WHAT DO FREELANCE COPYWRITERS EARN, AND ARE THEY HAPPY?
According to US Government statistics, 129,000 1 people in America earned their living from writing of all types in 2012, with around two thirds being self-employed.
But what do freelance writers, specifically freelance copywriters earn each year, and how much do they charge per hour? Until recently, it was notoriously difficult to find data but in 2012, Ed Gandia published his excellent Freelance Industry Report 2, a 70 page document that looked at demographics, earnings, habits and attitudes of a whole range of freelance occupations, including copywriting. In fact, around 40 per cent of respondents were freelance writers and editors.
But what do freelance writers, specifically freelance copywriters earn each year, and how much do they charge per hour? Until recently, it was notoriously difficult to find data but in 2012, Ed Gandia published his excellent Freelance Industry Report 2, a 70 page document that looked at demographics, earnings, habits and attitudes of a whole range of freelance occupations, including copywriting. In fact, around 40 per cent of respondents were freelance writers and editors.
How do freelancers charge?
Sixty per cent of freelancers quote a flat fee per project, thirty five per cent bill by the hour, four per cent on retainer, the remaining two per cent using other performance-based models (these figures are not exclusive to copywriting – they include other freelance professions, such as web designers, researchers etc).
How much do freelance copywriters charge?
While almost a quarter of freelance copywriters charge more than $100 an hour, one in twenty charges less than $19 an hour.
If we compare freelance copywriters with freelance web developers, the picture is very positive. Only 3.2% of web developers charge more than $100 an hour.
Billable rates by experience level
Obviously, there is a direct relationship between hourly rates and experience. Whilst we do not have figures for copywriters specifically, the report does as a whole suggests that:
- 21% of freelances with ten or more years’ experience fall into the $100 - $200 per hour range
- 10% of new freelancers are earning $100 per hour or more
- 42% who have been on their own for two years or less earn $70 or more
Beyond income - Top ten benefits of freelancing
25% of respondents cited Flexibility in work schedule
14.5% variety in projects
14% being my own boss
13.9% ability to work from anywhere
8.9% Making my own decisions
7.4% greater creative freedom
6.5% higher income potential
3.9% no office politics
2.6% no commute
1.6% variety of people you work with
Annual earnings
Hourly rates are all very well, but running your own business takes up a considerable amount of non-billable time, so what are the typical annual earnings bands for freelance copywriters?
Currently I have access only to information compiled in 2005 3 :
- 34% earned up to $50,000
- 39% earned between $50,001 and $100,000
- 9% earned between $1001 and $150,000
- 6% earned between $150,001 and $ 200,000
- 8% earned more than $200,000
I should have much more recent data shortly.
Hope you found that useful