Know Your Worth in 2024

Negotiating freelance writing charges is overwhelming.

You like writing however don’t need to be taken benefit of. It is advisable to make a residing, however you’re afraid to “rock the boat” when negotiating your pay charge.

Once you ask writers the age-old query… “how a lot cash can I make freelancing?” You find yourself being extra confused than you have been earlier than.

All people has completely different solutions, experiences, and emotions on the topic.

(Spoiler alert, that’s as a result of there isn’t an easy reply.)

However possibly you’ve been asking the improper query. As an alternative, ask your self, “How a lot cash am I price?”

On this publish, you’ll discover out.

Moreover, you’ll study the alternative ways of being a contract author, how a lot cash you’ll be able to count on to earn, and the way your earlier expertise matches into the equation.

You’ll believe in your price.

Present Me The Cash

Let’s leap proper in and verify how a lot you can also make as a freelance writer:

• On common, freelance writers earn $24.22/hour. 
• At an everyday full-time job (40hrs/week), that may earn you near $50k per yr. 

Not dangerous, proper?

Let’s break it down and have a look at a examine executed by Peak Freelance:

• 91% of writers of their first yr make lower than $30k.
• 50% of writers have labored 6-10 years to get into the $100k membership.

Once we look even nearer, they discovered:

• 50% (or extra) of freelance writers earn lower than $30k per yr. 
• 18% of freelance writers reported revenue ranges of $31k – $50k. 
• 5% reported making between $100k – $125k.
• 4% earned over $125k.

It tells you a minimum of 70% of freelance writers make lower than $50k per yr, and fewer than 10% make over $100k.

(To place that into perspective, 50% of freelance writers solely work 10hrs/per week.)

Which means 20% of writers are making $50k-$100k per yr — the candy spot.

Writers on this revenue vary have discovered just a few necessary issues to get them there.

They’ve discovered their price.

How To Set Your Charges For Freelance Writing

So, let’s unravel this. We’ll have a look at some completely different charges that will help you determine how greatest to cost purchasers and show you how to discover that income sweet spot that works for you. 

Per-Phrase Charges

Usually, a freelancer beginning out will cost a per-word charge. It’s a sensible alternative, because it helps you and the freelance writing shopper be on the identical web page.

Let’s say this shopper is on prime of their sport and has outlined their desired phrase depend with an inexpensive deadline.

There must be no query about how a lot you’re getting paid and the way lengthy it should take. 

So, let’s just be sure you’re conscious of what the going per-word charge is.

How A lot Can You Cost?

These charges are versatile. There are various components it would be best to take into accounts when setting your charges (extra on that later). 

Right here we now have a fundamental breakdown from We Are Indy:

• Entry Degree — $.03 to $.06 per phrase
• Intermediate — $.07 to $.12 per phrase
• Skilled — $.13 to $.20 per phrase
• Skilled Degree — $.21 to $.30 per phrase

💡Enjoyable info about per-word charges💡

• $250 – $399 is the most well-liked charge for a 1500-word blog post.
• 21% of freelancers cost per phrase.
• 34% of freelancers cost lower than $.20 per phrase.
• 85% of freelancers cost lower than $.30 per phrase.
• 97% of writers that cost per phrase write weblog posts, however not solely.

Hourly Charges

Pricing an hourly charge might be difficult for a writer. 

Let’s say you’re freelance charge is $20 per hour. That sounds affordable, however you won’t discover it sustainable. 

As your expertise sharpen and your pace will increase, it would be best to increase your charges.

But, it’s arduous to justify leaping from $20 per hour to $75 per hour should you’re used to working with an everyday freelance writing shopper who won’t be inclined to pay extra. 

Many skilled freelancers have discovered this lesson the arduous approach. However fortunately, you’ll be able to study from their errors.

How A lot Can You Cost?

Right here’s a breakdown that will help you gauge your per-hour charge primarily based in your expertise degree:

• Entry Degree — $15 to $30 per hour 
• Intermediate — $35 to $60 per hour
• Skilled — $65 to $100 per hour
• Skilled Degree — $105 to $150 per hour

💡Enjoyable info about hourly charges💡

• 53% of freelancers with a bachelor’s diploma cost $50 – $100+ per hour. 
• 3% of freelancers with solely a highschool diploma cost by the hour.

The info suggests {that a} author who makes a speciality of a particular space or has a whole lot of expertise feels extra comfy setting an hourly charge for his or her expertise.

