The amount a sponsor or business pays an Instagram influencer is based on two factors, the number of followers and follower engagement an influencer has.

On average, sponsors pay Instagram influencers $1,000 per 100,000 (or $100 per 10,000) followers to collaborate with their brand.

If you're thinking about hiring an Instagram influencer, double-check their engagement rates to ensure they're legitimate and you're making a sound investment.

You can calculate engagement rates by taking the average likes and comments per post and dividing it by the number of followers. (There are also many engagement rate calculators you can use for free online.