Unfortunately, there is no quick and easy way to determine this because the cost of your project(s) will depend on many factors. But you can get the ball rolling by asking yourself two questions:
What level of quality and skill do you need from an editor?
How many rounds of review will your project(s) require?
To answer the first question, consider the comparison of Walmart versus Nordstrom. If you need to quickly find a pair of pants for a low price but top-tier quality, customized service, and attention to detail are not all that important, you’ll likely shop at Walmart.
However, if you are willing to take your time and spend more money to get name-brand pants along with best-in-class service, you’ll probably go to Nordstrom. Shopping at either store isn’t right or wrong, good or bad—the choice depends on what you need and want.Â
Similarly, some freelancers on marketplaces like Fiverr and Upwork may offer rates as low as $10 per hour while a talent agency might charge $125 per hour for editing services. If your project needs Nordstrom-level work, go with the agency; if you’re OK with the Walmart basics, the Upwork editor is probably fine.
Just know that it’s very unlikely you’ll get high quality and low cost or high quality and speed. Also, please keep in mind that, like any self-employed professional, an editor must set her rates not only to pay for her expertise but also to cover the costs of her healthcare insurance, computer software, office supplies, credit card processing fees, business license, and more.
To answer the second question, remember that editing is a layered process. Most manuscripts will need more than one type of editing and at least two rounds per type. Keep in mind that most resources online only tell you the cost of editing for one type or one round, meaning the total cost for all services is quite a bit higher. This is especially true if your project is lengthy.Â
In my experience, the Editorial Freelancers Association (EFA) provides the most accurate information on professional editorial rates, so I have based my rates on those.Â
When determining the total cost of your project(s), I will factor in the nature of the work, the timeline of the assignment, the degree of special expertise required, the subject matter, and other considerations. However, I will provide you an estimate before we begin a project, and we can make adjustments from there.
Also, there are quite a few ways you can reduce the cost of editing with a little extra work on your end. Check out my Money-Saving Tips to learn more.