How much should I charge?
Setting a price on an editing job can be tricky – is a low price better value for money than a higher price, or should the experience and reputation of the editor be taken into account?
Experienced editors who are good at what they do tend to know the value of their own work, and have no such qualms – if a quote is refused on the basis of price alone, there is always more work around the corner from someone who is willing to pay a fair price for good work.
Beginning freelance editors can have trouble finding a balance between undercharging and pricing themselves out of a job. Charges need to cover the costs of running a business (such as insurance, professional development, rent, and equipment and software) and the cost of living (such as a mortgage, food, clothing and other essentials). It is well worth seeking advice from relevant professionals, such as an accountant, to make sure you run your business legally and profitably.
Editor Pamela Hewitt surveys editors regularly, and includes some comments about pricing in her report.