That's a great question, and it depends on the type and quality of work your editor will be performing. Payment for an editor can range from a few hundred dollars for light editing tasks to much higher rates for more intensive editorial services. Generally speaking, you should budget for an editor based on the project’s scope, the editor’s experience, and the turnaround times for the job.
Here are a few tips to keep in mind when you're setting your editing budget:
First, assess the nature and difficulty of the editing task. Generally speaking, the longer and more demanding the project is, the more you should budget for the task.
Take into account the editor's qualifications. Hiring an experienced, highly qualified editor will cost more than an editor with lesser experience.
Consider the turnaround time of the project. If you need the job done quickly, some editors may be willing to offer a discount in exchange for delivery of the project in an expedited manner.
Research the going rate for the type of editing service you need. You can check the rates of editors in your area by looking at job boards and freelance websites such as Upwork, Freelancer.com, and Guru.com. To get a comprehensive understanding of the market, it’s a good idea to also reach out directly to potential editors and ask for their rate for the type of editing service you need.
Once you have an understanding of the market, you should budget accordingly. Depending on your budget and the type of editor you need, you can look for options from either the field of professional editors, or the larger pool of freelance editors.
It is always a good idea to discuss payment methods and other details with a potential editor before you begin a project. That way, you can start off on the right foot and ensure you'll receive the best editing services.
I hope this helps!