(Try this useful calculator that converts a yearly wage to an hourly charge.)

Per Undertaking Charges (Flat charge)

Charging a flat charge per venture is most popular for writers. It does assist if you have already got some expertise, although, as a result of there are some things to think about. For instance:

• What number of hours will it take to finish the writing venture?
• What’s the complete phrase depend?
• How a lot analysis is required?
• What’s the scope of the venture?
• How sophisticated is the writing venture?

So, if nearly all of writers (97%) content material writing for blogs cost per phrase, you is perhaps questioning:

“What are freelancers writing that isn’t weblog content material?”

There are various different methods to earn a living freelancing. Listed below are just a few of the extra standard strategies. 

How A lot Can You Cost?

This examine from Ashley Cummings gives some nice insights into the common prices per venture:

• Guides and ebooks — $5500
• Web site copy — $3200
• Touchdown pages — $2175
• Gross sales letters — $1750
• Advertisements — $1050
• Case research — $870
• Weblog posts — $550

💡Enjoyable info about per-project charges💡

• 65% of freelancers select to cost per venture.
• 27% of writers cost between $250-$400 per 1500 phrase publish, and in addition that:
• Most writers who earn greater than $100k per yr cost a min. of $1000 per publish.

Most freelancers oscillate between writing various kinds of content material utilizing quite a lot of writing charges particular to every one.

Let’s look carefully at a few of the extra standard niches for which freelancers create content material.

Establish Your Area of interest and Go For It

There’s a ton of labor for freelance writers. Most writers begin out blogging, however the alternatives are countless.

There’s a distinct segment for each author. Try just a few standard ones here, and see if any get you excited!

Content material Advertising & search engine marketing (Search Engine Optimization) Writing

Content material advertising and marketing is the planning, creating, and sharing of useful content material. The objective is to draw and convert readers into prospects and prospects into repeat consumers. 

In a nutshell, a content material marketer educates the reader and builds belief with them so they are going to buy services from the enterprise.

Content marketing reaches far into many areas of content material creation for freelancers, together with:

• Blogs
• Ebooks
• Case research
• Movies
• Social media
• Podcasts
• Audiobooks
• And a lot extra. 

SEO writing advantages on-line searchers through the use of related phrases or phrases to assist them discover merchandise, providers, info, or a enterprise. These advantages assist drive gross sales, enhance site visitors, and enhance model consciousness.

You may cost:

• $.07 – $.12 per to begin with at an intermediate degree after which notch your freelance author charges as much as $.20 — $.30 per phrase as you sharpen your expertise.
• A good charge for writing a 1500-word weblog publish is $250 – £399.

E mail Advertising

These are primarily quick items of content material you write to assist with strategic advertising and marketing for on-line companies.

Freelance writing capitalizes on aiding on-line companies by writing email content material for promotions, bulletins, onboarding, newsletters, and extra.

You may cost:

• $100+ per electronic mail.
• $200 – $300 for 4-5 day electronic mail sequences.

Companies that pay huge bucks for electronic mail advertising and marketing are:

• Ecommerce companies
• Retail
• Hospitality
• Influencers
• Luxurious manufacturers
• Marriage ceremony Trade
• And so forth.

Touchdown Pages

A landing page is a particular single web page that an individual will click on by by way of electronic mail, commercial, digital service, and many others. 

The first objective of making a landing page is to advertise advertising and marketing and promoting that can entice prospects to the subsequent step towards making a purchase order.

You may cost:

• $300 — $800 per web page, relying in your expertise degree and the purchasers price range.
• $5,000 for skilled freelance writers working for a bigger enterprise.

White Papers

Merely put, white papers are informational documents.

(Like this one beneath ⬇️)

The primary forms of white papers are:

• Backgrounders (An official briefing or handout giving background info.)
• Numbered lists 
• Drawback/Answer doc

White papers are extremely wanted by startup firms, giant firms, non-profit organizations, and authorities businesses. 

They’re often roughly 2,500 phrases lengthy and have an easy but compelling narrative.

You may cost: 

• $500 — $1000 for a single white paper.
• $5,000 for bigger ones that require extra analysis or interviews.

White papers are very profitable; some individuals make over $250k yearly.

Web site Copywriting

Generally confused with content material advertising and marketing, web site copywriting is for web sites to showcase their branding and switch browsers into prospects.

