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What is a Freelance Writers Time Worth?
While there are only some charts that a freelance writer can look at to get an idea, there is no hard, fast rule as to what freelance writers should charge for their work.

It is up to the individual writer to determine what their writing is worth and not settle for less. At many sites that have job boards, many of the people looking for writers are offering amateur wages while wanting top quality. Freelance writers should avoid these jobs, and stick to their rates even in a recession. If the freelance writers do not value themselves, no one else will.

On many job boards, one can find numerous jobs with low pay and many bidders for these jobs. It is up to the individual, whether or not to bid. This freelance writer has certain rates, which he will not go below, and therefore turns down or doesn’t bid on jobs, and also feels that it is wrong to have to pay to find work. By paying to find work, should freelance writers have to purchase job lists, or purchase connects to be able to bid, or purchase some type of monthly subscription to be able to bid on higher priced projects at some job board site? This is wrong, yet there are freelance writers doing it to make money, although there are no guarantees of landing the job, so they are just out money and time.

Other job boards take a percentage of the freelancer’s earnings if they land a job. That leads to another question, payment for your work. Some sites require an escrow account, which helps the freelancer with payment. By using an escrow account, the money well be held in an account until the freelancer has completed the assignment, and the buyer is satisfied with the content, and then releases the funds to the freelancer. This does afford a pit of protection for the freelancer to make sure of receiving payment, although payment may not be as quick as the freelancer may think.

Anyone working as a freelancer needs to have a standard contract for all assignments, no matter how small. This is the only way to both parties to know what’s expected of them. Freelancers should also ask for a percentage of the total job up front. This is the only way for a freelancer to make sure they receive something for their time and effort.

If you are working with a magazine, is there a kill fee? Is there a contract? Freelancers need something in writing to cover themselves and their work.
Have You Set Your Rates as a Freelance Writer?

How do you go about setting rates for your work as a freelance writer?

First, where do you live and how much do you think your time is worth? Do you want to charge by the word, or by the project? Are your rates comparable to other writers?

These are things you need to check out and create a rate sheet so if someone asks you can offer them a price without having to say something like, “Let me get back to you”, which sounds like you don’t know what you’re doing. As a freelance writer, you need to know what you charge per writing assignment. Never forget that writing is a business and you as a freelance writer are a businessperson. If you work out of a home office, you are an entrepreneur. You should have both a business and a marketing plan for your business. Part of your plan is what to name the business. Some say not to use your real name, others say to. It is up to you what you want to name the business.

Second, even working out of your home may require some form of license from your city or county. This is part of doing business, and you will have to make sure you are within the law for an in-home business. You may think, I don’t need one, but you can get in trouble if you don’t at least check it out. You may figure, I don’t have people come to my home so who will know? Never assume that things will go unnoticed, it may cost you more than you think.

Third, as part of doing business is taxes. Seek the expertise of a tax professional and keep diligent records for tax time. At the minimum, a spreadsheet with income, and expenses for running your business you can give the tax professional.

All of this is part of your rates. The time taken for you to write and keep records, and whether you are full-time, part-time, just starting out, or well seasoned. This should be part of creating a rate chart for your business.

You can see some average rates at the Editorial Freelancers Association (EFA) by visiting them at http://www.the-efa.org/res/rates.php. The rates are rough guidelines and depend on many factors.
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