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9 Signs It’s Time To Update Your Freelance Writing Rates (+ How To Do It)

Last updated
9
May
2024
min read

Has your freelance writing rate become outdated without you realizing it?

So much can affect what you charge for your writing — from your knowledge of particular subjects to the time you’ve spent as a freelancer to the type of writing you do — and just as many factors impact when your rate needs adjusting.

It’s a lot to keep track of, which is why we’ve put together this guide covering the nine most important signs that it’s time to adjust your freelance writing rate — and how to do it. We also provide a handy email template for sharing the news with your current clients.

Sign 1: You’re earning less than the market rate

In freelance writing, it’s essential that you’re paid at least as much as others with your level of experience and who write about the same topics.

While rates can vary widely, there are several places you can look to get a ballpark figure for what other writers charge. Check out sites like Glassdoor, resources like SmartBlogger’s Freelance Writing Rates Guide, and freelance writing forums like r/freelancewriters on Reddit to get the lay of the land.

If you discover you’re earning less than the average, it’s time to adjust what you charge.

Sign 2: You’ve gained more experience as a writer

You wouldn’t expect a novice chef to earn the same amount as those who run their own restaurants, right? The same goes for freelance writers: The more experience you have in your craft, the more you can charge.

We suggest updating your fees if you’ve put a year or more of writing experience under your belt since you set or last adjusted your rate.

Sign 3: You’ve built expertise in a particular field

Writers with specialized knowledge in a specific field can charge higher rates than generalist writers. This is especially true if the field is in high demand — e.g., technology, finance, cryptocurrency, digital marketing, artificial intelligence (AI), and education.

At Eleven, we consider writers to have expertise in their field if they have:

  • ✔️ A Bachelor’s degree or equivalent
  • ✔️ 3+ years of professional experience in their field; OR
  • ✔️ 3+ years of experience as a writer dedicated to their niche

Sign 4: You’re doing a new type of writing

Different writing types and formats require different levels of research, planning, and expertise — so it only makes sense to charge different rates for them.

This means you’ll want to adjust what you charge if you’ve branched out into new writing territory. This could mean increasing or decreasing your rate depending on the types of writing you do.

For example, you can charge more if you’ve started writing case studies or e-books, gotten into technical writing, or begun writing grants. These require extra research and precision — which means more time and effort on your part — and are often more lucrative for your clients. It’s only right that you charge a higher rate for them. 

On the other hand, if you’ve begun writing shorter pieces or more general content that’s quicker and easier to complete, you might consider lowering your rate slightly for these projects.

Sign 5: You’re offering additional services

Likewise, you’ll want to adjust your rate if you’ve expanded your original service offerings.

For example, maybe you now offer content strategy, SEO optimization, or graphic design services alongside your top-notch writing. 

These extras mean more value for your clients, which warrants a higher price tag.

Sign 6: You’re working on complex projects

You should get out what you put into your writing projects, so the more complex or high-profile they are, the higher your rate can be.

For instance, say a client has approached you about completing a series of market analysis reports. That would require careful data analysis, in-depth research, and expertise in the industry. It isn’t as simple as, say, writing a social media post, so your rate for it shouldn’t be the same, either.

Sign 7: You’re working on projects with short deadlines

Tight deadlines put pressure on you and might even disrupt your schedule if you have to write outside your regular working hours to get the job done. Your time and services are valuable, so it’s a good idea to charge a “rush rate” for projects with fast turnaround times.

How much extra you’ll charge depends on how soon the deadline is, the amount of work required, and whether you’ll need to press pause on other writing to make time for this project.

That said, many writers charge 25% more than their regular rate for 48-hour turnarounds and 50% more for 24-hour turnarounds. 

Sign 8: Your business expenses have gone up

As a freelancer, your writing is your business — and chances are that the cost of doing that business will creep up over time as you take on more work.

Expenses can include subscriptions for software (such as Grammarly or Adobe Creative Cloud), equipment (like a laptop and printer), internet and phone bills, professional development courses, website hosting fees, and more.

Of course, your clients shouldn’t necessarily shoulder all of your expenses. And there’s something to be said about reinvesting earnings into your business. But at the end of the day, your rate needs to be high enough to ensure you stay profitable.