Web site copywriting consists of:

• Residence pages 
• Providers pages 
• Contact pages 
• About pages 
• And so forth.

You may cost:

• $1 — $3 per phrase.
• $60 — $100 per hour.
• $400+ per web page at a flat charge.

That was only a snapshot of a copywriting charge. There are many standard areas through which freelance writers can thrive. 

This straightforward chart from Elna Cain will provide you with some perception into the way to progress your profession ⬇️:

Listed below are another areas that you would be able to additionally pursue:

The listing goes on.

However this is a superb begin that will help you perceive all of the alternatives and their freelance writing charge. 

You simply must dive in and construct up your expertise degree one step at a time.

Why Your Expertise Is An Asset

Expertise issues. 

It helps you construct belief with potential purchasers and provides you confidence in your expertise to grasp their objectives, deadlines, and price range. 

The extra freelancing expertise you’ve, the higher you develop into at producing high quality written content.

Which means much less work on the backend to your shopper spent modifying and formatting your work. 

It helps to justify your freelance writing charges.

Assess Your Expertise Degree:

Should you’re a beginner freelance author or an skilled author, listed below are just a few questions to think about when setting your charges…

Do You Have Expertise in a Explicit Area of interest?

Experience in a particular area of interest isn’t essential for being a content material author however might be useful when approaching a possible shopper. As your expertise grows, so will your writing expertise and the variety of your niches. 

Should you’re new and want to search out your area of interest, contemplate what you’re keen on considering, writing, speaking about, and studying. Or pull out of your work expertise and present pursuits. 

Listed below are just a few examples:

• Should you’ve labored as a baker at a neighborhood bakery, you’ll have useful data relevant to content material writing for a meals weblog.
• Let’s say you’re keen on being updated on what the perfect headphones are and why. You’ll in all probability have luck writing an electronics weblog publish.

Discover two or three niches as your content material sort, and begin writing.

How Many Years Have You Been Writing?

Each author has their very own distinctive life experiences and pure aptitudes. Should you’ve been writing professionally for six+ years, you’ll have gained a stronger relationship along with your writing, and charging greater charges might be acceptable to purchasers. 

Should you’re a beginner author, you is perhaps overwhelmed simply attempting to determine the way to discover a potential shopper. 

But, should you’re insecure about your degree of writing expertise, it would curiosity you to know the way your earlier schooling is an asset. 

What Is Your Highest Degree of Schooling?

Schooling could make a distinction to your freelance author charge for just a few causes:

You probably have a level in, let’s say, enterprise and also you’re keen on freelance writing for monetary blogs, your schooling will come in useful. 

Individuals with a post-secondary diploma usually have a better aptitude for analysis, writing papers, and assembly deadlines.

Furthermore, a whopping majority of freelance writers (76%) have a bachelor’s degree or higher. Individuals with solely a highschool schooling are much less more likely to pursue a freelancing profession.

However don’t let these stats dissuade you. 

A shopper desires to work with curious individuals who proceed studying, are nice to work with, and ship high quality content material.

Plan At present, Thrive Tomorrow

I’m certain you’re price 1,000,000 bucks, however don’t chew off greater than you’ll be able to chew. 

To start with, freelance writing generally is a grind. It’s a balancing act between discovering work, making an awesome revenue, and attempting to not burn out whereas doing it. 

You don’t need to make the error of undercharging and overworking your self. 

Bear in mind, you’re operating a contract writing enterprise.

Right here’s a freelancer guidelines of issues you’ll be able to circle again to as you progress ahead and plan your future freelance charge.

What Are Your Overhead Prices?

What Are Your Earnings Objectives?

• Distinctive expertise you provide a shopper

• Pace to high quality content material ratio

• Undertaking scope you’re comfy with

How Can You Degree Up Your Freelance Author Charges?

• Purchasers’ testimonials assist take a newbie freelance author to an professional author.

• Write for revered firms.

Make Pals With Your Freelance Writing Charges

You and your freelance writing charges have gotten quick pals already. You’ve discovered to use them to worthwhile niches and incorporate them into your marketing strategy. 

All people’s path is completely different, and it certain helps to know the place you’ve been, the place you’re going, and the way to get there.

You’re effectively in your approach.

Negotiating a better freelance author charge with a shopper is liberating. In case your reasoning is sound, you’re not making the most of them, they usually’re not making the most of you. 

When you understand your price, everyone wins!