Video editing is the art of creating the perfect video by removing unwanted footage and adding great footage. It refers to how multiple pieces of footage are combined in the best order and sequence, and sound effects, texts, and other effects are added. A video editor allows video editors to achieve their dreams by making edits to videos as they desire.
Thanks to the creation of technology, internet availability, and easy access to mobile phones and computers, a teenager can also become a pro video editor. If you want to become a professional video editor, you need to know how much you will be earning and the factors that increase or decrease your earning. You need to sell your services at a good price, be it a freelancer or an employee at a firm. Here is how much you should expect from a video editing job:
What Qualifications Should You Have?
The amount of money a video editor earns depends on the type and number of projects they do. If you have a bachelor’s degree in filmmaking and broadcasting, then you have the advantage of getting employed quicker. Learning how to edit videos through online courses or a film school helps you excel and grow your computer skills, creativity, communication skills, and much more.
All these skills and qualities are very important if you want to bag big projects. As a video editor, you must have flexible working hours to accommodate multiple projects at a time. Apart from these necessary skills, you must have photography, graphic design, information technology, communication skills, media studies, fine arts, and digital arts. Doing a course from the right college or platform can help you learn all the skills required to be the best video editor.
Video Editor’s Income Based on Location
In regions where the demand for video editors is high, the salary and opportunities for growth are also high. New York and California are the hubs of production and film companies, making them the ideal states for video editors. Video editors who work in New York make between $90,000 to $92,000 per year. In Texas, the average income of a video editor is around $74,000. This is why location is a key factor in determining how much you will make as a video editor.
What is the Average Pay of a Video Editor?
In the 21st century, there has been an increase in the demand for video editors and thus their income. More and more film companies are opening up, new online courses and training videos are rising. Movie companies also need video editors to edit scenes and alter them. Most video editors work on a project basis, which means that they get a promotion with every project they do. Video editors make around $60,000 per year on average, according to the statistics.
A video editor is paid around $41 per hour. A professional, skilled and experienced video editor can make up to $81,000, whereas a person new to the industry can earn up to $41,000 per year. However, the hourly rate may vary for each freelancer ranging between $15 and %81.
The hourly rate depends upon the type of editing the client needs and how much the client can pay. According to statistics, the majority of freelancers can earn an hourly wage of $26 per hour. The average hourly rate of a video editor lies between $21 and $39.
In 2016, nearly 60,000 video editors got jobs in America. Video editors are well in demand and play a very important role in finalizing the video by altering it. This is why film companies need video editors for multiple tasks such as deleting scenes, adding special effects, adding sound effects, color correction, and much more. The more skilled the video editor is, the more seamlessly he will make these changes in the movie.
Factors that Affect Your Market Rate
One of the most important factors that help enthusiastic video editors set their feet firmly in the market and bag many projects is experience. If you have experience working with multiple clients, your chances of getting a higher income are more. Some video editors limit their work to a particular industry or a type of content. If you want to secure a good income instantly, you should work for the film and movie industry.
Every client has their payment policies and salary. The client may change the amount of money they will pay you for the project. This is why when finalizing a deal with your client, be it a small one or a big one; you should check all the resources mentioned in the price rate. The salary must be according to the type of task you are asked to do.
The Payment Criteria
To sell your product and service at the right price, you should never undermine your skill and know the details of the project. The final amount of money you deserve is a combination of all the cost resources provided by your end.
Some things you should consider when deciding the cost of your video edit include the following skill checklist:
- Text overlays
- Motion graphics
- Image stabilization
- Duration of the raw footage
- Duration of the final draft
- Color shading
- Complexity of the task
- Type of editing required
Everybody knows that experience is the key to employment and success in any sector or industry. The video editing industry is not immune to this general rule. If you are a fresher, you should work on as many projects as possible, even if they are small.
This allows you to practice and sharpen your skills and also build your CV. The simple and easy editing tasks are assigned to freshers. This helps you gain projects and earn some money in the initial days of your long journey to become a professional video editor. It also helps you determine how much workload you can take.
Whichever project you work on will add to your CV, portfolio thus representing your experience. Editing videos is a very important task as the end product of the film, movie, or video depends on it. Everyone expects it to be excellent. Your skills and talent determine the type and number of projects you will receive. If your video editing skills are fine and flawless, your chances of getting big projects will be higher.
Which Industry Do You Work for?
A video editor has many options when they are looking for jobs. They can go into many industries and apply their skills. However, every industry has different expectations and work differently. The amount of money you will earn as a video editor depends on the equipment and setup required. Industries you can work for as a video editor include episodic programs, wedding and office events, documentaries, music videos, films, commercials, scripted features, and brand videos.
In a Nutshell
As you can see, a video editor has many open options and jobs they can go for. They have many opportunities to work in lots of different industries. You can start as a freelancer and offer your services at a good price. This will allow you to do many projects, sharpen your skills and add experience to your portfolio. Once you have enough experience, you can settle and work for your dream industry. As long as you are determined, passionate, skillful, you have nothing to worry about.