What Do You Need To Know About A Freelance Copywriter’s Day Rate?
There are several things to consider when you’re first starting out as a freelance copywriter and trying to set a fair and competitive day rate for your services. It can be a complicated process and might take a few adjustments as you go on. Here is what you need to know:
Should You Charge By the Project or By the Hour?
As an independent service provider you can choose to either charge per project or by the hour. Most prefer to charge per project because actual time spent on a single project can vary as moments of inspiration or writer’s block can occur almost whimsically. However, many clients prefer to pay by the hour and ask that you estimate how long it will take you. So it’s a good idea to set a minimum hourly rate anyways so that you open up your opportunities for more projects.
Find Day Rate’s from Past Employers
If you have had experience as a copywriter for an employer then it’s a good idea to use your past rate as a jumping off point. Your employed day rate is generally a small fraction of what your true earnings should be, especially if you have ample experience. But you should also consider overhead costs that don’t appear in this rate. For instance, a prior employer also paid for your office, equipment, insurance costs, etc. Since you will now assume these costs you should consider a slight increase starting from this prior rate.
Use Your Daily Rate Research
Once you’ve come up with a solid estimate on a daily rate, you should parlay that into a per project rate scale. Think about the types of projects you want to work on and how long you plan on working per day. Generally, most copywriters will work about 8 to 10 hours. If you plan on working on two project s per day, then take your daily rate and divide it by two, now you have a solid per project rate to start from.
Freelance Copywriter’s Rate When You’re Just Starting
If you don’t have any experience as a copywriter or you can’t get a hold of your past wages, you’ll have to start from scratch. In this case, you should research what other freelancers are charging for their services. Consider that some will likely have full portfolios which allows them to charge a little more than someone who is just starting out. If you’re new to this type of work then you should aim for the bottom range.