As a writer, I'll chime in...
The amount you can expect to pay for quality work depends on who you find. Many writers offer fluctuating rates, but few have a premise behind them. They will quote you what they feel is appropriate for a project. That's it. Or, there might be something like 0.01 per word for SEO content and 0.04 per word for authority posts.
I might take on an assignment every once and a while that pays low, but there's often a reason for that. In most cases, it's because I know I can pump the article out in a short period of time. I type 125+ WPM with 100% accuracy, so it's not a big deal to spend 10 minutes writing a 500 word post for $5 ... but most of the time, quality content will take much longer.
For example, I recently did an in-depth list of the top paid survey sites. This required research on each of the companies, their backgrounds, what they offer now, and a bit of insider info ... tips that only users would be aware of ... as well as a call-to-action for most companies on the list. This piece canvassed ~50 companies and ran over 5,000 words in the first draft. It took approximately 20 hours to write.
20 hours / 5,000 words
Now, that's $2.5 an hour at one cent per word. It's still only $10 an hour at four cents per word.
So, fluctuating pay rates are the best way to go. You never know what a writer is charging for X per word. The work might be done fast, or it could be thought up and made with quality in mind. Every writer charges their own rate, not all writers have the same educational background, and few actually write content that converts. You really need to find more than a writer...you need to find a PERSON...because screens don't sell, people do...and the emotion, the character, everything that breathes in the writing, all the behind the scenes help, that's what makes the difference. I sound like I'm selling myself here, I guess this is my "That's the Donny difference!" moment.
The quality writers go above and beyond. Myself, I spend more time talking with a client than I do writing for them. Those 1,000's of words of brainstorming, communicating project ideas, and etc., are all an added value, for which I receive no compensation. Yet, many writers will take their one, two, or four cents per word and spit out the content. If you need a consistent writer, throw them a profit-sharing incentive to make them care about the quality. When client A, B, and C all have a fitness blog, the writer only cares to give 1000% to his own blog, not theirs.
The writers that have serious skills learn how to make bank after a while. You might catch them while they are lost, but that's not always the case. Most writers that always look for work aren't at the top of the quality spectrum. So, unless you catch someone transitioning between clients, you can expect to pay a fair penny for a quality writer that sticks around. After more than 10 years in the business, I have been on every side...and the "not knowing your value" part is too true, because while we're all selling vehicles, there's a difference between a Ford and a non-Ford.
