At EditorMuse, we offer a free editorial analysis, which gives an assessment of the strengths and weaknesses of the manuscript and also the editorial direction for the book. Once the editor and author have a common vision, then the editing can begin.
Common editorial rates—regardless of whether a project is flat rate or hourly—tend to fall within the ranges indicated below. These should be used only as a rough guideline; rates vary considerably depending on the nature of the work, the time frame of the assignment, the degree of special expertise required, and other factors. The industry standard for a manuscript page, however, is a firm 250 words.
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5–10 ms pgs/hr $25–40/hr
The role of the copy editor is as broad as it is important. Copy editors correct spelling, grammar, usage, and punctuation, check cross-references, and prepare the style sheets that guide consistency and accuracy across the manuscript.
2–5 ms pgs/hr $35–50/hr
Substantive line editing
1–6 ms pgs/hr $40–65/hr
The terms substantive editors, content editors, and line editors are often used interchangeably for editors who make significant changes to a manuscript, such as rewriting and reorganizing the text.
1–5 pgs/hr $50–80/hr
Developmental editors develop a book or other project from the initial concept onward, working closely with the author or client to study competing works and create a product that stands out.
5–10 ms pgs/hr $25–35/hr
Proofreaders check the text for errors, including typographical errors and problems with typesetting specifications and page makeup. They compare the latest stage of the project to earlier stages and make sure changes have been made correctly.
SOURCE: Editorial Freelancers Association (http://www.the-efa.org)