Freelance Writing Rates

What to charge as a freelance writer?

Knowing what freelance writing rates to charge is tricky. There is no real standard for freelance writing.

Rates for writing jobs vary greatly depending on the assignment, the employer and the exprience and skills of the freelance writer. As you gain experience as a freelance writer you will get a better idea of what to charge for each type of writing assignment. A number of freelance writing opportunities do not state a rate but ask the writer to set their own rates for the assignment.

There is always the concern that you will ask for too much and lose the job or you will set your price too low and undersell yourself. There are some good basic guidelines to use when setting your freelance writing rates.

How to charge - hourly vs. fixed pricing.

Freelance writers use different methods to set their rates - per word, per hour and per project. There is a lot of debate about which is the best way to charge. Here we look at how each method can work for you.

Rates per hour. You keep a time sheet and then bill the client the number of hours x your hourly rate. The advantage of this method is that you get paid for every minute you work on the writing job. However it can be difficult to calculate upfront how many hours the job is going to take and your initial quote to the client could be far off the mark. The client then gets a nasty surprise when the bill arrives. Clients can be concerned about the lack of financial predictabiltiy and control with an hourly rate. Charging hourly freelance writing rates can work when you are able to easily assess the time requirements and you have a good, established relationship with the client that allows for trust and some flexibility.
Rates per project. You charge the client a set amount for the writing job which is usually agreed on upfront. When working on a fixed price it is important to include a basic timeline and to clearly specify what has to be done so the client has clear expectations. Getting a fixed price right can be difficult especially if you have little experience. You need to be able to accurately calculate the time you will need to properly complete the project. You need to include preparation and research time as well as proofreading and editing time. It is important to keep a detailed record of time spent on each writing assignment so that you develop an accurate guide to the time needed for different types of writing projects. With long term projects it is advisable to propose a price for each milestone reached. Once you meet the first milestone you and the client agree on the price for the next milestone and so on. This reduces the risk of inaccurate time estimates for both parties.
Rates per word. When working out a per word rate it is essential that you factor in all the hours required. A 200 word article may require the same amount of research as a 500 word article. Some writers combine an hourly rate for research with a rate per word for the actual writing assignment when quoting a price for a job.

There is no definite answer to which is the best method of setting freelance writing rates. You should look at the situation and find out what works best for you.

What do I need to consider when setting my rates?.

Setting your rates is challenging - there is no right or wrong answer when it comes to pricing - but you need to consider these factors when determining your price.

Your costs. Your rates must be sufficient for you to cover your costs and make a profit. You need to consider expenses such as internet expenses, computer costs, phone calls, membership and subscription fees, utilities and taxes.
What is the competition charging? You can use resources on the web to see what other freelance writers are charging. www.the-efa.com is the website for the Editorial Freelancers Association and has guidelines about average rates. www.writers.ca also has information on freelance writing rates. You can join professional writer's organizations and network with other freelancers to find out going rates.
Experience and skills. Experienced freelancers can generally charge higher rates than beginners but experience is not the only factor. Skills and specialist knowledge can also command higher rates. However if you are just starting as a freelance writer and have little experience you do need to set your rates accordingly. As you prove yourself and establish credibility as a good writer you can increase your fees.
Your turn around time. Clients are often prepared to pay a premium for quick delivery. If you have the skills and resources to complete the job quickly this can effect your freelance writing rates.
Market demand. The greater the demand for your area of writing and expertise the more you can charge. Pointers that indicate there is a high market demand for the type of writing services you are offering include the number of freelance writing jobs listed in this field and the length of time the assignments have been available.
Your client. Rates can vary for different clients. This can happen because the client is demanding a certain level of quality, a tighter deadline or they are repeat clients who specifically want to make use of your writing services.

Remember that freelance writing rates are set around a product and a process. The quality of the finished writing job (your product) and the efficiency of the process in producing the product are what determines the price for the client. So when asked by a potential customer "How much do you charge for an article?" you should respond with "an article costs ...". This way the rates do not revolve around you personally but around your product. This removes any issues about you being "expensive" or "cheap" and focuses on the value of the finished product. Your writing, which is your finished product, is the sum not only your time but of your skills, knowledge, experience and ability.

Use these free guides to help you with your work from home writing business.