If you have a passion for movies and editing videos, you may have considered earning money as a freelancer. Like being a graphic designer or web developer, there are many possibilities for making cash with a background in video post-production.
As with most freelance jobs, figuring out how much to charge for video editing can be one of the most challenging questions.
Video editing is a service that adds to the quality of any video project. It can set your business apart from its competition, make your work seamless, and help you put together an engaging professional video.
Video production has fast become one of the most sought-after services for businesses worldwide, so let’s find out how much video editors can earn?
Average Pay of a Video Editor
In the 21st century, film and video editors have witnessed an increase in their earnings. As a result, online training videos, DVDs made by movie studios, and software-assisted scene editing are all rising.
Professionals that operate on a project-by-project basis tend to rise up the ranks. While working for news organizations, manufacturers, or the entertainment industry, they earn a living by sharing their expertise with others.
According to the Bureau of Labor Statistics, film and video editors in the United States earn an average hourly wage of $40.
Film and video or vlog editors can earn anywhere from $35,000 to $40,000 per year, while more experienced editors can earn up to $80,000 per year.
The hourly wages for freelance film editors may range from as low as $14 an hour to as much as $80 an hour, depending on their degree of expertise.
Factors Affecting Video Editor Payment Rate
The most significant component in establishing oneself in the market and getting additional tasks is experience. Having many clients or working with established clientele helps to increase revenue.
Specific sectors or types of material require distinct types of video editors. It’s easy to make a lot of money working in industries like the movie industry or in significant corporations.
The amount of money you are paid for a job depends on the sort of customer you’re working with. When working with clients, whether large or small, it is imperative that you verify the resources that are included in the price.
In order to determine a reasonable price, you must take into account the scope of the project. You may lose money if you don’t put in the effort to improve your abilities.
The Final Cost of Video Edit
Including the final result, all of the resources that you provide to the project are included in the final cost. When determining the cost of the modification, the following factors should be taken into account:
- Duration of the raw footage
- Time of the finished edit
- Motion graphics
- Text overlays
- Image stabilization
- Color grading
- The complexity of the edit required
Additionally, it’s important to consider the level of editing necessary. Video editors should be paid for their work, not for the time they put in. The editor’s time and effort may be wasted if they charge less just to preserve a good connection with the customer.
It goes without saying that if you want to be successful in this industry, you need to have a lot of experience. There are no limits on the number of projects that a newbie may participate in. Your abilities and resume will benefit as a result.
Amateur editors are given the most basic editing responsibilities at first. In the early stages of your profession, this is a simple way to make money. However, it also aids in determining your capacity for tasks at a given intensity.
As a result of working on any type of project, big or small, you’ll be adding it to your resume. As a team member, editing the video is an extremely important responsibility.
Almost everyone expects it to be of the highest quality. The projects that a video editor gets in the future are determined by their abilities as a video editor.
If you don’t have an active portfolio, do some video or vlog edits for free.
Type of Industry
Video editors can work in a wide range of businesses. It’s important to note that each one works differently. The cost of video editing varies depending on the equipment and setup required.
These industries include:
- Weddings and Other Events
- Documentary Features and Music Videos
- Commercials and Branded Videos
- Scripted Features
- Episodic Programs
- YouTubers Vlogs or Stream Edits
Payment Rates for Videos Editors
Probably the best rate to choose. Video editing services are being billed hourly. For example, if you earn $40 an hour and work eight hours, you will have $320 for the day.
The best choice for a freelance video editor is to charge by the hour for their work. It ensures that you will be compensated for each and every minute you put in on the project.
As a bonus, it will guarantee that you aren’t overworking yourself by increasing your time and effort into the job.
If the customer asks you to work longer hours on the project, you can be sure that you will be compensated.
This implies that your daily pricing for video production services is set no matter how many hours you put in on the project. Video projects that are completed ahead of schedule can benefit from a daily charge. However, if the project is complex and you have a tight deadline, this may be overkill for you.
This implies that no matter how many hours, days, or months of rendering you put into the project, your video editing rates will remain the same.
Most long-term video editing projects require a higher production fee because of their complexity. Take an hourly wage of $80, for example. However, quality video editing costs are expensive for clients.
Fixed rates would be an excellent alternative for you. It costs $800 to rate the entire video in a week. For you and your customer, this may seem like a reasonable fee.
It’s also possible to complete your job ahead of schedule. If you’re still getting $800 a month, this will allow you to take on other assignments during your leisure time.
Charging Based on Video Project Type
Consider the sort of video project you’ll be working on to figure out the appropriate fee to charge for your job as an independent videographer and editor.
