I had no idea what to say. The writer sitting next to me at the keynote of a conference had just told me that she was considering leaving a very high profile outlet that we both wrote for because the low pay of $100 a post was becoming an issue. But I was being paid $300 more by a different editor for pretty much exactly the same work. Should I tell her or keep my mouth shut? The last thing I wanted was for her to think I was bragging. But at the same time, I would want someone to tell me that I should go back to the negotiating table.

I told her. I stumbled. It was uncomfortable. But she was grateful. Instead of dropping the client like she was planning, my new friend was able to negotiate a higher rate. She continued working for the client and then a few months later her editor got a new job at a very prestigious publication and asked the writer to follow her. It turned into a huge anchor client that was a turning point in my friend’s career both in terms of finances and reputation. If I had said nothing, she would have left the original gig and missed out on a career-changing opportunity.

We’ve been raised not to talk about money. That it is not polite. That is is a taboo subject. And while I don’t go sharing my income around to my friends on Friday night at the wine bar or announce it at the Thanksgiving table, I think that we are doing a disservice to ourselves, other writers and the freelance writing profession as a whole when we don’t talk about money. I used to feel very uncomfortable about it, but now realize that by talking about it, we are helping other writers gain the knowledge and the skills they need to support their families through freelancing.

Who Pays Well, Who Pays Terribly

By sharing rate information with each other, we can help each other negotiate higher rates and find out when we are being paid lower than another writer. The scenario I described above happens a lot more than I originally thought, with writers being paid different rates because one was a better negotiator. But by being open about money, we know which clients to push harder for more money and we know which outlets to avoid because their rates are simply way too low.

About five years ago, I told a fellow freelancer that I know in real life that I was so excited to be finally earning around $40 to $50 an hour. The look on her face was pained. About an hour later she took me aside and told me that I was way under-earning and that I needed be aiming for $100 an hour. I had no idea. Her comment changed the course of my career. I dropped my low payers, made an huge marketing effort and doubled my income the next year. All because she had the courage to have a tough conversation with me and burst my bubble.

And I think that every time we talk about money to other freelancers we are helping move our profession forward by giving newer writers the knowledge that they need to turn down lower paying assignments, search for the higher paying gigs and then earn a livable wage for their geographic area of the country. By not talking about it, other writers think that low paying gigs and earnings are the normal. So they stay there and never move up.

Yes, It Possible (Very Possible) to Earn a High Income as a Freelance Writer

But more importantly when we share our earnings, we help other writers know what is possible in terms of income potential.  This is the main reason we should all talk about money, especially high income earners. Many people, including freelancers, have the starving artist mentality and think that you can only earn a low to average income. But that is not true. I know many six figure freelancers and a handful that earn over $150K. And I never would have known that this level was possible if they hadn’t shared.

When I started freelancing after leaving my job at IBM to stay home with my kids, I thought I could earn $30K or so as a freelancer, if I was lucky. I assumed it would be a pay cut. Then I found Kelly James Enger’s book Six Figure Freelancing: The Guide to Making More Money as a Freelancer and realized that it was very possible to earn more than I did at IBM so I set my sights on much higher goals than I originally intended. And because of Kelly’s book and other freelancers who shared the earning possibilities as well as how they did it, I broke six figures in 2015 and made the part-time equivalent in 2016.

After much hesitation, I wrote a blog post about making six figures. I was very nervous. It was my most popular post I have ever had and was very widely shared among freelancers. And not a single person said to me or online that I was bragging. And I got so many emails and posts thanking me for sharing my earnings and how I did it. Many of them had no idea it was possible to earn six figures because they were earning 1/5, 1/4. or a 1/3 of that working the same hours (or more) as me. And the best part is that at the end of 2016, I got several emails from these same writers telling me that they dramatically increased their income in 2016 because of my openness about money.

You are in charge of your income

Earning six figures is great. Not earning six figures is great. Working 20 hours a week is great. And working 40 hours a week is great as well. There is no “one size fits all” in freelancing and that’s why most us are in this business – to build a business that is flexible enough to fit our individual strengths, interests and lifestyles.

I think that the best and most valuable part of being a freelancer is that we can change the amount we earn, how much time we spend working and the clients that we take, whenever we want without having to answer to anyone. And the best part is that we can change this very quickly as our situation changes. Very few other professions have that ability.

But we only can get the knowledge we need to accomplish our income goals (whether it is $50K, $100K or $150K)  as freelancers if we are each willing to take a deep breath and openly talk about money with each other.

How have you personally benefited from other freelancers talking about money? Have other writers told you that you talking about money has helped them? What are your thoughts about freelancers talking about money?