What are your prices for writing and editing services … and how much value do you give?
June 20, 2007 by Lillie
Yvonne at Grow Your Writing Business has an excellent post on the distinction between value and price.
Although I commented on her post, I decided to carry the conversation back here to my readers.
There are huge differences in what writers charge, and the writers who earn the higher rates have to give more value to clients in exchange for the higher price.
Writer’s Market has a helpful guide on what to charge for various kinds of writing and editing.
For example, in the Internet category, Web page writing has this range:
- Low: $30/hr, $100/project, or .35/word
- Average: $83/hr, $1,251/project, or .86/word
- High: $150/hr, $7,000/project, or 1.25/word
In book publishing, Content Editing (trade) has these ranges:
- Low: $19/hr, $1,000/project, or $3.75/page
- Average: $49/hr, $7,988/project, or $7.50/page
- High: $125/hr, $20,000/project, or $40/page
I usually charge by the hour since most of the book projects I work on require a LOT of editing, and it’s difficult to determine how long it will take. Most of my book-editing clients are excellent storytellers … with less-than-excellent writing skills.
When I do agree to a project price, I usually end up underestimating the time required and make less than my desired hourly rate, which is a little higher than the Writer’s Market average but a lot less than the high 
.
Obviously, a writer has to decide whether to charge prices at the low, average, or high level based on experience, desired income, skill, and market factors. My hourly rate has always been above average, but it took several years before I reached the point where I have all the work I can handle and a waiting list of clients with books to edit.
Wow. I didn’t realize that some writers charged so much for their services. Most of my rates are actually average or a bit below that. I guess I’ll have to start raising my rates for new clients. I read an article just the other day in a writer’s magazine that said most writers don’t charge enough and that whatever you charge you should immediately double it. I don’t think I’ll do that, though!
Michi,
Doubling your rates might be drastic.
There are too many writers willing to work at the low rates. But that’s where bringing added value to your service is important. The more you have to offer, the more clients will be willing to pay.
Excellent points. I’ve decided to keep my prices low because I want to help the businesses that don’t have much money to start. But sure, mine are not writing prices. Besides, I live in a village and I have to understand the local needs too. And when I get orders from bigger corporations (yes, that happens too) I don’t change the fees. It wouldn’t be fair. It’s better to refuse the order than to cheat on the price.
Mig,
You’re right that you have to take the needs of the market in mind in setting prices. I realize that not everyone can afford my prices, but I always try to help writers who can’t afford my services by offering suggestions and alternatives.
For example, I strongly advocate writers groups for writers to improve their craft and network with other writers. I encourage beginning writers to help each other with critiques. Sometimes writers can use free or less-expensive ways of improving their writing so they can come back to me with a manuscript that doesn’t need nearly as much work – saving them money.
Also, I encourage writers to start working with me early in the process so I can help them improve their writing skills. I explain why I suggest changes and teach them along with editing, so with each chapter, their work improves. By the end of the book, the manuscript needs much less work than the beginning. That’s part of the added value I try to give to my clients.
There are times when I get completely frazzled when it comes to pricing, and times when I feel completely confident…*eek*
Alicia,
We probably all fall into that completely frazzled state sometimes – I sure do when I realized I’ve quoted a project price that is based on far fewer hours than the job actually takes.
Thanks for mentioning my post Lillie, and for getting this conversation rolling. I’ll follow it with interest.
Thanks for giving me the idea, Yvonne!
[...] Yvonne, at Grow Your Writing Business, points out that writers add value to projects. Lillie at a Writer’s Words, An Editor’s Eye points out that writers should charge a fair rate for their work, and provides some rate statistics. [...]
This is a very good conversation. Admittedly, my pricing structure isn’t what I want it to be. I charge varying rates for articles, press releases, and web content. Rather than having a written-in-stone rate (although my web site seems to indicate such) I prefer to give a quote based on what information the client shares with me.
Articles start at $50 on up, but a web page will generally cost between $100 and $200 per page. Press releases start at $95, but my going rate is $119 for 500 words or less.
Thanks for sharing, Matt.
This is really great information, as I’ve been considering boosting the household income with a little freelancing.
Two Write Hands,
I’m glad you found the information useful. Good luck with your freelancing.
Lillie – if you know from experience that you “usually end up underestimating the time required”, doesn’t that tell you that you should be estimating more time for each assignment? I had the same experience early in my career as a freelance writer/editor, and I learned that most assignments take twice as long as I first think, so now I allow for that when I quote a price.
Kay
Kay,
You have a valid point. Everything does takes twice as long as expected.
I prefer to charge by the hour because I find that every manuscript is different. A 300-page manuscript takes me an average of 30 hours to edit. However, I have spent as little as 15 hours and as many as 75 hours on individual manuscripts. Obviously, the ones that took less time needed little work, while the ones that took that most required major rewriting. Although it is obvious from reviewing the first few pages of the manuscript that it will take less or more time than average, it is difficult for me to know how much more or less because the major plot flaw may not show up til three quarters of the way through the book. To be fair to all my clients, I charge for the actual time it takes me.
Also, I do a lot of other things for most of my clients, such as help with proposals and query letters for those seeking traditional publication or assist with finding and contracting with suitable vendors for those who self-publish. I also do research, create and maintain Web sites, write and distribute news releases and ad copy, do research, consult … whatever clients need to write, publish, and promote their books. Both my clients and I find it simpler for me to keep a tally of time time I spend on their work and invoice them at the end of the month for the number of hours I have worked. There’s never a question of whether a particular task should be part of a specific project – if I do the work, I bill for it. I do answer questions by phone or e-mail or do simple tasks that take less than a quarter hour without charge for regular clients.
Many writers and editors work on a project basis, and that’s great if it works for them. But with most of my clients, I consider myself an assistant, consultant, and collaborator over the long term rather than the editor of a single book.
I was wondering what a fair fee structure could be for attending a conference for a weekend, writing down a summary of the proceedings/results/position decided by the conference, and then posting an executive summary of the proceedings on a website.
Please help! I have written only for scientific journals for free, and have no idea what to charge for my services.
Lori,
I have responded to you by e-mail with some questions that must be considered in determining a fair price for this project. Feel free to make another comment as I’m sure others will be interested in this conversation.
[...] also need to determine your freelance writing rates. You will find excellent advice on setting rates on some of the sites mentioned in Parts 1 and 2 of [...]
My web content prices are very average, according to this – but I did want to share one thing.
You are SO right about adding value. I got a new client the other day, and he told me he was hooked because I took the time to look up relevant keywords for his project before I even answered his initial e-mail.
It only took ten minutes to look them up, and it was well worth it. He found value in the fact that I cared enough to look up keywords (and then, of course, he enjoyed his content) but the point is, he saw value with me while he was still looking at other writers.
Excellent example of adding value, Angie. You demonstrated your worth from the beginning.