New freelance writers often wonder how to charge for their
writing. Writers want to make sure that they get paid fairly
for the effort they have put in. In the short term, writers
may work for very little while they are getting established.
But in the long term, writers who don't earn a fair wage will
not be able to freelance for long. There are three questions
that freelance writers should ask themselves when deciding
what hourly rate they should set.
What Do I Want To Earn For Writing?
Some writers write in their spare time and have full time
jobs elsewhere. These writers may not need to earn as much as
those who rely on writing for their income. Whatever their
situation, writers should consider how much money they need to
earn to eat, pay the bills and maybe have a little fun from
time to time. It's nice to think that you can catch a movie or
go to a gig once in a while.
Writers also need to think about the taxman. Depending on
where writers live, any where from 22% to 35% or more (if
you're really successful) will be gobbled up by the
government. For example, in the UK, tax and National Insurance
takes over 30% of your income (after allowances). So writers
need to add this figure to the amount they want to earn.
How Much Writing Will I Do?
Full-time freelance writers will spend the equivalent of a
working week on writing. That's more than 2,000 hours a year.
However, take out all the time you spend making cups of
coffee, filing, blogging as well as sick days and holidays and
there will probably be about 1800 hours left.
Writers also need to think about the cost of consumables.
Pens, paper and print cartridges all cost money and this
should be added to what writers want to earn.
What's My Hourly Rate?
Once writers have calculated the number of hours they will
work and the full amount they need to earn, working out an
hourly rate is simple. Just divide the amount you need to earn
by the number of hours you plan to work, and you've got a your
hourly rate. Once writers have worked out what they need to
earn, they have a figure to aim for.
One last thing. Even after setting an hourly rate,
freelance writers need to be prepared to work for less
occasionally. The freelance writing market is competitive and
sometimes it is better to eat than to stand on principle.
Writers always have to decide whether it is worth some short
term swallowing of pride for the long term gain of having a
better portfolio. Once writers have a good portfolio, they'll
stand a better chance of getting the hourly rate they deserve.
