Three Factors that Affect your Freelance Writing Fees
Many of my recent posts have been based around setting freelance writing fees. With the new year on the way, this is a topic that a lot of aspiring writers are interested in. After all, the first of the year is among the best times to put new fees into effect. Of course, if you do not know what goes into setting your freelance writing fees, you will be a bit lost when it comes to doing so.
Here are three important factors that will affect your freelance writing fees.
1. How much experience you have is essential. If you are a beginner, you will have to start out at the bottom of the food chain. This is not to say that you should short change yourself, but at the same time you will not be able to command the same rates as an established veteran. Base your experience on how long you have been a freelance writer, as well as the samples that you have compiled.
2. What are your competitors charging? While it is impossible to get information on every competitor, you should do your best to collect some details. For instance, many freelance writers have websites that publicly offer pricing information. When you find this information, bookmark it or begin to make a list. Just remember, you must consider the experience of the writer in correlation to their fees.
3. How bad do you need new business? If you are struggling to find work, there is a good chance that you may want to temporarily lower your freelance writing fees. This will definitely help you to attract new clients, especially if you have experience. But remember, you do not have to keep your rates low forever. After you secure new business and are comfortable with where you are at, you can then slowly increase your fees.
By now, you are probably working on your freelance writing fees for 2008. When doing so, keep the three factors above in mind. They will help you to best position yourself for success in the new year.
December 20th, 2007 at 2:05 pm
“If you are a beginner, you will have to start out at the bottom of the food chain.”
Chris, I’m sorry - but don’t agree with this. The only reason you should start at the bottom of the food chain is if you are desperate for any amount of money or your writing is not up to par.
There are a host of issues associated with a low pricing model. One of them being the kind of customers and work you attract. Writing 500 word articles for $3 (or something similar) would have one or more of the following effects on you an your career,
>> You will live in anxiety, considering how little you are earning.
>> Your writing will suffer as you will have no motivation to improve and write really polished content.
>> Your self confidence will plummet.
>> You will continue to attract more of the same kind of customers. Aside from the “out there” concept of the Law of attraction, the writing samples you will be generating wouldn’t encourage customers to offer you $20 an article.
All that being said, there are always exceptions. Some might have started at the bottom and moved up. I would say that they did it “despite” starting at the bottom and not “because of it”. However, it’s a detrimental concept to hold in mind while starting a freelance writing career.
Getting projects is about selling yourself. Selling yourself depends, to a large extent, on the image or *brand* you create for yourself.
Ahh…I got to stop - this is becoming an article itself rather than a comment.
December 20th, 2007 at 4:14 pm
Nadin - I agree; there is no reason for newbies to work for slave wages. That is why I stated, “This is not to say that you should short change yourself…”
In my opinion it is important for writers to realize that working their way up the food chain is essential to succes.
Anyway, thanks for the great comment!
December 20th, 2007 at 8:12 pm
One thing I take into consideration when pricing is the length of the job. How long can I expect a stream of income. It’s easier to offer a better price for a commitment of 26 columns on a subject than a one-time article.