Publishing houses and digital printing companies have in-house editors. An editor’s job is not just given to anybody; there are specific skills only qualified individuals make it to this title. Some businesses would need to work with certain people who can do edits to particular materials. Most of the time, freelance editors are the best person to handle such small-scale editing gigs.
The question is, how much does a freelancer make? Is there an editor salary difference between those who work in-house and those who don’t?
Editors who work in-house usually get a higher salary. They are often given benefits, such as health insurance and paid vacation days. On the other hand, freelance editors get to choose their projects. They also get to keep a majority of the earnings from each project.
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What are the benefits of a freelance editor?
There are advantages and disadvantages to both types of editing positions, and these would depend on what the agent is looking for in a job.
Here are ten benefits of becoming a freelance editor:
You are your boss.
What probably tops the reason freelancing is a better job that you are your boss. You can choose which projects you want to work on and when you want to work on them.
There is no need to get someone’s permission. Of course, this also means that you are responsible for finding your clients and making sure that you meet their deadlines.
You can choose your projects.
In-house editors may have benefits at work. But those things do not come free. In return, of course, they have to say yes to everything.
Unlike those who work on their own time, they can also work on projects they prefer. Freelancers can say no.
They can always turn down the offer if they find a book editing offer or specific publishing is not at par with their values. However, they need to move to the next and be diligent in finding other offers.
This allows you to pick and choose based on your interests and skills. You can do that if you only want to work on editing fiction novels! You are not limited to the type of projects that you take on.
You can set your own hours.
Who wouldn’t want to work in their comfort? You do not have to wake up early to catch a bus. Freelance editors lavish on that advantage not to think of being late coming to an office.
You can also do that if you only want to work a few hours a week. Of course, you will need to be realistic about the amount of work you can take on if you only want to work part-time.
You can work from anywhere.
Another great benefit of freelancing is that you can work from anywhere. If you want to work from home, you can do that. Or, if you travel and work from different places around the world, you have the luxury to do so. All you need is a WIFI and a laptop handy to bring anywhere.
You are in control of your income.
As a freelance editor, you are in control of your income. You hold the decision on how much to charge per project and how many projects you want to take on. It is up to you to make much or as little money as you want.
You can build your own client base.
As a freelance editor, you can build your own client base. You can work with clients you enjoy working with and willing to pay what you deserve.
You can take on multiple clients.
Unlike an in-house editor, you can take on multiple clients as a freelance editor. What this does is that you can make sure that you always have work. Having diverse clients help you earn more, and if you are disciplined enough, you can sustain your income even during work downtime.
You can choose your editing style.
As a freelance editor, you get to choose your editing style. You can do that if you prefer a heavier edit with more comments. Or, if you prefer a lighter fix with fewer comments, you can do that as well! It’s up to you.
You can specialize in a certain type of editing.
As a freelance editor, you have the opportunity to specialize in a certain kind of editing. If you want to focus on copyediting, you can do that. Or, if you want to focus on proofreading, you can do that too! There are many different types of editing, so you can choose which one(s) you want to specialize in.
You can learn new skills.
As a freelance editor, you can learn new skills. You can do that if you want to learn how to use particular editing software. Or, if you’re going to know about different style guides, you can also do that! There are many other skills that you can learn as a freelance editor.
How to set a competitive freelance editor salary
To make a viable freelance editing fee, try to set a charge that, at the very least, covers the following costs:
Being a freelance editor does not mean being free of other obligations.
One of the top things you need to consider is your business expense, such as your home office utilities like electricity. Your internet and phone bills and other communications device that needs maintenance should also be accounted for.
Equipment and Maintenance Expenses
Because you are effectively running a freelancer business, additional factors include:
- Paying for MS Office applications.
- Setting up a home office.
- Joining networks for certification as an editor’s guild or association.
If you are sick, there is no such thing as sick pay.
Since an employer no longer covers you, you must pay taxes and health insurance to protect yourself should you become ill.
Making money is impossible if you are unable to work. As a freelance editor, you need to make an effort to save up for many months’ worth of living costs.
All in all, many benefits come with being a freelance editor. Freelancing offers much flexibility and freedom you wouldn’t have if you were working in-house. Of course, there are also some challenges that you need to be aware of, such as finding your clients and making sure that you meet their deadlines. But overall, freelancing is a great way to make a living as an editor!