Welcome to the new chapter of your freelance writing career.
I don’t care if you’re reading this on January 2nd or October 22nd — every single day of your working life is as good as any to turn the corner on your freelancing. If you want to use the calendar as a jumping-off point, be my guest. Just don’t get stuck in the thinking that it’s the only time to change your freelance writing career.
And what’s the one change you should make in your freelancing life that you’re probably putting off? Let me guess:
Raising your rate.
I’m right, aren’t I? You’re sitting there getting a little nervous and maybe feeling a bit exposed at the thought of having to inform your writing clients that your rates are going up.
I’ve been there, too. I get it. However, that trepidation you’re feeling? You need to be getting over that right now.
Every year, the cost of things we buy or consume goes up. We complain sometimes. Other times, we don’t notice. If that favorite restaurant raised the price of your favorite dish by one or two bucks, you’re going look at it from a value perspective; sure, it just went from $12 to $14, but no one makes a risotto like this place. In the end, you’ll see the value and pay it.
Guess what? Your clients go through the same process when you raise your rates. Or, in most cases, they barely notice. That’s if you’re working with clients who understand that great writing requires higher rates.
Many years ago, Anne Wayman uttered the simplest, most bang-on wisdom I’ve ever benefitted from:
“To attract better clients, charge more.”
Absolutely, Anne.
Oh, you’ll lose some clients. Some might even argue that you’re too expensive. It’s a shame to lose a client, but some clients are just never paying you what you’re worth. They don’t appreciate the value, or their budgets are ridiculously low and they simply can’t.
The latter client — you can decide if the relationship is strong enough for you to continue at your old rate. Sometimes a client’s projects are worth hanging on to, especially if there is ongoing work and the potential for special projects.
That’s your choice. Not mine.
Getting back to rates, how do you raise your rate? Here’s the easiest plan ever:
Just raise them.
Okay, you want more.
- Decide how much you want to make
- Raise your rate to that amount
- Send the following note to clients: “Dear …: Just a quick note to let you know my per-word rate is increasing at the end of this month to $X.YZ”
That’s it.
Notice that the note to the client states a per-word rate. There’s a reason for that. When you’re first starting in freelance writing, you opt for an hourly rate. Understandable. Hourly is just easier sometimes. Except when it becomes a penalty. If you’re charging per hour, you could be underselling your expertise. This post explains how per-word can be more equitable for you and more transparent for your client.
But Lori: How much should I charge?
That’s on you, friend. I don’t know your needs, your clients, or your specialty. I wouldn’t work for under $100 an hour or $1.00 a word myself (and those are my minimums), but I’m working in a specialized industry and I’m bringing 23 years of experience in that industry to the table. If you write about technology and have been for five years, for example, you too should be commanding a higher price.
Still in doubt about what to charge?
Ask a fellow writer.
Yes, you can ask me. We can have a conversation in email or on the phone. Or you can take to the forums and seek out those writers who are running successful writing businesses.
Pay attention to those who aren’t bragging incessantly about making six-figure incomes and those who aren’t bitching about being out of work/freelancing being dead. (There are some issues on both ends of that spectrum.) Stick with writer who understand how to attract and nurture client relationships and how to charge like they’re worth it
They are. So are you.
Writers, how long should you go between rate increases?
Do you charge hourly, per word, or per project? Why?
Side question: Serial comma or no?
6 responses to “Freelance Game Plan: Your 2024 Freelance Writing Rate”
Answering the side question first: Oxford comma for the win!
The bulk o fly work is writing for periodicals, which are notorious for setting rates and anyone who wants to write for them can accept or reject rates. But there is wiggle room.
In December I told a new editor at a place I’ve written for regularly for over 25 years that the rates he was offering were below my “get out of bed” minimum. He said “but they’re shorter,” I said, “And it takes more skill and more time, not less, to cut things down to the size you want.” He agreed that my experience deserved more, so he bumped up the rate and then assigned me several more things at the higher rate.
Also in December, I noticed one editor from a publication I’ve contributed to for at least 20 years was paying 75-cents/word when they other editors were paying me $1/word. I asked why he paid less – and he conferred with his fellow editors, realized he’d underpriced me, and bumped me up to $1/word. Then he immediately assigned a new piece.
YES. I love an Oxford comma fan!
Paula, great advice. It pays to push back a little. In some cases it won’t work, but it’s true that a number of pubs do have that wiggle room you speak of. I found it on a few occasions. 🙂
It might not work if you’re only contributed a few pieces, or if you’ve only worked with a client for a year or so, but 20+ years of quality work usually means they’ll at least listen and consider your request.
Very true. Or if those few articles were amazing. 😉
Yes, I’m in the process of raising my rates this year. Long overdue. There’s one agency I work with where I can’t, but everywhere else, it’s going up.
Good for you, Devon! Well-deserved, for sure.