Money. It’s a difficult subject. But come on, let’s get into it.
Imagine you’re in need of a Developmental Edit (someone to review your structure, narrative, character development, and more) for your 80k word novel. You reach out to an editor (or more than one!)…
What can you expect in terms of cost?
Based on various factors, you should expect a range between*:
$2200/£1650 . . . . . . . . . . . . . . . . . . . . $3160/£2360
(Disclaimer: there will, of course, be instances that go lower and higher.) *Based on EFA and Reedsy standard rates
What are the factors that impact this?
- Experience (someone more experienced will likely charge more)
- Time in business (someone with a newer business may offer lower rates while they gather testimonials)
- Complexity (if your work is complex, it may take longer)
What does it include?
Well, that depends too. Editors offer different services. For example, I offer a ‘Live Developmental Edit’. That means, in my Dev Edit package, I charge £0.020 per word, provide a workbook, in-text notes, an editing summary, and include 9 hours of coaching time to go through the edits. Some editors charge more per word and offer a report, so you might find that though we cost the same for a project, we provide different styles of feedback.
How are these costs figured out?
Editors charge differently. Here’s the average:
$0.028-$0.040/£0.021-£0.030 – per word
$50.00–$60.00/£37-£45 – per hour
$7.50–$10.00/£5.50-£7.50 – per page
Why is it so expensive?
Yes, hiring an editor can be expensive. Here are some of the reasons why:
- The task is demanding, and as editing takes such intense focus, we can only spend a limited amount of time a day on it. It also requires time to think about the issues and the best step forward.
- It requires specialist knowledge. For example, I studied in higher education for 8 years and have worked in this field for over 10 years. Experience costs money.
- Most editors are running a small business. That means that there are lots of costs involved, including tax, office equipment, and bills to run them, websites, training, marketing, memberships, and much more. There’s also the stuff outside of that, like food and family responsibilities.
Anything else?
- Most editors offer payment plans, so don’t be afraid to ask.
- Be prepared to put down a deposit to ‘save your spot’!
- Contact an editor well ahead of time, as we book up far in advance.
At the start of this year, I raised my prices in line with my expertise and experience. Still, I’m not near the top regarding charging per word, etc., but I am comfortable with my current rates. Between 2020 and 2024, I was charging below industry average. This often happens when someone starts a new business, as you need those all important testimonials and gaining a client base. I’m sharing this information for two reasons:
1: If you are looking at this slideshow and worrying that you won’t find someone within your budget, look around. You may find someone (like me over the last few years) who is qualified and experienced but working for a lower rate for a period of time to grow their new business.
2: To share an awareness of the industry pricing standard and what goes into it so that you can make more informed decisions in your search for an editor.
I hope this has been helpful!
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