Breaking: Writers’ Income Grows While Real Wages Shrink
Freshly released data from the Q3 Payscale Index shows wages are not keeping pace with inflation in most fields throughout the US, Canada, and the UK. However, while regular employees continue to see their buying power fall, writers are enjoying strong growth in both take-home pay and the number of writing jobs available, according to the US Bureau of Labor Statistics (BLS).
As reported in Payscale.com’s Compensation Today, real wages for workers are at their lowest levels since 2006. The term “real wages” refers to employees’ true purchasing power including the effects of inflation. And the continuing decline in real wages for workers comes at a time when corporate profits are reaching new heights.
For freelancer writers, on the other hand, the picture is significantly rosier. The average annual wage for writers and authors is $55,420, a number that rises to $63,280 per year for technical business writers, according to the latest data from the BLS. The top 10% of writers in both categories make over $100,000 annually.
Those numbers can be contrasted with wages in the general economy. Workers across the board bring home an average of just $33,840 in the US.
Going forward, total wage growth for the general public is expected to be .08% in 2013. For reference, the US Federal Reserve targets annual inflation of 2%, which will result in a 1.2% wage deficit in 2013 for most workers.
The numbers make it clear – to get ahead in today’s economy, write! Between 2014 and 2020, job growth for writers is expected to run between 6-17%, depending on the type of writing being done. Publishers and marketing agencies are already complaining of a shortage of workers, and there is little fear of market saturation for copywriters.
Strong job numbers and above average earning potential makes writing an extremely attractive option compared to other job choices. To learn more about making a living as a writer and breaking into the field, visit AWAI’s copywriting resource page now.
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