I am late to this discussion. But I would like to speak for all those authors starting out…editing, although a necessary evil, is very expensive. Let’s face it, writing a novel is not a paid venture. If you sell your book to traditional publisher, or self publish, you will rarely make this expense up. To spend $5.0-$10.0 on your novel is just out of reach for most. I realize that editors “work hard” and “put a lot of time” into their work. But there seems a disconnect in the market place. Writers are writing for free, and shelling out all the money for little return. And yet it seems the only ones profiting is the “market place” on services. It is more an “industry” for publishing, than a means for a writer to get published, or make a living. I wish there was a middle ground for writers: an editing service that prepares your novel for submission to agents and editors at publishers, but doesn’t cost your first child! There is a need, and is truly an untapped market. But what you have are editors, at all levels, “demanding” the market price, whether they are experienced, starting out, or good. There seems to be no heirarchy with an equal level of professionalism for new writers vs experienced who might have a bigger budget for editing. I liken it to buying cars. You can buy a car at $15.0 and still get a good, safe car that looks nice and is drivable.. Or, you can buy a car at $50.0 if you want more prestige, quality service, personal attention, more features. Both are acceptable and worthy, just at different levels of affordability. Although editors are arguably at different prices, as the comments have indicated, the less you pay is for limited services, not a varying level of editing. It’s like getting a car with three wheels. But new writers do need a full service of editing…at an affordable price. I am not sure how to get there, or the value to editors, but there does seem to be a gap that needs to be filled- reliable editors, who can help bring a novel to a professional level for submission, and it be worth their time in doing so, at a rate that is more manageable for a writer’s pocketbook.
I say “most of your desired criteria” because it’s rare to find an editor who will meet all your criteria. For instance, you may have to pay a few hundred to a few thousand dollars more for your top pick. Or, you may find someone at your precise price point, but their experience isn’t quite what you’d like it to be. You must be the one to assess what trade-offs you’re willing to make.
After doing your homework to find the perfect editor, you might discover that the person with the most experience and rave reviews also charges the most for their services. If you don’t have piles of cash to pay a top-ranked editor for your first book, consider giving a newbie a chance. You can find affordable editors on the Freelance Writer’s Den job board, social media groups for self-publishers, and online platforms like Upwork, or Reedsy.
It’s difficult to answer this question without first addressing what an editor actually does. Editors can review the content of your writing (characterization, pacing, plot, etc.), which is often referred to as content editing; the form of your writing (the grammar, the punctuation, etc.), which is often referred to as copyediting; or both. (By the way, proofreading is indispensable, but it’s the final step of checking for typos and other glitches once the book is ready for print—any writer who thinks that proofreading is editing is in grave danger of getting ripped off.)
Fiction writers may want to join a writers group or workshop to benefit from the help of others who have experience with your genre and can help you develop your craft, challenge flaws in your narrative or character development, and help you improve the overall quality of your story. A flawed plot or character is much harder to revise after you finish writing your book, so it’s important to catch such problematic aspects of your book early on.

Software and Systems – Some of us writers like using certain types of writing tools or software.  I personally love to write my books using Scrivener, and will then switch to Google docs for better tracking systems.  However, I've run into editors who only use Word document.  That's no bueno for me.  So, make sure they are good with whatever writing programs you want to use.
Thanks Sangeeta! I’m glad you enjoy the videos! (New episode, with 3 weird tips on self-editing, here: https://www.youtube.com/watch?v=3mmLEuH9x28) Book doctors are such an interesting phenomenon… As are ghost writers, come to think of it. On one hand, self-publishing gives an indie author a chance to share his or her vision with little to no outside interference, but on the other, we’re seeing more and more books written “by committee!” What’s tricky is finding the right balance, which is why the search for the right editor matters so much. Cheers, Teymour For 3 weird self-editing tips, check out my new episode:… Read more »
Freelance editors normally do not double as literary agents. Not only is it not our area of expertise, but it can actually lead to ethical quandaries. There have, unfortunately, been cases of literary agents saying that potential clients’ work “has potential” but needs to be edited (by them or their employee), for an exorbidant fee. It would also be possible for editors to give the impression that they are guaranteeing publication of a project, when that is something no one but a publisher can do. Many professional organizations forbid their members to combine these two roles, to avoid a possible conflict of interest.

First, decide whether your time or your money is worth more to you right now. You can greatly reduce the amount of money your project will cost by investing more time, and vice versa. If time is no object, you may want to spend some hours in the library reading style manuals and going through your manuscript with a fine-toothed comb so that when you do hire an editor, (s)he will be able to zip through it quickly. If you end up deciding that’s more effort than you want to invest, then you will at least find the monetary cost of hiring someone to do it for you a less bitter pill to swallow.

The result will be a very clean and much improved manuscript, but with lots of comments and suggestions, which will probably require some rewriting and extra work on your part. Getting back a heavily edited manuscript like this can be challenging, but know that it will drastically improve your writing skills and help you identify your weaknesses. During the revision process, it’s possible to create new consistency issues, which is why we recommend a final proofread or at least some beta-readers to help finalize your manuscript.
That said, I don’t recommend going to publication, particularly if your book is intended as a revenue-generating venture or as a vehicle of professional promotion, without making sure that someone with an eye for detail has gone through the entire manuscript and ruthlessly noted every typo, every spelling error, every misplaced comma, and every ambiguous sentence.

These reference choices will all be recorded on a style sheet – an essential editing tool. A style sheet contains notes on spelling and punctuation, as well as rules for using numbers and numerals, and even a list of characters and story details that help maintain consistency throughout the book. When the book is passed off to a proofreader, the style sheet communicates the book’s individual style to the proofreader.
A copy editor or line editor focuses on improving sentences and grammar, as well as suggesting other ways of rephrasing ideas, and providing comment on anything else they pick up. Non-fiction books often use multiple styles, for example, chapter headings, sub-headings, action points, bullet points, call-outs and examples, so these will be examined at this phase.
Every author must decide what is important to him or her in an editor, but in these days of electronic communication, honestly I do not think it is important to seek a local editor unless your book is specifically related to something of local interest. Even in that case, you may benefit from the perspective of someone who does not have all the local knowledge it can be easy to presume, so that you can prepare your book for a wider audience.
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