Whether you sign a ghostwriter contract for a printed novel or write website content for local businesses, you expect to receive a fair wage. Maybe you’re satisfied with the rates you receive. More likely, you crave a bigger paycheck. Consider implementing a rate increase as one of your New Year’s resolutions.
Should I Raise My Rates?
If you already make a comfortable living as a writer, receive a fair freelance rate for your work or write at a discount for non-profit organizations, you may not need to raise your rates. Most freelance writers, however, work at rates far below their worth, and they benefit from a wage increase.
By raising your rates, you earn more than rent money and coffee cash. You gain improved productivity and peace. Resentment is common when your clients pay only a penny per word or require labor-intensive articles that average a $5 per hour pay rate. By charging what you’re worth, you reduce resentment that hinders productivity. Enjoy your job as a freelance writer and earn a fair wage when you raise your rates.
What Should I Charge?
Writers like me may think, “Anyone can write web content. I don’t deserve a raise.” Think again. You’re a better and more experienced writer today than you were a year ago. Give yourself a gift, and charge what you’re worth.
Knowing how much to charge is one freelance writing mystery. Consider polling other writers with similar experience levels and then decide on a fair wage. The rate you choose reflects your expertise and value to clients as it meets your freelancing expenses.
How Do I Tell My Clients About the Rate Increase?
No one enjoys asking for money. Consider your clients, though. You want to be fair to them. Hiding a rate increase until you send an invoice is unprofessional, and it could void a contract or earn you a spot on the client’s blacklist.
Instead, share your rate increase with clients as soon as possible. Draft an email or letter that outlines the increase. Send it to each client then follow up with a phone call or email. Express your appreciation for their business, and remind them of your availability of ongoing projects. If they decide to hire someone else who charges lower rates, count your blessings. Clients who accept your new rate both value your time and make your job easier throughout the new year.
Will Higher Rates Turn Off New Clients?
You’re an expert in your field, and you work hard to market your services to new clients. By setting a higher rate at the beginning of the year, you reduce the stress of choosing a rate for each new client who wants to work with you. You also remain professionally competitive and financially secure as your business grows.
Are you ready to improve your financial footing? Raise your freelance writing rates! When you charge what you’re worth, you are set to accept writing projects and work productively throughout the New Year.
Jennifer T is a freelance writer available on WriterAccess, a marketplace where clients and expert writers connect for assignments.