Editors’ fees vary so drastically that authors are often (rightfully) confused about how much to pay. I’ve seen copyediting fees that range from $20/hour to $300/hour. That said, I’ve seen plenty of authors pay $20/hour for a poorly executed copyedit that needed to be redone. I know one author who paid $200/hour for a copyeditor who’d worked on a famous best-seller, operating under the false assumption that a good copyedit would be their ticket to best-seller status. That didn’t happen. Get a few bids and consider paying a couple different editors for two hours of their work and compare. It’s important to judge the work rather than the fee. Consider this investment as research rather than money wasted.

It is not the best option. A program will never beat a good editor. The only thing I suggest is that a writer uses a program to help as they work or write. This helps make your book cleaner and causes less effort on the editor – making them happy and if done well enough, could cause your rates with the editor to stay lower or low. If you have too many issues, an editor may demand more.But if you just cannot afford an editor, then the best way is to use a program, and have you do a full read through, and have someone else (friend) do a full read through…and the more the merrier.
Amazing post, Dave, and definitely an important topic. My first book I used one of the larger “editorial agencies” you mentioned. The quality wasn’t bad but there was no direct contact with the editor. Just ship it to them and they ship it back. I’ve tried out several editors now and found a very good one who did a great job on my list book. Once you find a good editor, stick with him/her and build a relationship if you can. Thanks for the list provided and this editors test is a great addition.
2. Copyeditors aren’t the last line of defense when it comes to a book’s mistakes. Formatting, which is done after an editor has done their job, can lead to unintended errors being introduced into the text. That’s why it’s important to hire proofreaders to comb through edited text *after* the book has been formatted for print or digital. Proofreaders are your last line of defense—but they’re human too.