening, Toptal has a wide pool filled with a specific talent set. Instead of asking for a DevOps, Toptal can help you find an “AWS DevOps engineer who understands Docker, Jenkins, RDS...” and any other needs you may have.
The dollar per hour will often increase when you need a specific skill set. But you’ll also know the freelancer better fits your needs than finding a freelancer for yourself on Fiverr.
As of this writing, Toptal has vetted:
One entrepreneur wrote on Quora, “After Toptal announced their financial service expansion, I asked for assistance in validating and refining my business pitch. This was the best ROI I could have ever done.”
“Toptal matched me up with an expert, and now a friend, who asked me the hard questions that VCs ask and challenged me on everything... The result is that I have 6 VCs interested in my company. Tremendous ROI from a brief engagement.” (Source)
Toptal has a fast placement process. According to Toptal, “In a typical engagement, we’ll introduce you to candidates within 24 hours. And 90% of our clients hire the first candidate we introduce.”
Toptal sets high standards for freelancers. Freelancers must maintain high customer satisfaction ratings. Otherwise, Toptal will remove them from the platform.
A no-risk test project. The first time you work with your freelancer, you get a two-week test period with your new hire. If you’re not satisfied, Toptal will take the loss and won’t charge you for the freelancer’s work. (Please note: this is not a “free trial” in that if you accept the project, you will pay for the hours billed).
Toptal’s screening process 3% will weed out some quality workers. But it’s better to miss out on a potential A player than to waste precious time on a borderline freelancer who turns out to be a B or C player.
Toptal isn’t the perfect freelance marketplace (none are). Which brings me to my next point...
The main complaint entrepreneurs had about Toptal was a misunderstanding about their “No-risk trial.”
Toptal requires a $500 deposit which applies to your first bill. If you get a freelancer you are not satisfied with, you are not required to make any payment. You can choose to either part ways with Toptal or restart the hiring process.
Most Toptal complaints come from freelancers who did not pass Toptal’s screening interviews.
As I mentioned in the last section, no hiring system is perfect. Still, it’s worth considering how Toptal treats freelancers because this indicates the quality of workers they attract.
Some senior developers may be tested on projects junior developers may do, such as setting up tables. Senior developers tend to outsource these projects to newer workers. These boilerplate exercises feel like telling an expert carpenter to hammer 50 nails into a board in a minute, then disqualifying them as “too junior” if they fail.
The issues with the screening process are fair. But I’ve talked to senior developers who have had this hiring experience outside Toptal. Most can swallow their pride and practice doing low-level skills to get another job. If a developer isn’t willing to do grunt work when necessary, perhaps you do not want them to lead your team.
The other complaint freelancers give are receiving lower pay than they expected.
Toptal doesn’t charge you a fee to hire a freelancer. Instead, they provide freelancers at market rates and take a percent from the freelancer.
Taking a commission from freelancers is reasonable because Toptal does the marketing and sales for the freelancer. Doing this on their own may account for 10-30% of one’s budget.
While a freelancer cannot set his or her hourly rate, he or she can ask their recruiter to increase or decrease their rate.
What does Toptal charge? That brings me to the next section.
Toptal does not charge a fee above their regular pricing. Instead, they add a profit margin above the freelancer’s rates.
Most rates you’ll pay are what you’d expect to pay outside their platform.
Toptal offers this pricing chart:
What you pay your freelancer depends on:
Toptal sends invoices twice a month. Each invoice includes net-10 payment terms, or 10 days to pay an invoice. This allows you to review any time billed before paying.
Finally, Toptal also requires you to deposit $500 upfront before you begin. This amount comes out of your first invoice. If you reject the test project, they return the money to your account.
You could spend thousands on a recruiting agency. You can also do-it-yourself and invest hours finding freelancers, weeding out copy-and-paste templates, and filter through each resume.
Or you could let Toptal do it for you.
Toptal tests and screens freelancers skills. Further, Toptal proactively removes any freelancer who isn’t delivering high-quality work on time.
If you believe “you get what you pay for” and want one less thing to worry about, then Toptal is a fantastic choice for you.