(That’s why we recommend working backward when setting your freelance writing rate. Determine how much you need to earn per month and the time you can dedicate to writing, then reverse-engineer a rate that matches your financial needs and goals.)

So, be sure to monitor how much you spend on your freelance writing business and boost your rate enough to cover these costs.

Sign 9: You haven’t adjusted your rate in a while

Finally, we recommend you evaluate your rate each year. If your rate hasn’t changed, it’s time to consider increasing it.

A higher rate will reflect the experience and skills you’ve gained in a year. Plus, an annual review can help you keep up with inflation and the rising cost of living.

How to adjust your rate as a freelance writer

Knowing when to adjust your rate is essential — but it’s only half the story. You also need to know how to do it, especially since you’ll face these signs again and again throughout your freelance writing career.

Here are the three steps we advise you follow:

Step 1: Identify any changes that could impact your rate

Based on the signs we covered above, look into:

  • Changes in market rates
  • Changes in your writing experience
  • Changes in your expertise
  • Changes in the services you offer
  • Changes in the type(s) of writing you do
  • Changes in project scope, complexity, or urgency 
  • Changes in your business expenses
  • Cost of living in your area (Numbeo is a resource for this)
  • Inflation in your region (International Monetary Fund lists inflation rates by country)

Step 2: Update your rate based on the changes you’ve identified

This will look different for everyone, and there are too many scenarios to reasonably cover here, but here are some basic ways you can approach the process:

  • Adjusting based on market rate changes: Increase your rate to at least be in line with the market rate for writers with your level of experience who write about the topics you do.
  • Adjusting based on changes in experience and expertise: PayScale is a great resource for this. You can see how much money entry-level, early-career, intermediate, and experienced freelance writers make in the US — and filter these average rates by industry, too. You can increase your rate to be more in line with what others at your experience and expertise level charge.
  • Adjusting based on changes in services and the type(s) of writing you do: Research online to see what others are charging. For example, Get a Copywriter lists rates (in GBP) for various types of copywriting — of different lengths and at different experience levels. Understanding these benchmarks helps you adjust your pricing competitively.
  • Adjusting based on project scope, complexity, or urgency: Factor in the additional time and effort your projects now require. Increasing by 10-15% is a good rule of thumb for this! For projects with 24-hour turnarounds, it’s standard to charge 50% more than your usual rate. For 48-hour turnarounds, you can charge 25% more.
  • Adjusting based on changes in business expenses: You can work backward for this. Take the amount your monthly expenses have increased and divide it by the number of hours you work in a month or the number of words, pages, or projects you complete per month, depending on your rate type. 

For example:

$150 additional expenses per month ÷ 50 hours worked per month = $3. 

Add that figure to your current rate to cover your increased expenses — e.g., $42/hour (current rate) + $3 = $45/hour (new rate).

  • Adjusting based on cost of living and inflation changes: Use an inflation calculator to determine how much the rate of inflation has impacted your freelance writing rate. For example, say the annual inflation rate is 3% where you live and you currently charge $35/hour for your writing. That means you’ll need to increase your rate by 3% — to $36.05/hour — to maintain your purchasing power.

Step 3: Adjust for existing and new clients

Finally, you’ll want to tweak your new rate for your current clients and the ones you’ve yet to land.

We recommend adding 10% to your new rate for existing clients.

For example, say your old rate was $28/hour and you increase it to $30/hour. Increase that to $33/hour for existing clients. This gives you wiggle room for negotiations (which we’ll chat more about in a bit).

For new clients, we suggest adding 5% to your updated rate.

Using the above example, add 5% to $30/hour to get $31.50/hour. Quote this to your prospective clients, and continue bumping up your rate by the same amount (in this case, $1.50/hour) for each new client — e.g., $33/hour, $34.50/hour, $35/hour, etc. This approach helps you secure a steady boost in earnings with every new writing engagement.

How do I tell clients I’ve raised my freelance writing rate?

For prospective clients, it’s easy: Just quote them your new rate from the get-go.

For existing clients, it’s more involved. Let’s break it down. 

How to tell them

The easiest way to communicate your rate increase with existing clients is via email.

