Freelance writing rates can vary significantly depending on a variety of factors. It is common to see rates equivalent to about $1 to $3 per 100 words, but there are also some instances when the rate may be significantly higher or lower than this, too. As a freelance writer, you no doubt want to find that perfect middle ground with your own rates that keeps you relatively busy and that also pays the bills, too. If your rates are too low, you will find that you are spinning your wheels almost non-stop and are barely able to afford to put food on the table. If your rates are too high, you may be hard-pressed to find clients who want to pay for your services. Here are some factors to consider that may help you to set your own rates.
How Much Do You Want or Need to Earn?
The first thing you need to think about is not just how much money you need to earn to support your lifestyle but also how much you would realistically like to earn for your efforts. Then consider if you would prefer to take your time researching and writing the best piece possible or if you are more interested in writing quick pieces, such as those designed for SEO purposes. After this, you also want to consider how many hours each do you have available to work. These factors can all be used to help you pinpoint what your ideal rate is.
What Are Your Skills?
Now that you have an ideal rate in mind, you next want to consider the job market to see if you have the skills and experience necessary to actually charge that rate for your work. The unfortunate truth is that some freelance writers are more skilled with their mastery of the written word than others. With some, creatively beautiful prose just flows freely as they type, and with others, it takes revision after revision to turn out an equally amazing piece. Clients who pay a certain rate for freelance writing work generally expect a certain quality of work. So you want to consider if you have the writing skills necessary to not just meet their expectations, but also to meet those expectations in a way that doesn’t require time-consuming editing and revisions.
Can You Find These Jobs?
In any job market, supply and demand plays a role in the compensation that people can earn for their services. In the freelance writing world, this is no different. You may have the skills and experience necessary to charge a higher rate, but if you cannot find the jobs to do so, then your rates will need to be lowered as you work on jobs that require less skill. If you do find yourself in this position, take care not to lock yourself into a long-term commitment with these lower paying jobs. Instead, use them for short term income while you look for a job that is more suitable for your skills and experience level.
Whether you make the decision to work for $1 per 100 words or $4 per 100 words, you likely will find that you can indeed find plenty of work to keep you busy. With the ability of freelance writers to connect with clients around the globe through the internet as well as to publish and sell their own pieces, too, there are more opportunities than ever before to earn a great living as a freelance writer.
