We’ve finally arrived at the question I know you are curious about: How do I make MONEY?
There are typically two options in terms of setting rates: either per word or per hour. Per hour is more open ended. You don’t know exactly how long a project is going to take, so that means the client doesn’t know how much they’ll have to pay you.
If you charge per word, you have to know about how long it takes you to edit a document. When you know that, then when you look at each potential project, you can set your rates based on your average time spent editing and how long you think the project will take.
Personally, I charge a per-word rate because I like to give my clients certainty: they know what they’re going to pay before I even start editing. But again, it’s totally up to you and what you prefer.
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Factors that Determine Your Income Potential
Your potential income is going to depend a lot on how quickly you can edit. Accuracy is always the top priority; if you return documents to your clients with lots of errors, they’re not going to hire you again and you’re going to get a bad reputation! You don’t want that. But as you gain more experience, you can get faster at editing and, thus, make more money.
Some people, though, are very slow readers. It’s important to understand that if it takes you a long time to read an academic article and make corrections to it, that’s going to hurt you in this business. It doesn’t mean it’s impossible to be an editor; you’re just not going to be able to earn as much as someone who can edit a lot faster. But, if you can read quickly, spot errors and make corrections efficiently, while still being very accurate, then you can do really, really well financially (I’m talking $100/hour or more).
Your income also depends on how much you can work each week. The beauty of this career is that you have all the flexibility you want, but it’s not a salaried position. You make money when you work. When you’re deciding whether or not this job is for you, be honest about how many hours you have available each week to dedicate to editing.
Another point I’ll add here is that some people physically cannot sit at a computer staring at a Word document for 8 hours a day. So when you think about your availability, remember that even if you have 12 hours a day free to work, your body may not keep up with you!
There’s Significant Income Potential in Academic Editing
I do want to emphasize, though, that you CAN make a good living as an academic editor. During my first year—and I made a lot of mistakes in choosing which companies to work for when I was starting out, so I didn’t make as much money as I could have—I only worked about 20 hours a week because I was watching my son, but I still made about 75% of what I had been making as a tenure-track assistant professor of political science at a LAC in the southeast US.
In my second year, I took 3 months of maternity leave but made the same as I had in my first full year of work (and I still only worked 20-25 hours a week).
In my third year of editing, I matched what my faculty salary had been; in my fourth year (2023) I made 25% MORE than what I had made as faculty; and in 2024 I hit the 6-figure mark.
And let me say again, it SHOULD NOT take anyone 4 years to get where I am now. I made a lot of mistakes because I didn’t have any guidance, and I also worked only 20-30 hours a week (if that) and have been raising young children. With the right help and a clear plan, you can get here a lot faster.
So YES, it is possible to make great money as an academic editor (but please keep in mind the caveats I’ve mentioned, and understand that I am NOT making any promises to you as far as how much money you can make; I’m just sharing my experience).
Pros and Cons of Freelance Editing
Let’s zoom out and look at some overall pros and cons as you consider whether or not you want to leave academia or start a side hustle as an editor.
With editing, it is possible to match or exceed your faculty salary, but remember that, as an editor, you’re a freelancer or self-employed (at least in terms of the context of this article), so you don’t have an employer paying your benefits or payroll taxes, or saving for retirement for you.
You have true flexibility when you’re an academic editor. Everyone says that academia is so flexible, but how is that true when you’re working 24/7—and feeling guilty whenever you’re NOT working? You don’t have that with editing. You make your own schedule. At the same time, you don’t have a guaranteed income. You have to attract work, but there are plenty of places that would love to hire a scholar like you.
For me, there is much less stress and less overwhelm. You don’t have to deal with abusive people. If you want to take a week off of work to go on vacation or recharge, you can do that, and it can be at any time of the year you want, not only during semester breaks.
At the same time, there’s going to be a learning curve. It’s a new career, after all. But with some help and the right guide, it doesn’t have to be hard.
Next, something that’s stressful for many academics is having to live far away from family or in a place you hate. I know that was true for me. When you become an academic editor, you can live wherever you want, as long as there’s an internet connection. This opens up a lot of possibilities for your partner and family, and would even allow you to travel the world while still earning a living.
In closing, there are so many upsides to becoming an academic editor. And the best part is: you don’t have to do it alone! My course, Becoming an Academic Editor, not only gives you the tools you need to start attracting editing clients and build a profitable business, but also offers a community of scholars-turned-editors who understand what you’re going through. We share advice on finding clients, offer feedback on business names and resumes, commiserate over the stresses of academia, and support each other in this new adventure.
Are you ready to change your life? Join us!