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Yes, editors should be paid. And, yes, you should invest in an editor even if submitting to a publisher.
You have spent multiple hours working on and over your manuscript. This is your proud moment, an achievement you have wanted for however long. Why then would you not prep it to near perfection? Finding an editor is an investment in you and your work. A cost of business.
Publishers have their own editors, they’ll do the edits. Yes, but only after you’ve been accepted and contracted. You have to get there first. If the final acceptance is between your manuscript and a polished edited piece which one is more likely to be accepted?
The hard truth is that no one can edit their own material – shouldn’t just rely on their own editing. We’re too close to the material. Too involved.
When hiring an editor keep in mind they are not out to steal your work – the one fear I’ve heard over the years. They edit because they have strengths to offer and want to work with you.
They are not here indefinitely either. Their time is limited for each client and you need to respect the contract with them.
Yes, contract.
Both you and your potential editor must agree on what is expected, how many viewings/readings/back and forth will be done, the timing of due dates. The full cost – whether by word, page, package deal. And how payment will be handled – up front, partial, finished product.
Never think emails don’t count. These do show intent and can protect you as well as the editor.
How much should you pay? This isn’t an easy blanket answer. Editors are everywhere and set their own costs. Some may be based on organizational prices, others freelance. Keep in mind your budget and research the editors. Talk with them. What are their qualifications; what are you looking for. Ask for referrals and then references.
As an editor and someone involved in the submission/acceptance process – it’s worth it.