You may charge more for your job as your portfolio grows and your abilities improve. For example, a year into your job, you could be able to charge $1,000 or $2,500 for the same type of movie you were selling before you learned your new talents.
If you can persuade the correct customers that the investment is worth it, they’ll be willing to pay practically any amount.
The cost of videography for a given project has no maximum limit. At $50,000 for a single 10-minute movie, videographers are not uncommon in Silicon Valley tech businesses when pitching and closing deals on corporate videos.
It’s a good rule of thumb to double the price you’re comfortable asking of your clients when it comes to increasing your revenue.
No matter how low you go in negotiations, you’ll almost certainly come out ahead of where you started.
It’s a vast undertaking to edit a documentary. Depending on your director, you may have to spend a lot of time editing. Hence, it would be best if you charged an hourly cost for your video editing services.
Indeed, you wouldn’t want to be situated in editing a lengthy documentary for a fixed price, right?
Videography or Cinematography
Having your fee charged daily for video production services, including filming, editing, and cinematography, is a secure bet. Typically, the cost of a video shot is $500 or more, depending on the intricacy and duration of the film.
Commercial Videos or Business Promotions
Businesses want to know upfront how much a video production will cost, so setting your fees is a good idea. As a freelancer, you’ll likely be editing commercials, internal videos, online tutorials, event marketing videos, vlogs and more.
In most cases, the business organizations will provide you with a quote for the job’s estimated cost. Your charge can be adjusted accordingly, or you can get down with your customer and work out a price that both of you are comfortable with.
Charging Based on Qualifications
Let’s say $10/hour will do. As you gain more experience and competence, you will be able to improve your abilities.
Charging Based on Region
According to a recent poll by Indeed.com, video editors’ hourly pay varies depending on where they live. The hourly wage for video editors in the west is expected to be $27.40.
Maine and New York, which are located in the Northeast, cost between $21 and $30.00, but the same places in Louisiana and Washington cost between the identical amounts. In the Midwest, states like Illinois and South Dakota charge between $18 and $26.
The average annual income for a video editor in India is ₹ 350.00 or $5 per hour. Entry-level employment might pay as little as ₹ 243.00. The average annual salary for a highly-experienced individual is over ₹ 600.00. While video editors in Singapore can expect to make an average of $2929 per month.
In Italy, the lowest salary is 1280 EUR, while the highest is 4420 EUR. With housing, transportation, and other perks all taken into account, this is the typical monthly wage. Experience, abilities, gender and location are all factors that influence video editor pay.
Lastly, 34.31 EUR is the average compensation for an entry-level video editor (1 to 3 years of experience) in Germany. On the other hand, senior video editors (8+ years of experience) make an average income of 58.55 EUR.
- South America $15 – $30
- North America: $30 – $50
- Asia: $5 – $20
- Africa: $5 – $10
- Western Europe: $30 – $40
- Eastern Europe: $20 – $30
Videography Charging as a Retainer
It’s difficult to find a form of videography price that’s both good and lucrative. Retainers are one of those. When you’ve established a long-term connection with a single customer, you might begin exploring the possibility of a monthly retainer agreement.
With a monthly retainer, you may provide your services to a certain client on a recurring basis at a higher fee. As a result, many videographers want to work with the same clients on a regular basis, but they don’t want to be bound by the rules of the corporate world and supervised by someone else for lower wages. In a retainer-based firm, this is possible.
Your retainer must be defined before it can be set up on a monthly basis. Clients who have unlimited access to you for a single charge are more likely to take advantage of this. Set weekly time limits, such as a certain amount of hours.
The monthly deliverable expectations should also be stated explicitly. You and the customer, for example, can agree to produce three videos of one sort and three of another each month. Once the job is completed and delivered, you’re done. The customer will be charged for any additional work done beyond what is specified in this agreement.
You can get started for $2500 a month by editing four five-minute YouTube videos. To put it another way, let’s assume the customer is a fan of the videos but wants to use them in new ways.
After that, you may charge the customer an additional $500 to re-edit the same movies in square and vertical formats so they can be posted on other platforms.
Marketing Yourself Well
Effective marketing is even more critical if you want to increase your editing rate when you’re just getting started. Remember, you can’t get a job if no one knows about it. Because of this, it’s a good idea to spend a lot of time and money promoting your brand.
Create a professional LinkedIn profile and upload your work on sites like Instagram and TikTok. Now is a fantastic time to build a professional website if you don’t already have one.
Displaying your portfolio, an “about me” page, and a price page about how much charge for video editing you offer are all options available here.
Alternatively, you may begin pricing the project by generating a one-minute film in your own way and putting it online. Then, you may sell the movie to other corporations or personal brands for $500.
