A ghostwriter is a freelance writer who is hired to write books, articles, and manuscripts, without actually having their name on the work in the form of a byline. This means you basically do the writing and someone else puts their name on it. This may not sound fair and is not a good idea for those wishing to build up a writing portfolio, but it is a very high paying writing job. Therefore before you say ghostwriting is not for you, take time to sit back and work out if the money you are being paid is actually worth it.
Ghostwriters are some of the highest paid freelance writers out there. I have done a general browse around and found some of the high paying ghostwriting jobs to prove my point. One example on elance is a ghostwriter required to rewrite a first draft of a book around 250 pages. The client is willing to pay the selected ghostwriter up to $5000, thats around $20 per page just for rewriting. The job does state that there is no research required. Pretty easy money, here is the link to the ghostwriting job. Better be quick it shuts tomorrow. Another ghostwriting job which is still open is here. They will pay you up to $15 an hour, which is reasonably good freelance writing pay, for 10 hours a week. You could even fit all those hours into one day and make the $150 daily. This ghostwriter will be required to write blog posts, and articles deemed suitable for magazines.
In summary the benefits of being a ghostwriter are the high pay and the experience and knowledge and possibly further freelance writing work you acquire by being a ghostwriter. However the disadvantages are the fact that someone else is taking the credit for your work, and by being a ghostwriter your writing portfolio will never develop. I think I shall try and include some high paying ghostwriter jobs in my regular high paying freelance writing job posts from now on.