How financial news websites pay their contributors

Ricardo Bilton of Digiday writes about how some financial news sites are recruiting and paying contributors for their content.

Bilton writes, “Financial News site The Street is a relative newcomer to the contributor network game. Since introducing its writers program two months ago, it has attracted 100 writers, a number it hopes to triple by 2015.

“While all of its contributors start unpaid, The Street has built its system so that successful writers can work their way into paid channels. When writers get 20,000 pageviews per week, The Street pays them $20; 40,000 weekly pageviews gets them $40, and so on. Really successful writers can get pay comparable to The Street’s full-time staff.”

“Like Seeking Alpha, The Street pitches contributors on more than just a way to earn a quick buck. ‘Part of our pitch is we’re going to be putting them up with our veteran editors so they get experience working with real journalists and learning how to put together leads and include information that makes the story work,’ said Bill Inman, editor-in-chief of The Street.

“The vetting process here is thorough. The Street requires that contributors submit profile photos, offer references, and sign contracts. It’s also looking for people who ‘really know their stuff,’ not broad generalists, said Inman.”

Read more here. Seeking Alpha CEO David Jackson has tweeted about this issue here.