Why Your Writing Should Cost More Than You Think
How much should you charge for freelance writing?
I have had both positive and negative experiences when it comes to offers for writing.
There were clients that offered rates showing true appreciation for my work. And then there were those that made me doubt whether freelance writing was the right path for me at the moment.
Have you ever seen offers for writing so low that you wondered what kind of quality those clients expected from you?
This is not a matter of pride. This is also not a matter of getting something you haven’t or wouldn’t work for. This is just trying to get what you deserve as a professional writer.
Why you shouldn’t offer very low rates
There was a time when I was tempted to accept a very low rate for my writing. I needed the money anyway, and the little I could have received would somehow help put some food on the table.
But as I read the experiences of other writers, there was one valid reason that stood out for me and kept me from accepting such a low rate.
Here is the reason: more writers accepting very low rates would affect the general rate being paid to writers.
While I understand the financial condition of some clients that may have urged them to offer those rates, I should also be concerned with other writers like myself.
If more and more people would lower their rates, then sooner or later, we wouldn’t be paid what’s worth for our quality work.
The value of your work
To charge the appropriate rate for your writing, you should first appreciate the value of your work. How much time and effort do you think you’re putting into what you do?
You should also realize how your content would help the clients hiring you.
Would your writing attract more visitors for their web page? Would it help them sell their books? How many books do you think would they be able to sell because of your work? If you are hired to write valuable content for an application they’re developing, how much would that app earn in the future for your client?
Let’s talk about the real numbers
To have a more concrete idea of the value of your writing, you should look at real-life figures for comparison.
On my part, I can compare it to some articles I have written for clients where I get paid $0.06 per word on average. If you multiply it by 500 words, you would then get about $30. Now do the math and compute how long you think you could write 500 or 1,000 words.
The answer is that it depends. First of all, how difficult would the topic be? For some projects, it would only take you 30 minutes to write the article itself, and maybe another 30 to edit and submit it. But what about the research you would be doing? Think about SEO, keywords and researching for valid information you’d base writing on.
Upwork says that the average price per word for newbie freelance writers is $0.05-$0.10 per word and up to $1-$1.50 per word for advanced writers. Even if you’re just a beginner, you shouldn’t be charged so far below the average pay.
According to the U.S. Bureau of Labor Statistics, the annual average pay for writers is $73,150. This would have a rough estimate of $30 per hour.
Perhaps the only reason you could accept very low rates is when you totally have no experience and are just starting your portfolio. But even that should be temporary and only until you gain more confidence and skills.
What your work is costing you
You must remember that your work is costing you something. After all, you’re not working as an employee where the company pays for everything that you use as a writer. And what are these things you use?
You use a laptop or a computer that costs you something. Note that your laptop gets worn out in a few years and you need to buy one to continue your work. You’re also paying for the electricity you use while writing. For some people, they need to pay the rent.
Think about the other types of jobs you’re letting go because of your writing. How much would you have been paid per hour had you not left your day job?
Your opportunity costs
In accounting, opportunity cost is the value of something you did not get in exchange for something you preferred to get. An example is the one I mentioned about that day job you let go of in exchange for writing full-time.
Other examples are the other writing opportunities you did not have time to do because of accepting that writing project.
Here are some of the writing opportunities you could be losing:
-Writing that book and earning from it
How much would you have earned had you sold at least one book every day? How much would you have earned in a month’s time?
-Writing on Substack
When you write on Substack, other people can subscribe to you and pay a monthly subscription fee. Others set fees starting from $5 a month. How many subscribers would you have had monthly?
Blood, sweat and tears
Writing is not an easy job. It’s a task that demands your whole being and your masterpiece could cost you not only your physical but your mental energies.
You can’t just write and write and write without being exhausted along the way. Sooner or later, you’d get stressed and you won’t be able to write that much anymore.
Writing could also cost you your physical health because it demands being still and sitting in front of your computer the whole day. If you don’t get some exercise or other physical activities, it will take a toll on your health. How much then would you spend to heal later on if you get sick?
Final thoughts
Your writing costs you more than you may ever think. It could cost you your physical health as well as your mind’s well-being. Burnout is not a far-fetched consequence if you neglect to take care of yourself and accept only the projects that could support you.
You are also letting go of many opportunities when you accept a certain client or project. Would accepting them at the rates given be worth it in the end?
We are on this journey together, and our journeys somehow touch upon one another. In the face of the many challenges posed by artificial intelligence, we can let other people see what our writing costs and what it’s truly worth.