Are you asking yourself the question: how much should I pay a freelance writer? In today’s digital world, content is king, and most passive income streams rely on good written content to succeed. That is why you will need the services of a professional writer or blogger.
So, check out this helpful guide and find out how much of your budget you should allocate to hiring a freelance writer.
Flat Rate, Pay Per Post, and Hourly Payment
When browsing for freelance writers, you will come across all sorts of offers that might seem peculiar at first. The prices can vary widely and the offers themselves are sometimes confusing.
Expert writers sell their services on platforms like Upwork for as much as $1 USD per work or more, while non-native speakers may offer to write entire 500-word articles for as little as $5 USD on Fiverr and other online marketplaces.
You can generally hire freelance writers under three general payment schemes:
- Flat rates, or per-word rate
- Payment per post
- Hourly payment
Hourly payment is generally the least cost-effective, especially when working with multiple freelancers. It also requires either third-party software, or a lot of trust to track.
Payment per post represents a fixed cost regardless of how many words are in a particular article or blog post.
Flat rates, or per-word rates, are the most common. With this payment scheme, you know exactly how much you are going to pay.
The Cost of Expertise
Entry-level writers charge as little as $0.01 USD per word. That is, one cent for every word they write. This is remarkably cheap, but comes with its own risk. Many of these writers are non-native speakers and the content they produce is generally poor.
Professional writers with 10 or more years of expertise typically charge $0.5 to $1 USD per word. This means that a typical 500-word blog post could set you back a few hundred dollars. The cost is considerable, but you are paying for original content written by experts.
Some of the more complex articles that cost thousands of dollars require weeks of research, but they have the potential to establish your company as an authority in your field.
When you work for a long time with a particular author, you might wish to consider a more permanent contract with them. If you don’t mind working with different writers, then hiring freelancers is ideal.
If you wish to engage a particular writer on a more permanent basis, you will probably need to hire them formally and issue monthly paychecks and pay stubs.
How Much Should I Pay a Freelance Writer? Now You Know!
Now that we’ve answered the question: “how much should I pay a freelance writer”, you know how to hire talent for all your content needs. This is a crucial step when planning your passive income strategy, and we are here to help you every step of the way.
So, come on in and explore how you can leverage modern technology and new trends to build your own passive income stream!