Video editing is a post-production work involving manipulation and rearranging of video shots to produce motion work complete with sound and sight clips. The quality of work of a video editor is determined by his video editing skills, tools and understanding the video storyline to produce a professionally acceptable job.
A skilled video editor may offer his service as a freelance to serve different clients. He is a professional in his own right except that he chose to support various clients in the motion content business. He works on several video editing jobs including advertisement, moviemaking, musical, commercial, events shows, documentary editing, and showbiz to mention just a few. Therefore, what should he charge for his video editing services?
Factors determining freelance video editing rates
A freelance video editor needs to establish how to cost his service. The standard ways of costing include Hourly rate, Daily rate, and Fixed rate. Also, the freelance video editing rates are influenced by such factors including skills/qualifications, competency level, and area/region. It includes tax, job complexity, needs for specialized equipment, and effects such as voiceover and resources needed in executing each video editing assignment to determine what to charge in comparison to the competition.
For you to determine your freelance video editing rates as a starter, it is best to consider the ruling rates in your immediate market. With time, you can charge more if you excel above the competition and build a reliable service.
For instance, if you offer video editing services on Fiverr, you need to go with the standard of service costing until you go Pro or build service excellence to raise your rate without suffering rejection from your clients.
What you should charge for video editing
For a guide on freelance video editing rates I would suggest the following established ways freelancers use to charge for their video editing services:
- Hourly rates. Typically, most freelancers cost their services using hourly rates. With such service rates, they can reduce the jobs into hourly pay to figure out what their daily income would be. If you charge, say $20 per hour, working 8 hours a day will give about $160. With your present skill level, can you conveniently raise this rate without losing customers? Your honest answer should dictate what to charge with other factors discussed earlier.
- Daily rate. This is a tricky costing option, especially when dealing with a complicated job that may take several days to complete. No matter how many hours you work daily, your rate is fixed, and you need to be careful about going for this costing option.
- Fixed rate. This costing method charges a fixed sum for the entire project. It doesn’t matter how many day or hour it takes; your income cannot change.
There are different types of video editing jobs. You need a proper understanding of how to cost each one to be on the safe side. But remember, the chief determinants of your rates will include your market, your skills and the type of job and resources required for completion.