In deciding on what your rate is going to be, I find that there are four ways to measure your rate if you’re a freelance writer: By the word, by the page, by the hour, and by the project. (I’m sure that I’ll think of a few more as soon as I post this but let’s assume that these are the main ones).

Each one of these rates has positive and negative aspects that you need to be aware of when you quote your rate to your clients.

By the word: This rate is inspired by the magazine industry but has crossed over into the world of web writing because sites have imposed minimum word counts or because clients have a certain idea about how long something should be. By the word rates are good because the more you write, the more you earn. But that can also be the negative side of the situation, too, if a client thinks that you are being too wordy. If you charge by the word:

  • Remind clients that this is standard operating procedure in magazines.
  • Decide if you are going to base your per word rate on the first draft or the finished draft.
  • Prove that you don’t pad your content.

By the page: By the page tends to be the rate for larger works (I’ll often quote by the word for projects under 3 or 4 pages but by the page for projects over 5 pages). By the page is good for a similar reason to a by the word rate: Bigger projects pay you more. The problem is, you need to decide what constitutes “a page”. I got hosed in exactly this situation by an unscrupulous client really early in my career, and I won’t let it happen again. If you charge by the page:

  • Detail the average number of words and the margins and line spacing you’ll use.
  • Prove that you don’t pad your content.

By the hour: I find that by-the-hour rates tend to be preferred by larger organizations and companies that are used to dealing with a lot of consultants. By the hour is good for you because it appreciates that you get paid for more than just putting words on the page. It recognizes that there is value in your preparation and brainstorming and proofreading. Unfortunately, the shadow-side of this rate is that clients may wonder if you’re actually spending the full hour on this. They’ll wonder if you also answered email or checked Twitter or went to the bathroom. If you charge by the hour:

  • Highlight that you measure to the minute or to the quarter-hour (if that’s what you do).
  • Take detailed notes to give clients an account of what you did during each hour.

By the project: This one is the most difficult rate to give when you’re first starting out because you don’t always know how much a project might end up being. By the project is good for you because then you can incorporate payment that compensates you for more than just writing but also for the brainstorming and proofreading that you do. But on the flip-side, I’ve found that some clients prefer to have an “a la carte” pricing because they may not want to commit a large amount of money to something. If you charge by the project:

  • Make it clear how the project is worth the price you’ve set.
  • Be prepared with adjusted pricing in case a client wants to change the project mid-stream.

No matter which of these options you choose, the bottom line for positioning the type of rate you’ve chosen is to demonstrate value. Show the client why it’s worth spending that money on you. And if they are hesitant and focusing on one of those “shadow-sides” of the rate (i.e. if they are worried that you will pad your work or the minutes you’ve spent) then offer to start out on a small project and work your way up from there.