The U.S. Bureau of Labor Statistics states that employment of editors is expected to have little change up to 2026, as print media continues to face strong pressure from online publications. Editors who have adapted to online media and are comfortable writing for and working with a variety of electronic and digital tools will have an advantage in finding work. 
That’s a great point about other disciplines. Why should writing require some outside arbiter? Is it because these other disciplines consist in crafts that require significant training, whereas anyone who’s literate can start writing a book at any time (and therefore, the threshold for entering the medium is much lower)? I do hope you’re right about learning self-editing skills. I actually just made a YouTube video about how to self-edit: https://www.youtube.com/watch?v=3mmLEuH9x28
There are different levels of editing—developmental, copyediting, and proofreading. I’ve found that authors are often willing to pay good money for a developmental editor, someone who walks by their side and helps to shape the book, but when it comes to copyediting and proofreading, especially if and when an author has had a developmental editor, suspicion arises as to the value or merit of these more drilled-down types of edits. Don’t let this be a blind spot; they’re important—on par with a developmental edit for sure.
For editors who are charging pennies for what should be hours and hours and hours worth of work: I am saddened that you would ruin the market for those who have the expertise and ability to charge what it’s worth. You see, an author whose book needs a whole lot of help will see your rock-bottom prices and think that’s the norm. But the reality? That’s not normal. It’s not normal to charge sweat shop rates for something that requires top-notch quality.

I would absolutely encourage authors to find someone who fits their budget, offers payment plans and will work with them to get the services they can afford (some authors might be able to get away with just a manuscript evaluation, for example) I have to agree with the previous comments. Someone who is working for two bucks an hour can’t possibly be a professional, no matter how fair their prices, and that does not bode well for your end product.
Experience: Experience, including internships at publishing houses and work in other media—such as newspaper or magazine editing—also is important for prospective book editors. Moreover, connections in the publishing world, whether to another editor or successful writer, also can help your chances of landing a job as a book editor. If you are interested in editing books that deal with a specific subject, such as fashion or food, you should have formal training or work experience in that area to increase your chances of getting hired. To grow your network, you can join professional organizations such as the Editorial Freelancers Association (EFA).
I held the role of blogger and web content writer for a multimedia entertainment company before transitioning to freelance work. I have assisted many clients on projects ranging from product descriptions, to blog articles, to content editing. My areas of expertise are in science, fashion, travel, and yoga. I have also edited over 50 eBooks and can provide professional book descriptions.
Blake, that’s wonderful info. Thank you. I completely understand the response about guaranteeing the work. That was just something that popped in my head as I read a book written by a screenplay consultant I hired years ago and he wanted a review so I read it to help him out but found maybe 5 or 6 error’s myself in the 200 page book. I felt like it was unprofessional but didn’t have the heart to tell him. But the errors stuck out like a sore thumb so I was curious if that is normal or not.
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