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Ghostwriting is just one of the ways to make money writing online. Is it worth your time? How much do ghostwriters make?
When it comes to writing only, you need to make sure it’s going to be worth your time and effort. That means looking into the earning potential of the various ways to make money. Ghostwriting is just one of them, which involves writing for private clients without a byline. You’re a writer without others realizing it.
The lack of a byline can be frustrating for some writers. For others, it’s just part of the process of being a writer, and we do tend to charge more for writing without a byline than writing with one due to the way we can use the content afterward.
Now you just need to make sure this is a way to make money online. You need to make sure it’s worth your time and effort.
How much do ghostwriters make?
There isn’t a hard and fast rule when it comes how much you can make as a ghostwriter. The benefit of being a freelance writer is that you get to set your own rates. Not all clients will want to pay those rates, but that just means they’re not the right clients for you. There are clients out there who will pay your rates.
With this in mind, you get to say how much you make as a ghostwriter.
You don’t even have to charge the same rate for all clients. If you have a client that is difficult to work with, you can charge more. If it’s a project that you know will take longer to write, you can charge more than you would for simpler projects. The choice is up to you.
How much can you charge as a ghostwriter?
When it comes to answer the question “how much do ghostwriters make?” you’ll need to look into the amount others are charging for their content. This will give you an idea of how much to charge for yours.
Now remember, you are not others. You’ve not necessarily going to charge a premium rate that ghostwriters who have been in the business for 15+ years charge. You don’t have the experience or the reputation that they do. But that doesn’t mean you have to charge peanuts.
Pay per word is the usual way ghostwriters charge for their content. This can be something like 10c per word to get started, which means $50 for a 500-word article. This is even on the smaller side for a gig. Most writers will tell you not to get paid less than $100 for a 500-word article.
If you decide to set your rate per project, you’ll want to think about how much you want to make per hour and how long it will take to do a project. While you may think in terms of minimum wage, especially if you’re just starting out, you’ll want to get out of that way of thinking immediately. Remember, you’re no longer an employee and have your own taxes and business expenses to pay. You need to charge more.
It’s not unheard of to charge $30 to $35 per hour just to start. You can make $100 to even $200 per hour depending on the project and the client. (And depending on how comfortable you are to get that rate. Get comfortable asking for it!).
If you set a rate, it doesn’t mean you’ll always need to stick to it. You can set terms in contracts (yes, have a contract) to revisit the rate. This is good to do every 90 days. If you’re not willing to do it every quarter, make sure you do it every year at the very least!
You can make a living ghostwriting. Now you have an answer to “how much do ghostwriters make?” you can start looking at setting your rate to make sure you make a living. This isn’t about survival, but about succeeding in business. The aim is to get retainer clients all paying a good amount (that is up to you) so you can pay bills, enjoy your life, and save for the future.
How much could you make ghostwriting? There is no glass ceiling.
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