How to Set Fees for Your Writing

One of the most intimidating part of applying for freelance writing jobs is being asked to name your own price. I truly dread being asked for such simple information. If I ask more than they expect, will they choose someone else? If I ask too little, will they think I do not have confidence or do not value my own work? There are a few tidbits of information that every writer should be aware of when being asked such a tricky question.

Instructions

Difficulty: Moderately Challenging

Things You’ll Need:

• Writer's magazines
• Computer

1. Research--this is the best way to determine your rates. Many publishers will choose your pay for you, however, if they ask you for your rate, you should be prepared to give one. If you know other writers who are paid for their work, begin by asking them what they charge for what types of work and why.
2. Familiarize yourself with different pay rates. Will you charge per word or per piece? This will vary based on whether you are writing an article, book, story or review. Some writers accept pay in trade such as getting to keep the music or books they review.
3. Read up in writers' magazines about pay rates. There are general industry standards that can serve as good guidelines for you. Many writers choose to charge 10 cents per word. However you should consider how much work goes in to the pre-writing process. If this job requires a lot of research, you may want to adjust this rate. Many magazines and newspapers pay per piece not per word, so familiarize yourself as best as possible with the publisher trying to work with you.
4. Look up similar publishers and read up on their writers guidelines if you are still very unsure about what rate to quote. What do they pay? You can use their fees as a negotiating step.
5. Make sure to mention whether or not you are flexible in your fees. This way, a publisher can make a decision about going with you or not. They may make a firm yes or no decision, or choose to negotiate with you based on their current budget or needs.

Tips & Warnings

• Do not drastically overcharge unless your notoriety can back up your rates.
• Do not drastically undercharge or do too much free work. Freelancing does not mean doing work for free. You must show that you value your work enough to charge.