Most editors in my genre charge from 002 to 007 per word. That’s for developmental and FLE, (Final line edit) – three rounds in all. The 10,000 fee you mention here would put off anybody from ever hiring an editor. I know few writers who could pay that, which is why Amazon is flooded with poorly written and badly edited books. I would encourage writers to contact other authors in their genre for tips on editors and to cultivate good beta readers.
Val, thank you, lots of good stuff here, and it’s great to suggest giving a credible newbie a try. As an encrusted oldie, I can say that it’s sensible to deal with a niche/specialist editor, but sometimes editors have broad experience in both fiction and nonfiction writing (I’ve written and edited a good deal of both), and thus can edit with confidence across styles and genres. Thanks for a sound, thoughtful post.
Another great resource is Reedsy; a platform for finding freelance editors, writers, and all things book related. You can also use the Editorial Freelancers Association to help narrow your search. These websites are fantastic because they vet their members, meaning you will only be viewing the best of the best when it comes to editing. Keep in mind, Reedsy prices will typically be higher than going to an editor directly because the website, rightly so, takes a commission (from both the editor and the author) for finding, vetting, and then managing your contract.
Another place to find professional editing service is the team at Ebook Launch. They have a team of professional editors who can polish your book for an affordable price. You can even get a free sample edit of 750 words to help you decide if they're a good fit. The small team at Ebook Launch also provides amazing book cover designs and formatting in addition to their editing service.
Obviously there is a big difference. I actually started with screenplays (with some mild success) partly due to hearing that as long as you have a good story, the grammatical errors won’t be a big deal. Well, that was not true. Maybe if a producer liked the story or I was already established but every contest I entered always came back with feedback about the grammatical errors. Even if I won or placed as a finalist, I always received critique on that. Very little is spelling error, it was more about structure, etc.