Tips for Setting Freelance Writing Rates

Especially if you are new to freelance writing, knowing what to charge for freelance writing jobs may be difficult. How much to charge as a freelance writer depends on several factors, including the complexity of the job, how much time a job will take, and what the cost of living is where you live. When determining writing rates, take the following points into consideration.

1) Estimate how much time will the job take.
For a relatively easy job that won't require much research or time spent writing, charging a lower rate might be reasonable. If a job will require an extensive amount of time performing interviews or gathering information, you will want to factor this time into your rate.

2) Evaluate how difficult the job will be.
Will you be writing on a topic you are very familiar with and comfortable writing about, or will you have to work pretty hard on gathering your facts and presenting them? An informal article will be a much easier job than writing a business plan. Taking the difficulty level of the job into consideration will help you gauge your rates accordingly.

3) Think about the benefits you will receive from the job.
Ghostwriters or content writers usually do not receive any public credit for their work and therefore get paid more for the jobs they take. Publication writers (those who write for magazines or websites, for example) often receive a byline and a bio paragraph. Consider whether the job will lead to repeat jobs or other opportunities. If you are gaining exposure or otherwise benefiting from a project, that compensation could make up for being paid less for a job.

4) Allow for whether this a one-time gig or a repeat client.
Freelancers who work for clients on a regular basis often charge a discounted rate for their work. If this is your first job for a client, even if you think the job might lead to future work, sticking to your regular rate is probably wise. By giving a first-time client a lower rate, you could be setting yourself up for a bad precedent. You don't want a new client to think you are gullible or expect you to compromise your rates for all future jobs.

5) Factor in how much money you need to make per hour, on average.
As a new freelancer, you may not make enough to live a luxurious lifestyle. Still, when you balance out your higher paying jobs with your lower paying ones and factor in how much time you spend on both, the average of what you make per hour should be enough to at least cover your basics. Consider not only your cost of living, but also taxes, insurance costs, and even keeping a little extra in your savings for emergencies.