I think starting at the very beginning is always a good place to dive into a new blog community, so let’s start our journey together on Freelance Writing Jobs by talking money. After all, that’s usually the thing people are most interested in, right?
It’s hard to know how much to charge for your freelance writing services because job opportunities run the gamut in terms of pay rates. I’ll leave the discussion about whether or not you should apply for low-paying freelanceto another day (yes, I do have an opinion about that, which I’ll share later this week). Today, we’re going to look at freelance writing rates from the writer’s perspective. In other words, how much money do you need to make to live on?
Truthfully, the best way to establish your freelance writing rates when you’re new to the field is to determine how much money you need to make per hour to pay your bills or meet your personal goals. Each individual has very different needs from their writing career, so it’s impossible to compare your rates to another person’s. Doing so is like comparing apples to oranges, and will only confuse or frustrate you.
Take the time to analyze how long it takes you to write different types of content based on the amount of information you have to complete the task and all the extraneous bits and pieces that go into completing the task (such as research, adding images, citing sources, linking, and so on). Now, compare that amount of time with your required hourly earnings. Do a little math to determine how much you need to charge for a specific project presented to you based on the amount of time it will take you to complete that project. That’s the rate you need to charge for that writing gig.
Employers are used to working with writers with vastly different hourly rates based on their experience levels and abilities. Until you know where you stand in that rates spread, use the calculation below to determine the rate you need to charge in order to make enough money to pay the bills:
# of hours it will take you to complete the project X $ you need to make per hour to live = Project Rate
Check back later this week when I’ll talk about my views on adjusting your project rate, taking low paying writing jobs, and writing for free (don’t go crazy until you read that post).
How do you determine the rates you charge on writing projects? Leave a comment and share your tips.