Graphic Design Pricing - What's a good designer worth these days?
Attention, freelance creatives: read this article by Shaun Hensher on how to approach pricing for your work!
This is a great start, helping you wrap your head around why you would charge a certain amount for this or that kind of project. Though one thing I’d recommend is to boost his “Bare Minimum” from $100 to at least $250. If you consider that a single project—say, a standard editorial illustration—may take you on average of 8-10 hours to complete, charging $100 means you just worked for minimum wage. No, we don’t usually “charge by the hour,” but it’s important to think of things this way when you add it all up each year come tax-time.
This has inspired me to post a follow-up (of sorts) where I’d like to apply some more long-term thinking and planning (because I don’t have enough to do already!), and examine the cause-and-effect of lousy pricing in the illustration field.
This article is directed at client-types, but I think it’s important for freelancers to read this too, and think about whether or not you’re pricing your work in a way that benefits you and your business.