Making a sample film with graphics and color treatment and displaying it to new potential clients is a very efficient way to advertise your editor and videography services.
Places Where You Can Pitch Your Work
If you decide to work for yourself as a freelancer, you’ll have to come up with new ways to attract clients. Local editors and videographers generally organize their own work for their members. It is feasible to obtain employment as a freelance videographer on a variety of online platforms.
In addition to Thumbtack and Upwork, you may also list your business on Fiverr and Vimeo. Don’t forget to connect to your professional website and social media accounts from these profiles.
More time and effort go a long way when it comes to them. Looking professional will increase your earnings potential.
Factors to Keep in Mind While Negotiating Your Editing Price
Negotiating your price is essential to set a standard income. You need to figure out how to get the most money from your abilities. The following are some factors to keep in mind when engaging in any sort of negotiation.
How Much Should You Be Paid
The video editing process involves the use of a variety of equipment and the skills and abilities of the video editor. As a result, you should be aware of these aspects prior to providing a price quote.
Before deciding on a working rate, take into account other costs such as software licensing, technology devices, and professional dues.
Check the Market Price
The video editor must be aware of the current market rate, just as in other professions. To get pricing for their services, one may either do research online or inquire.
As previously said, market prices vary by area. Therefore, the editor must know what a fair price is before placing an order.
Set the Payment Terms
Make sure you pay your video editors the way you want to. Hours, days, weeks, or months are all possibilities. As a freelancer, you should avoid contract employment wherever possible.
To accomplish a project, one must determine how much they are willing and able to commit in each step of the process. When negotiating a price, one must be confident in his abilities.
Set the Price According to the Client
For each sort of client, the service rate is different. It is possible to make a lot of money working for large corporations with a big budget. You may have to haggle for a higher price. Individual and small-scale projects must be quoted separately for smaller clients.
The pricing range must be well defined before speaking with the client about the price. Find out how much money the customer has set aside for the project’s final edits. A variety of rates can be set up for different sorts of work.
If a project is costing you less money than you expected, check to see if you’re doing it for the appropriate reasons. It might be to build a client connection, obtain a high-profile job, or just to get your creative juices flowing.
In addition to these strategies, you should avoid dealing directly with clients if you want to get paid hourly. It is possible to make more money if one negotiates based on the project’s worth rather than the amount of time it takes to complete it.
Ways to Increase the Income as a Video Editor
What one may earn from video editing is highly dependent on the individual’s ability to edit effectively and efficiently as well as their level of brand recognition in the marketplace.
Here are some ways for increasing your earnings as a video editor:
Choose the Right Software
Video editing relies heavily on third-party software. Because of this, it is important to learn the program that is most likely to be used by the person in question.
Video editors need to be familiar with the most common video editing tools, such as Adobe Premiere, Media Compressor, and Final Cut Pro. All of these tools should be available to video editors so that their services may become more advanced.
Of course, if you are just starting, you could try some free video editing software as well.
Keep Up With the Trends
Several people have benefited from following current trends in order to earn more money in their occupations. In addition, the entertainment industry is constantly changing. As a result, the editor should avoid using outdated editing techniques and follow new trends.
Creating a video is all about using your imagination. For those who have the ability to think beyond the box, their efforts will certainly be rewarded with new clients.
Commit to the Deadlines
As previously said, additional projects will come your way due to your solid market reputation. The first step in winning a client’s trust is setting deadlines and adhering to them when completing the assignment.
The video editor must be open and honest with the customer when determining a delivery date.
Even if you’re working as a freelancer, you need to be clear about expectations. The agreed-upon fee must be in line with the client’s needs. Editing the video required several iterations and adjustments. In order to establish a positive working connection, the video editor must be adaptable to the client’s requests.
The compensation of a video editor is frequently determined by the quality of the editor’s connection with the customer. Editors benefit from the trust of their clients since they are more likely to promote their services to their colleagues in the business community.
More customers equate to more earnings.
It doesn’t matter how you decide to price your video editor’s job; remember the client’s worth. Don’t be persuaded to agree to anything that isn’t expressly stated in the contract. Earn what you’re worth by recognizing your own value and standing up for it.
In this industry, there aren’t many hard and fast rules. Especially when it keeps changing as rapidly and dramatically as it does. But you’re ultimately responsible for transforming the raw footage into a fascinating, moving, or wonderful story.
The fact that supply typically outstrips demand can be disheartening, especially in the bigger marketplaces. Additionally, it may appear that video editors are being pushed to lower their prices.
But keep in mind that excellence, reputation, connections, and business are more critical than ever.