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.
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.