For clients you’re particularly close with, you might share the news over a phone or video call

When to tell them 

Just as important as not increasing your rate too much is not changing it without giving your clients advance notice.

Everyone has different ideas of what counts as “advance notice,” but we recommend at least 30 days for existing clients.

This allows them enough time to review their budgets and decide whether they can afford the new rate. It’s also beneficial for you, as you can use the time to look for new clients in case any existing ones choose to part ways with you.

Pro Tip

Consider how long you’ve worked with your clients. For example, if you signed with a client only a few months ago, you might want to hold off on a rate increase until at least the six-month mark. This gives you time to show the client how irreplaceable you are.

What to tell them

Whether you communicate the rate increase via email, phone call, etc., approach the discussion with transparency and empathy. Let them know you understand that rate adjustments can be challenging, and focus on explaining the benefits you provide them.

For instance, has your writing led to more website traffic or increased social media engagement? Have you consistently submitted work well before deadlines? Have you taken on research-heavy projects and completed them to a high standard? Highlighting these key achievements can help clients see you’re worth a higher price.

We know this conversation can feel nerve-wracking, so we’ve created an email template to guide you through it:

Subject line: Important Update Regarding Rates

Dear [Client’s Name],

I hope you are doing well.

I am reaching out today to let you know I am increasing my rates from [current rate] to [new rate]. The rate increase will take effect on [date].

In our time working together, I’ve strived to deliver high-quality results, such as [mention specific achievements like increased website traffic, meeting deadlines, etc.]. I am confident this rate adjustment reflects the value I bring to our projects.

If you have any questions or concerns or would like to discuss this further, please don’t hesitate to let me know. I am also available via [telephone, Zoom, etc. — list details of any alternative forms of communication].

Thank you for your understanding and partnership.

Best regards,
[Your Name]

What to do if an existing client pushes back

There’s always a chance your current clients will push back on rate increases, no matter how big or small. Some might even consider ending the partnership.

But this doesn’t mean you should panic or revert your rate.

Because you added 10% to your increased rate, you have room to negotiate with your clients!

You should also decide on a rate that you won’t go lower than. In most cases, this will be the rate you calculated before adding 10% for negotiation. But it can also be slightly lower than that to give some flexibility to clients you really love, etc. It’s unique to each person.

Now, if pushback does happen, you can either negotiate or part ways. This is a personal decision, and a lot goes into it.

Asking yourself these questions can help guide your decision:

  • Do you enjoy working with the client?
  • Do you believe the client values your work and skills?
  • Is the client a great addition to your portfolio?
  • Is the work easy/enjoyable/straightforward?
  • Do you see potential for long-term collaboration?
  • Does the client have a good reputation in the industry?

If you answer “yes” to most or all of these questions, it might be worth negotiating with the client. If not, you might consider ending your collaboration with the client.

Try taking these steps if you do decide to negotiate:

  • Meet in the middle first. Take 5% off the rate you quoted and see if the client can meet you there. Using our previous example, you could quote $31.50/hour instead of $33/hour. That’s still higher than the $30/hour rate you initially adjusted to!
  • If they can’t meet in the middle, quote your minimum acceptable rate. Let the client know that this is the lowest you can go. Perhaps they can match it.
  • If they still push back, suggest an alternative solution that might make your new rate more manageable for your clients — such as a gradual rate increase over a handful of months or a slightly discounted rate for bulk commissions. 

Some clients will still choose to end their partnership with you after negotiations. Losing a client can certainly feel scary, but the good news is that there are others out there who will be able and willing to pay your new rate. So, wrap up the collaboration on a positive note, and focus your energy on finding new clients.

Summary

Reviewing and refreshing your writing rate is key to ensuring you’re fairly compensated for the value you provide with your services. With this guide as a resource, you can spot the signs that your rate needs tweaking and approach the adjustment process without stress.

Remember to revisit your rate when you’ve gained experience as a writer, taken on complex projects, or started offering content services outside of writing — or if it’s been a while since your last rate adjustment. And don’t forget to add 10% for existing clients (to give room for negotiations) and 5% for new clients.

We recommend reassessing your rate each year, so be sure to bookmark this article and set a reminder for 2025.

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