I don't do take home assignments, but when I did, I would offer to do it at my hourly rate, even if it was just an hour. It's time I would otherwise spend making money.
Anyone worth working with respected that and I landed several clients who forwent the assignment altogether. It's chump change in the grand scheme of things, and often a formality.
Does help that I have a very public web presence and portfolio, though.
I couldn't care less about getting paid for a few hours, what's truly annoying when you're job hunting is the company having an extremely high rejection rate even at the take-home stage. That's an inordinate waste of time multiplied by a lot of companies.
If you have a >50% chance of rejecting, don't even give the candidate a take-home. Be at least 90% sure you want them before you get to that stage.
I have foregone our take home for exceptional candidates, but let me ask you, do you also demand compensation for in person or zoom call 1-1 interviews? Surely thats the same time of your life.
It signals a degree of investment from the other side if they're willing to burn their own time talking to you. I can understand a small screening process to filter candidates, but I'm not going to do your silly dance for multiple hours if you're not going to do it with me.
They're paying with their time, and I have questions I want to ask them. It's a mutually beneficial experience.
Being told "here do this arbitrary thing that will take 4 hours of your time and maybe we'll look at it, and then if we even bother to do that, maybe we'll respond" is different than an interview where both parties invest their time face-to-face.
Anyone worth working with respected that and I landed several clients who forwent the assignment altogether. It's chump change in the grand scheme of things, and often a formality.
Does help that I have a very public web presence and portfolio, though.