Know Your Worth in 2024

Negotiating freelance writing charges is overwhelming.

You like writing however don’t need to be taken benefit of. It’s essential to make a dwelling, 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.

Everyone has totally different solutions, experiences, and emotions on the topic.

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

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

On this publish, you’ll discover out.

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

You’ll have faith in your price.

Present Me The Cash

Let’s leap proper in and test how a lot you may 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 unhealthy, proper?

Let’s break it down and take a look at a research achieved 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.

After we look even nearer, they discovered:

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

It tells you not less than 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.)

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

Writers on this earnings vary have discovered a number of 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 take a look at some totally different charges that can assist you resolve how finest to cost purchasers and assist you to discover that income sweet spot that works for you. 

Per-Phrase Charges

Typically, 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 high of their sport and has outlined their desired phrase depend with an inexpensive deadline.

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

So, let’s just remember to’re conscious of what the going per-word charge is.

How A lot Can You Cost?

These charges are versatile. There are lots of components it would be best to think about when setting your charges (extra on that later). 

Right here we have now 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 details about per-word charges💡

• $250 – $399 is the preferred 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 completely.

Hourly Charges

Pricing an hourly charge will be tough for a writer. 

Let’s say you’re freelance charge is $20 per hour. That sounds cheap, 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 laborious to justify leaping from $20 per hour to $75 per hour for those who’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 laborious approach. However fortunately, you may be taught from their errors.

How A lot Can You Cost?

Right here’s a breakdown that can assist you gauge your per-hour charge based mostly 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 details 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 information suggests {that a} author who makes a speciality of a selected space or has lots of expertise feels extra comfy setting an hourly charge for his or her expertise.

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

Per Mission Charges (Flat charge)

Charging a flat charge per challenge 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 contemplate. For instance:

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

So, if the vast majority of writers (97%) content material writing for blogs cost per phrase, you may be questioning:

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

There are lots of different methods to make cash freelancing. Listed here are a number of of the extra common strategies. 

How A lot Can You Cost?

This research from Ashley Cummings offers some nice insights into the typical prices per challenge:

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

💡Enjoyable details about per-project charges💡

• 65% of freelancers select to cost per challenge.
• 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 several types of content material utilizing a wide range of writing charges particular to every one.

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

Determine 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 limitless.

There’s a distinct segment for each author. Try a number of common ones here, and see if any get you excited!

Content material Advertising & website positioning (Search Engine Optimization) Writing

Content material advertising and marketing is the planning, creating, and sharing of invaluable content material. The purpose is to draw and convert readers into prospects and prospects into repeat patrons. 

In a nutshell, a content material marketer educates the reader and builds belief with them so they’ll 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 by utilizing related phrases or phrases to assist them discover merchandise, providers, info, or a enterprise. These advantages assist drive gross sales, enhance 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.

Electronic mail Advertising

These are primarily brief 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 e-mail.
• $200 – $300 for 4-5 day e-mail sequences.

Companies that pay massive bucks for e-mail advertising and marketing are:

• Ecommerce companies
• Retail
• Hospitality
• Influencers
• Luxurious manufacturers
• Wedding ceremony Trade
• And many others.

Touchdown Pages

A landing page is a selected single web page that an individual will click on by way of by way of e-mail, commercial, digital service, and so forth. 

The first goal of making a landing page is to advertise advertising and marketing and promoting that may appeal to prospects to the following step towards making a purchase order.

You may cost:

• $300 — $800 per web page, relying in your expertise degree and the purchasers funds.
• $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 principle varieties of white papers are:

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

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

They’re often roughly 2,500 phrases lengthy and have a simple 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 folks make over $250k yearly.

Web site Copywriting

Typically 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 contains:

• Dwelling pages 
• Companies pages 
• Contact pages 
• About pages 
• And many others.

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 common areas through which freelance writers can thrive. 

This straightforward chart from Elna Cain offers you some perception into progress your profession ⬇️:

Listed here are another areas you could additionally pursue:

The record goes on.

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

You simply have to 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 offers you confidence in your expertise to know their objectives, deadlines, and funds. 

The extra freelancing expertise you might have, the higher you grow to be at producing high quality written content.

Meaning much less work on the backend on your shopper spent enhancing 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 here are a number of questions to contemplate when setting your charges…

Do You Have Expertise in a Explicit Area of interest?

Experience in a selected area of interest isn’t vital for being a content material author however will 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 wish to seek out your area of interest, think about what you’re keen on considering, writing, speaking about, and studying. Or pull out of your work expertise and present pursuits. 

Listed here are a number of examples:

• Should you’ve labored as a baker at a neighborhood bakery, you’ll have invaluable data relevant to content material writing for a meals weblog.
• Let’s say you like being updated on what the most effective 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 increased charges will likely be acceptable to purchasers. 

Should you’re a beginner author, you may be overwhelmed simply making an attempt to determine discover a potential shopper. 

But, for those who’re insecure about your degree of writing expertise, it’d curiosity you to understand how your earlier schooling is an asset. 

What Is Your Highest Degree of Training?

Training could make a distinction to your freelance author charge for a number of causes:

When you’ve got a level in, let’s say, enterprise and also you’re keen on freelance writing for monetary blogs, your schooling will turn out to be useful. 

Individuals with a post-secondary diploma typically 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 prone to pursue a freelancing profession.

However don’t let these stats dissuade you. 

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

Plan At this time, Thrive Tomorrow

I’m certain you’re price one million bucks, however don’t chunk off greater than you may chew. 

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

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

Keep in mind, you’re working a contract writing enterprise.

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

What Are Your Overhead Prices?

What Are Your Earnings Targets?

• Distinctive expertise you provide a shopper

• Pace to high quality content material ratio

• Mission 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.

Make Mates With Your Freelance Writing Charges

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

Everyone’s path is totally different, and it certain helps to know the place you’ve been, the place you’re going, and get there.

You’re properly 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 realize your price, everyone wins!