Summary

The article provides a realistic perspective on making money on Medium, emphasizing the challenges and suggesting alternative strategies for income.

Abstract

The author of the article offers a candid view of the potential to earn money on Medium in 2024, cautioning that for most, especially those in high-income countries, it is not a reliable source of income compared to traditional employment. The article suggests that writers might have better chances in lower-income countries due to the purchasing power of Medium earnings. It outlines several strategies, such as publishing frequently, networking to become a story nominator, writing content that Medium is likely to promote, and creating a coaching business. The author also criticizes common misconceptions, such as the effectiveness of writing groups and the likelihood of viral success, while advocating for more practical approaches to earning a living through writing.

Opinions

The author believes that the chances of making significant money on Medium are very slim, akin to taking a risk with extremely low odds of success.
Moving to a country with a lower cost of living is suggested as a way to make Medium earnings more financially viable.
The article criticizes the "spammer strategy" of aggressive self-promotion and networking to increase visibility, though it acknowledges its potential effectiveness.
Becoming a nommer (someone who nominates stories for boosts) is presented as a more lucrative option than writing for many, with the caveat that it involves social networking within Medium's ecosystem.
Writing content that aligns with what Medium tends to boost is advised for those looking to earn more, even though it may not align with a writer's personal interests.
The author points out the irony in writers focusing on writing about making money on Medium rather than actually making money by writing quality content.
The article dismisses writing cohorts as ineffective in the long term, likening them to Ponzi schemes.
Coaching is recommended as a valuable way to earn money, with the author endorsing a specific writing coach as an example of someone who earns more from coaching than from writing on Medium.
The author concludes that while making money on Medium is not impossible, it requires acknowledging the low hourly rate, the unreliability of income, and the significant effort involved.

How to Make Money on Medium in 2024

Read this article for “free” or pay some “expert” to join their “course” if you prefer

Use pictures to make money on Medium — Credit: Marina Ryazantseva

I don’t know why I’m writing this article because people never listen. But I’m also an optimist and can’t help hoping that someone, somewhere, for once, will put my advice to good use.

#1 Way of making money on Medium is to avoid Medium

You will earn more money from any regular job, even unqualified ones paying the minimum wage.

It is the truth, and I know you don’t want to hear it, but I thought it was the honest way to start.

However, there’s a (very) small probability you will be the next MrBeast, get 1,000,000 followers, and make real money on Medium.

Since you’re a writer, you’re delusional and will prefer to think this is your chance instead of realizing that this probability is so low that if I framed it in terms of life and death, you would never risk it.

If you take this pill, you have a 99.999% chance of dying and a 0.001% chance of becoming attractive like a movie star, intelligent like Einstein, and a billionaire. Do you take the pill?

Even Medium says it. For example, in this article by Buster Benson:

“Our recommendation is that the Partner Program is considered a supplement, rather than a replacement, to a consistent and predictable full-time income.”

#2 Move to a low-income country

Point 1 is valid for anyone who lives in the USA but less so for people in poorer countries.

Why?

Because $500 doesn’t have the same purchasing power in Australia, Italy, and Malaysia.

So, if you’re willing to move abroad or live in a low-income country, making money on Medium could be a reasonable financial strategy.

#3 Publish 3 articles per day

And use the spammer strategy, which I described in detail here. In short, you need to bait people into reading your articles by showing up in their notifications (follow them, clap and run, comment, subscribe to their stories, etc.).

Pro tip. Your comments should be meaningful and genuine.

I can’t believe people still fall for this in 2024, but apparently they are. So, if your ethics allow for this, enjoy the $1,200 (estimate) you’ll make from it.

It’s a lot of work, by the way. So, you might want to consider other means of making money depending on your location (see points 1 and 2).

#4 Become friends with the boss, create a publication, and become a booster (nommer)

Nommers make $45 / accepted nomination. They can nominate 20 monthly or even more if their acceptance ratio is high enough. That’s $900 if you get 20 accepted.

Several nommers share their numbers. One said he successfully nominated 200 stories since the “pilot” program began in March 2023. That’s $9,000 or about $800 per month from nominating stories.

NOT from writing them.

Few writers make $800 / month from their stories.

#5 Don’t write what you want to write. Write what Medium wants to boost

If you want to make money from your writing on Medium, this is so obvious that I don’t understand why people don’t do it.

That was rhetorical. In fact, I understand.

The main reason is that it’s a lot of work, and writers prefer to write whatever they want and dream of winning the lottery ticket of the viral article that will make them $10,000.

This delusion is consistent with the delusion of point 1, where I told you writing on Medium to make money wasn’t a good idea.

If you want to know more about the boost and increase your chances of getting one, read this article by James Bellerjeau.

#6 The Classic: Write about making money writing on Medium

This article is an example, but that’s not enough to make money from Medium consistently.

The strategy can work, but it’s hard work.

You’ll need to write all the time about making money writing on Medium, Substack, LinkedIn, Twitter, Newsbreak, blah blah blah.

It’s ironic that people who buy into this don’t see the parallel with a pyramid scheme.

Assumption. Someone is so good that they know how to make money writing on Medium.

Question. Why not make money writing on Medium instead of spending their time explaining how to make money on Medium?

Mmmh?

Public Service Announcement: writing cohorts where all the participants read, like, and praise each other’s stories are nothing but another Ponzi scheme and won’t work long-term because nothing is genuine about them.

Pro tip. If you want to use this strategy, the best is to combine it with a YouTube channel.

#7 The Variant — Coaching

At least you’ll learn something valuable.

I don’t particularly recommend hiring a writing coach. But if you’re willing to spend money, it’s a much better value than any subscriptions to any “Secret Badass Genius School Of Making Money on Medium.”

I mean, except for mine, which you can find here.

Take the example of Roz Warren, Writing Coach . She’s a Medium writer and a writing coach, and she’s open about making much more money from her coaching than her writings.

“In 2023, she made $4,183 from publishing on Medium and $18,173 as a writing coach and editor.”

BTW, if you’re looking for a good editor, read this piece she wrote and check out the comment section where several of her customers left positive reviews.

(I’m not one of them and wasn’t paid by Roz to promote her.)

It’s not impossible to make money on Medium

But there are three things you need to remember

It’s not a reliable source of income
The hourly rate is (ridiculously) low
It’s hard work

Follow me on Substack to learn how to make money there (or replace Medium with Substack everywhere in this article).