How to Choose the Right Pricing Model for Your Freelance Writing Business
The pros and cons of different pricing models.
If you’re a writer-for-hire, you know that client pricing is remarkably opaque. Unless you know other freelance writers or do a lot of research, it’s hard to know how much to charge clients — especially if you’re just getting started.
Ernest Hemingway was paid $1 per word by a magazine in 1936, the equivalent of a whopping $22 per word in today’s dollars. Other than top authors commanding multi-million-dollar advances, I don’t know anyone being paid $22 per word today.
But what’s equally intriguing about Hemingway’s rate is the pricing structure: per word. When I first became a freelance writer a few years ago, more experienced writers urged me to charge per project. I also know writers who charge per hour and have seen job postings that list the same.
So what’s the best pricing structure? Per word, per project, or per hour? I’ve experimented with different pricing as a freelance content marketer and journalist and found that the most advantageous pricing comes down to how you work.
Charging per hour
I think charging by the hour is the least appealing for several reasons. It punishes fast writers: you’re…
