![]() ![]() Since your standard (or minimum required) hourly rate is $75, you know this is not a profitable assignment for you. What would your hourly rate be for that assignment? Only $46 and change. You suspect that it will take 8 hours, since there is only one interview to be done. That might sound too low for the work to be done, so you run an hourly calculation. Let’s look at a different project where, for example, you’re being offered $.25/word to write a 1,500-word thought leadership piece. In this case, you would, though the per-word rate might be more advantageous.Ĭomparing the two rates is important because it can let you know when a project could be profitable and when it would not. Only you can decide which approach to take, but you want to try to confirm that you will at least earn your standard hourly rate for the work. If you bill on an hourly basis and your hourly rate is $75, the corresponding rate should be $4,500.Īnd if you quoted on a per-word rate of, say, $.50/word, your quote should be $7,500. It’s often useful to calculate a ghostwriting project both based on your standard hourly rate and compare that to the per-word rate, to see if you can make money.įor example, if you’ve been asked to write a 15,000-word ebook that you think will take 60 hours to draft, compare your two calculations. ![]() And that’s work you’re not being paid extra to do, whereas when you’re working per-hour, you likely don’t care how many rounds of revisions the client wants, since you’re being paid. You can draft a magnificent article, let’s say, but the client may decide that editing is required. The only potential problem with a per-word rate comes in with respect to editing and scope creep. (How much time it took you is not part of the equation as far as your client is concerned.) Per-word quoting is advantageous because the more words you produce, the more you earn. The advantage of quoting a ghostwriting project based on a set per-word fee is that the math is easy. At least.īut even if you don’t provide price quotes based on an hourly rate, you should determine your own hourly rate to be used in calculating fees, and use that as a reference point.Īnother approach to quoting ghostwriting work is on a per-word basis. My personal opinion is that ghostwriters should be charging at least $50/hour. However, if you are a fast writer, you will likely earn less than you could have if you used other methods of quoting.īefore you go quoting on an hourly basis, make sure your hourly ghostwriting rate is significant enough to cover all of your expenses, taxes, and profit. By billing based on actual time spent on the work, you’re assured of being paid for all of the time you invest, which is good. ![]() Quoting a ghostwriting project based on an hourly rate can be smart if you don’t know how long a task will take. However, you might check their guidelines out as one reference point.) (The Editorial Freelancers Association (EFA) has a rate sheet that does include ghostwriting, but the rates cited I think are low. The three general ways to calculate a fee are: per-hour, per-word, and per project. Instead, keep it as simple as possible in order to ensure your work is profitable.īefore you quote a number, however, you should run through some multiplication and division. Giving tons of detail only opens the door to attempted negotiation on those points, which only complicates the process and your fee. Don’t give them room to ask you to justify why you estimate one type of task will take 30 hours and something else 16. Or don’t share your calculations and considerations with them. And they probably don’t expect you to break down your cost estimate in excruciating detail.Įven if they do expect it, don’t provide it. They may be curious about your thought process or calculations, but they don’t need to know the intricate details. How, exactly, you came up with that number is not as big a deal to them, honestly. That way, they can determine if their budget is large enough to cover your fee or not. When a client asks how much it will cost to have their book ghostwritten, they want a number. These are the frequently-asked questions.Īnd the best answer is to quote and structure payments in the simplest way possible for the client at a rate that is profitable for you. What’s fair? What’s the going rate? How should I structure payments? One of the most common discussions we have as ghostwriters has to do with how to figure out what to charge for ghostwriting services. ![]()
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