And thus, how do you put a price on your worth? (Thanks, T, for the question.) It’s the age-old freelancer struggle. For me, my rates vary so widely from client to client, project to project because I work in so many different writing capacities. Copy editor, copy writer, investigative journalist, gear writer. I’m all over the place with my numbers, and I wonder if you are too.
My old rule used to be never take a reported piece for less than $500, but I think I need to double that rate. Once I factor in the interview(s), transcribing, follow up(s), writing, and edits, the hours and rate don't fairly equate. Then, more often than I'd like, I'm taking quick and easy pieces for $150 because I was having fun writing them. Now it's getting tedious. But those are also balanced out by some $5,000 reported pieces and branded content. As for copywriting, I'm getting $100 an hour from one client, which feels generous as long as I get enough work. Like I said: I'm allllllll over the place.
I'm curious what other people will say about this! I generally have a minimum rate that I don't like to go under ($1/word) for journalism, based on what magazines usually will pay :) I often successfully negotiate my rate up when offered less than that. Anything corporate I expect a higher rate (and almost always get). Things change when it's a different kind of project, like a travel guide update that I do regularly. In that case, I estimate using my ideal hourly rate, which I calculate backwards based on what I want my annual income to be. If anyone is successfully getting more than a buck a word from magazines these days, please share your secrets.
Thank you for sharing, Elisabeth! It's so helpful to hear someone else's standards around rates. How do you usually ask for more? And do you do it every time?
I almost always do ask for more if the initial offer is a lowball. I'll just say something like, "My usual rate starts at $1/word. Do you have any wiggle room?" And it usually works. If not, it's a judgment call on whether it's worth my time to do it. I'll do some stuff for below that rate if I'm super-interested in the story, or there's some nice perk attached (like travel), or I know it'll be really easy. How about you?
I wish I put this into practice more but I feel like I'm inconsistent! If it's for an existing client/publication, I'll ask for a bump every second or third assignment. If it's for a new client/pub and they lowball, I'll occasionally ask if they can meet my current rate. But sometimes when the byline feels worth it, I'll take the low offer to get my foot in the door and then ask for a higher rate the next time.
My old rule used to be never take a reported piece for less than $500, but I think I need to double that rate. Once I factor in the interview(s), transcribing, follow up(s), writing, and edits, the hours and rate don't fairly equate. Then, more often than I'd like, I'm taking quick and easy pieces for $150 because I was having fun writing them. Now it's getting tedious. But those are also balanced out by some $5,000 reported pieces and branded content. As for copywriting, I'm getting $100 an hour from one client, which feels generous as long as I get enough work. Like I said: I'm allllllll over the place.
I'm curious what other people will say about this! I generally have a minimum rate that I don't like to go under ($1/word) for journalism, based on what magazines usually will pay :) I often successfully negotiate my rate up when offered less than that. Anything corporate I expect a higher rate (and almost always get). Things change when it's a different kind of project, like a travel guide update that I do regularly. In that case, I estimate using my ideal hourly rate, which I calculate backwards based on what I want my annual income to be. If anyone is successfully getting more than a buck a word from magazines these days, please share your secrets.
Thank you for sharing, Elisabeth! It's so helpful to hear someone else's standards around rates. How do you usually ask for more? And do you do it every time?
I almost always do ask for more if the initial offer is a lowball. I'll just say something like, "My usual rate starts at $1/word. Do you have any wiggle room?" And it usually works. If not, it's a judgment call on whether it's worth my time to do it. I'll do some stuff for below that rate if I'm super-interested in the story, or there's some nice perk attached (like travel), or I know it'll be really easy. How about you?
I wish I put this into practice more but I feel like I'm inconsistent! If it's for an existing client/publication, I'll ask for a bump every second or third assignment. If it's for a new client/pub and they lowball, I'll occasionally ask if they can meet my current rate. But sometimes when the byline feels worth it, I'll take the low offer to get my foot in the door and then ask for a higher rate the next time.