What’s on the iPod: The Graveyard Near the House by The Airborne Toxic Event
Good day yesterday. I finished an editing job and started two articles. These are ones with short deadlines, so I made sure to get those going first. Today I’ll arrange interviews for the next two articles. Hopefully one client will soon start feeding back some of the copy I provided him a few weeks ago. He’s promised to go over it this week.
I saw a great post over on Susan Johnston’s Urban Muse blog where poster Sarah Rexman takes on the topic of the raise. It got me thinking about how I’ve been able to raise my rates without the angst of telling clients about the raise.
I simply raise them for new clients.
That doesn’t mean the current clients get me at a different rate. In fact, many of my current clients were paying per-project rates, so I simply worked the small raise into those projects. I’m fortunate to work with clients who are used to paying a strong rate for contractors. My little raise didn’t make a single ripple in their ponds.
I decided in December that it was high time I had a raise. I hadn’t given myself one in three years and it was long overdue. That’s also when new clients started showing up, so it was easy to say “My hourly rate is $XXX.”
I lost just one prospective client who said flat out I was too expensive for them. That’s not so much a loss as a mismatch, in my opinion. It wasn’t a good fit for us both. Nothing more.
Back when I started writing, I used to get all clammy and nervous (almost apologetic) when I would state my rates. Actually, that’s too strong a word. I didn’t state anything. I nearly whispered my rates and then added quickly that it was negotiable.
Wrong. Rates are negotiable only when you feel like they are, not as a general rule. But we all live and learn.
So what happens when you get a raise?
Some clients won’t really care. It’s true. If you have a client who has never argued your rate and with whom you work very well, your small hike in rates won’t matter. And if you’re working higher up the food chain, chances are they’ll wonder why you bothered telling them.
The cheapskates will disappear. Before you think your world will come to an end if that cheap client who argues every invoice will go away with his wallet, remember this: for every cheap client you detract with your higher price, you’ll attract another client who will see you as a serious professional. Think of it this way — you wouldn’t hire someone to work in your company for $50 a week if the going rate for professionals in the same position is $4,000 a week. You want to be competitive.
You raise the bar. Now you’ll be working with people who are used to paying professionals. You’ll open yourself up to work for companies and clients who expect a higher rate from a contractor. It’s a super way to increase your value and get taken more seriously.
You start taking yourself more seriously. I remember back in the $35-an-hour days when I was doubting my abilities and fearing every deadline like I was writing with a noose around my neck. I didn’t take myself seriously enough to present myself as someone with value and skill. I attracted clients who thought pretty much the same thing — I was cheap and able to be pushed around. Now with the rates over $100 an hour, I know I’m worth it because I put my all into every project and I work to make sure the client’s needs are met and my own professional needs, as well. I take myself seriously, and that’s projected in every client communication. They agree by hiring me.
You meet earnings goals faster. When that starts happening, it’s time to increase your earnings goals.
When was your last raise? Do you think you’re working at the hourly rate you should be? What would it take to get you there?
9 responses to “The Writer and the Raise”
I'm in the process of doing that for teaching. The time/money ratio hasn't been working, and there are too many creative vampires out there, who want to drain a professional's creative energy without giving anything in return. Um, no.
We're midway through the year (already???) and it's a great time to access current rates.
I remember the first time I raised my rates. I was so afraid of losing clients – and I did. Yes, I panicked at first; but long story short, losing the cheaper clients made room for the better paying clients I eventually acquired.
Sadly, with feature writing the publications set their rates. While they usually start new writers at slightly less than their top rate, after you've reached their top rate there's not much you can do about it – other than seeking out magazines with higher rates. But when you're already working for magazines that pay near-top rates, opportunities for higher-paying markets plateaus.
This is why I'm trying to land more corporate gigs. Ghostwriting articles, blog posts, etc…at a higher price that you'd get from the magazine itself is right up my alley – finding companies that need me is my current challenge.
You're totally correct about the magazine rates, Paula. That is why I strive to have many different revenue streams. I really enjoy writing for magazines, but you need to balance that with higher paying clients.
Devon, I'm glad to hear you say that. You're worth more.
Kim, how did you do it exactly? I think I've only once told clients my rates were going up, and that was so long ago I don't even remember how I managed it.
Paula, you've hit on a freelancer truth — there comes a time when we become more valuable than the markets we're working with. That's not to say we can't still work for them, but I'd say limit that work while aiming higher.
Great point, Wade. Plus, it gives a certain amount of variety to keep things fresh. If I lived on just magazines, I'd have burned out ages ago.
That strategy has worked well for me, too, Lori – and I agree with Wade on diversifying. I also have one client in particular who pays adequately (rather than well) but who will allow me to scale up at will. That means that if a contract ends suddenly, i won't have to experience a shortfall.
Geeze, Lori, you got a raise… does that mean you're buying the next round?
I usually don't quote my hourly, but go for a flat fee. Sometimes I'll say "I base my flat fee on my hourly which is $xxx."
I actually quit most magazine writing just because the pay is static… now I reserve that for projects I just love.
What a nice client, Sharon! That's fantastic. I'd love to hear more about how that works.
Anne, our next Pepsis are on me. 🙂
I quote hourly for the corporate clients when they ask specifically. Like you, I do the flat fee whenever possible. It just saves a lot of clock-watching.