Pricing yourself competitively
So, how much can you actually make as a freelance writer?
The short answer is: it depends.
As a rule of thumb, fledgling freelance writers without a lot of experience should be able to charge at least $0.10 a word (or $100 per 1000 words) for basic blog posts and web copy.
However, this rate can increase dramatically depending on the writing topic or the type of writing a freelancer is asked to create.
For instance, healthcare and digital marketing companies tend to have larger budgets and can pay freelancers anywhere from $0.15 to $0.30 a word ($150 or $300 per 1000 words)—and often much more.
Likewise, white papers, marketing emails, and video scripts go for much higher rates than short-form blog posts.
Keep in mind that you may be asked to quote an hourly rate, as opposed to a per project rate, especially if you accept copywriting assignments that don’t necessarily need a ton of words but do take time to research and edit.
In these cases, you’ll want to time yourself in advance and see how long it takes you on average to produce a comparable piece of work. You can then work out your hourly rate based on your per project rate.
(For instance, if it takes you two hours to produce a 1000-word blog article you’d normally charge $200 for, you know your hourly rate should be at least $100 per hour).
Other factors that influence your freelance writing rates include the cost of living in your area, your business expenses, and your work schedule.
Bear in mind that as time goes on, you’ll grow faster and more knowledgeable about the writing you produce on a regular basis. This should be reflected in your fee, and you should regularly increase your writing rates for both new and existing clients.
Remember: as a freelancer, you’re responsible for everything, including your income taxes, insurance, and personal expenses. All of this should affect the freelance rates you charge (or accept).