Today oDesk announced the addition of a fixed-price option to its current hourly pay structure.

The new fixed-price option, currently in public beta, gives more flexibility to buyers and service providers for setting their rates and allows for optimal pricing in the remote work marketplace. oDesk is the first and only job marketplace that allows both fixed-price and hourly pay options.

oDesk makes it easy for businesses to hire world-class technical talent at globally competitive rates. With nearly 10,000 providers from more than 50 countries, oDesk allows buyers to quickly find and hire talented, qualified workers. Through the use of integrated management tools such as a source code repository and bug tracking system, as well as the oDesk WorkDiary, employers can track project progress and collaborate with team members as though all were working in the same office.

"While the hourly pay option is ideal for larger projects or projects with evolving requirements, many oDesk buyers and providers have expressed interest in a fixed-price option for smaller projects with firm requirements or situations where a buyer's budget is firm," said Gary Swart, CEO of oDesk. "Combined with oDesk's unique hourly pay model, the new fixed-price option gives buyers and providers the flexibility they want when they kickoff a new project, and demonstrates oDesk's commitment to enhancing the remote work experience for everyone."

Since the launch of the fixed-price beta, more than 700 fixed price jobs have been posted on oDesk. The oDesk global network offers a wide range of competitively paid jobs for freelancers, programmers, systems administrators, web site developers, technical writers, and QA engineers, expanding the potential employer pool from the local market to the entire world. oDesk offers buyer and provider feedback ratings, free skills tests for providers and the ability to work from anywhere, anytime.