As a freelance writer one of the biggest pros is that you get a chance to determine just how much money you will make daily, weekly and even yearly. One of the biggest cons? You get a chance to determine just how much money you will make daily, weekly and even yearly. Being your own “boss” is a gift and a curse of many sorts.
I have had several conversations with other freelance writers and the resounding question has always been: “how do I determine my rates as a freelancer”. I have never pretended to have ALL the answers (because I don’t) but here are just a few ways I determine my rates as a freelancer:
Check For Market Rates
A quick google search using the words “freelance writer rates” will give you a plethora of results on just how much money your other freelance writer friends may be making per job. While nothing is ever set in stone when it comes to “rates” always using market rates as leverage if a client comes back and says that your rates are too high.
Ask Your Clients About Their Budget
While not all clients will share with you just how much their budget is, always ask. It will show that you take your work seriously and that you’re not just chasing the next dollar.
Know How Long an Assignment Generally Takes Vs. How Long it Takes You
I am very thankful for the gift (because I do believe it is a gift) of being able to pump out written content in a matter of minutes. While I am thankful for the gift I have in many ways short changed myself when clients ask for my hourly rate simply because I know in most cases I can write a 500 word piece in 30 minutes if I’m being productive.
If you’re anything like me, when determining rates make sure you research how long it generally takes to write an assignment that way you know how many hours you should realistically be taking to complete an assignment and use it as leverage when billing clients.
Know How Much Money You Need to Make In Order to SURVIVE
THE FREELANCE STRUGGLE CAN BE A STRUGGLE SOMETIMES. Yes in all caps. I would be lying to you if I said freelance writing is ALWAYS easy because it’s not. It takes hard work and because it’s not always easy sometimes you have to consider how much money you need to survive when giving your client’s your rates. Don’t ever low ball yourself to a point that you put you and your family in a bad position when bills are due only because you didn’t want to seem “too expensive” for your client. Not all clients are created equal financially and not all clients are meant for you to take.
Ask Your Freelance Writing Friends
Over the last few months I am thankful to have met amazing freelancers who have been willing to exchange ideas and answers questions for me about freelance writing. If you ever want to know how much money others are charging for things, ask your freelance writer friends. They may be honest with you, they may not. Never hurts to ask. If you want my opinion? You can always follow me on twitter where I’m always happy to answer questions about freelance writing.