How many times have you heard about all the poor, starving writers? Maybe it’s time to face the truth. Well, the truth is that not all writers are struggling to put a loaf of bread on the table. As I will show you, some writers are earning a very nice income indeed.
Before we look at the incomes of writers, let’s review how freelance writers earn their living. They write articles for magazines, newspapers and web sites. Some concentrate on copywriting or technical writing. And others specialize in writing resumes, short stories, poetry and greeting cards.
The pay that writers receive for their services varies quite widely, however, much more so than for other professions such as teaching or plumbing.
A recent survey conducted by the American Society of Journalists and Authors revealed some interested facts about the incomes of freelance journalists. The results took into account the responses of 473 freelance journalists who worked in United States and who considered freelancing to be their primary job.
Around 7% of these freelance journalists earned $100,000 or more. A further 24% earned between $50,000 and $100,000. And approximately 69% of these writers earned less than $50,000 a year.
The good news is that many of these writers are clearly not starving. And 7% of them reached the “six-figure writer” status. In fact, 3% of the freelance writers surveyed actually earned $150,000 or more!
The bad news is that many freelance writers are still earning less than $50,000 annually. If you are a writer reading this article and that also describes your situation, then here are some tips to increase your income towards that six-figure mark.
What Do You Write?
By changing the type of writing you do, you may be able to earn better rates for your work. One of the more lucrative areas of writing is copywriting. I know of a survey of copywriters that revealed that 39% of respondents earned between $50,000 and $100,000 a year, certainly a higher percentage than the 24% of writers above.
Other lucrative areas of writing include ghostwriting, working as a technical writer, and writing and selling your own ebooks and information products.
Discipline and Perseverance
It takes hard work to build any business, and a writing business is no exception. Plan your targets well in advance. Calculate how many hours you will work and what amount you need to earn per hour in order to achieve your targets. For example, in order to make $100,000 a year, you must earn an average of approximately $2,000 per week. If you are going to work 40 hour weeks, then you need to earn at least $50 for each hour of work in order to reach your target of $100,000 for the year.
Many people dream about being a full-time writer but don’t know they could make it a reality. Now you know it’s possible to earn a good income from freelance writing. You just need to get into it with your eyes wide open. Do some due diligence up front. Check out which areas of writing are likely to be better for you.
Now go for it. Write on!