For some people, freelance writing is a side-hustle to help complement their earnings every month. But for many, it’s a full-time profession that replaces their annual salary and gives them the freedom to work on their own terms. So, if you’re thinking about going freelance full-time, one of the big questions on your mind is probably “how much money can I make?” In this article, we’ll answer that question by looking at a typical freelance writing yearly income.
A freelance writer’s yearly income varies from person to person and depends on several factors. These include their rates and the hours they’re willing to work. In this article, we’ll look at some statistics to get an idea of how much a freelance writer makes in a year. But first, let’s take a look at the average annual income of a freelance writer.
Average Freelance Writer Yearly Income
Last year, around two million people reported being freelancers in the UK. So, the average freelance writing yearly income is going to vary greatly! According to SalaryExpert, freelance writers in the United Kingdom make on average £41,362 per year.
How Much Do Freelance Writers Make Per Year in the US?
Looking to the US, it’s estimated that 59 million people did some sort of freelance work in 2020. Just like in the UK, there’s a range of annual incomes for freelance writers in this group. According to PayScale, American freelance writers have an average base salary of $40,268 (around £29,000) per year. Per hour, they earn an average of $23.90 (about £17).
Now that we have an idea of the average yearly income for a freelance writer, let’s look at examples of how much some freelancers earn working on Fiverr.
Freelance Writer Yearly Income Examples
Emilina is a freelance writer in the health and fitness niche. She’s also in the top 1% of earners on Fiverr. She only became a full-time freelance writer a few years ago. Last year, she began making around $3,000 (about £2,200) consistently every month on Fiverr. So, on Fiverr alone, she brings in around $36,000 (about £26,200) every year.
Levi is a copywriter who began freelancing as a way to earn some extra money. But after six months, he realised that he could go full-time. In his first year of freelancing on Fiverr, Levi increased his monthly earnings from $800 (around £580) to $10,000 – $15,000 (£7,250 – £10,850). Levi brings in six figures annually just from freelance writing!
Alex made it to the news this year for increasing her earnings from $36,000 to $378,000 (about £280,000) a year, just by writing on Fiverr. Charging $1,000 for a 10,000-word e-book, she was recently able to buy a car in cash. Now she’s looking to buy her first house. And all as a result of her freelance writing career!
As you can see, you can earn a range of incomes as a freelance writer and the sky is really the limit! If you’re looking to maximise your annual earnings, there are a few factors that can increase your earning capacity.
Factors Affecting a Freelancer Writer’s Yearly Income
Some industries pay a lot better than others. Technical, financial, cryptocurrency, real estate, and medical writing are currently among the best-paying niches. For example, according to Indeed, a technical writer based in London brings in around £48,577 per year.
Freelancing allows you to work from wherever you want, but your location can influence your earning potential. For example, the average freelance writer makes £38,007 a year working in Liverpool. That figure increases to £41,438 if they work in Oxford. Compare this to a freelance writer from London, where the average freelance writing yearly income is £52,548.
In our article about freelance writing without a degree, we discussed that having a degree isn’t essential to becoming a successful freelance writer. However, good experience is. The more versed you are on a topic, the more you’ll be able to charge for it because clients see you as an expert and will pay you accordingly.
You need to ask yourself “How much do I want this?” because it’s the desire to be a successful freelance writer that’s going to keep you on the right path. It can be hard work at the start, but no one said freelance writing is easy! Focus on improving yourself as much as you can. Take online courses, learn SEO, practice different marketing techniques, and, most importantly, never stop writing.
It also helps to establish an earnings goal. You’re more likely to achieve that figure if you always keep it in your mind. It also keeps you motivated to put in the work.
Your Freelance Writing Yearly Income Is up to You!
How much you can earn as a freelance writer every year is ultimately up to you. The harder you’re willing to work, the bigger the payoff is. Don’t feel discouraged if you’re not making six figures within your first year – almost nobody does. It takes time and effort to get to that point in your career. Instead, set priorities and goals and work towards them. And soon you’ll reach your earnings target in your freelance writing career!