I’m sure I’ve mentioned in other blogs that I (Andrea) do a lot of interviewing for one of my YGF clients. And I mean a lot. A few months ago I interviewed 49 potential candidates for a writer/editor position. (And that wasn’t even all of the applicants!) The most interesting thing I found in doing these interviews (along with all the others I’ve done over the past couple of years) is that people really have no idea what they’re worth.
So many of these candidates either were overvaluing themselves or completely undervaluing themselves. The average candidate was offering a 500 word blog for $50. Some were $5-$10 above or below that. But generally $50. Okay, great. We have our baseline.
But then, there are the people that are so far out there you just can’t help but wonder what they’re thinking about. On the very low end, someone offered up $6 for that 500 word blog. SIX DOLLARS. Now, I don’t know how long Frankie takes to write her blogs, but for me, it could take an hour or 90 minutes, depending on how my brain is working. That means I’m making $3-$6 per hour. Heck, I could go flip burgers or work at my local grocery store for $10! That candidate had no idea what she was getting herself into.
If you want to do a job, learn how to do it, know how long it takes to do it, and then price yourself accordingly.
On the high end, there was the person who said she charged $800 for a 500 word blog. EIGHT HUNDRED DOLLARS. Let me tell you, if I could get pay $800 for writing one short blog, I’d do it in a heartbeat. And so would everyone I know. Because now my 60-90 minute blog means I’m making $400-$800 per hour. Woo hoo! This person completely overvalued herself because she didn’t understand her market and her potential employer.
Do your research.
Let’s say you wanted to be a blogger, and you saw that a writing company was hiring. You need to analyze two things before applying and offering a price.
When you sell a product, it’s a bit easier to figure out its value based on the cost of the tangible items you are using along with the time it takes to make the product. But when you’re just selling yourself, you need to be keenly aware of your value.
Too little, and you won’t be taken seriously or you’ll be taken advantage. Too much, and you won’t be taken seriously.
Struggling with how to price yourself? We’d love to hear your comments.
Frankie and Andrea take turns sharing stories. Just good talk over a cup of coffee.