Hello everyone, It has been really long time since I opened a thread here. I was wondering for quite a while about this question and decided to ask you guys and girls!
Hourly rate, well sounds professional but how does it even work? For e.x my hourly rate is 35/per hour (just an e.x). Lets say someone is asking me for a simple logo replacing?! It will take like 10 minutes working on colors, placing and then rendering… I won’t ask for payment for my 10 minutes right?! So should I ask for a full hour payment? Asking for 35$ for any kind of work sounds very low. Therefore I’m usually asking around 100-150$ for such work… which doesn’t have any relation to the hourly rate. Well lets say you have a work which will take you 5 hours to make. Will you ask for 175$ for such a work when you just asked for 100$ for a 10 minutes work? Doesn’t even sound logical…
So how do you set up a price for projects?! Is there any straight forward technique that helps you calculate it? The examples I gave you above really confuse me and I would like to know how you deal with those things!
I’m asking this everyday myself…. Cant find the right answer… But i think, every person\designer should have his own price list for small jobs like customizing templates or logo intros and use hourly rate just for a big projects.
I have a minimum rate for small tweaks which is two hours at hourly rate. Although the work may only be 10 minutes there’s other elements like rendering, email conversation time, compression etc. It all adds up.
Hourly ? You guys are fast! My minimum is a half day work. Or project based (means no matter how long i spend on a project i get the amount we settle beforehand)
Hey guys, thanks for replaying
@Smudgethis Then how do you rate bigger project? How will you value a project you have to work on 5 hours? Will you just multiply the rate by 5? It means that you get for a project of 5 hours a payment of 2.5 small projects… I hope I made myself clear on that… If this is the case it is much better doing those small projects no? Just customizing intros all day getting for each 100-150$ and working like 30 minutes (adding e-mailing and everything else) on each…?
Mexico – 3 years every month – AP layers, to made logo animation ( 5 sec) 25$ AE Project for Canada (no videohive) 150$ USA same etc…................... depends but USA Australia Canada German etc are buyers others are workers…......
It is rare that I take on smaller projects like that and 99% of my work is invoiced at day rate. For larger projects I give a quote based on how many days it will take from start to finish and apply my day rate. I charge the two hour minimum for taking on small tweaks/customisations etc. just because they don’t come around too often and more often than not, they interrupt my working on larger projects and therefore I need to compensate that.
Yes it is potentially a very good business model to work on just customising templates and if you could set up a business where you do just that and are taking in ten or more a day then yes, you would make a fortune, the profit margin would be massive.
Larger projects may pay less but at least I only have to get one of those a month to make a good living as opposed to thirty or forty template customisations.
Hey guys, thanks for replaying @Smudgethis Then how do you rate bigger project? How will you value a project you have to work on 5 hours? Will you just multiply the rate by 5? It means that you get for a project of 5 hours a payment of 2.5 small projects… I hope I made myself clear on that… If this is the case it is much better doing those small projects no? Just customizing intros all day getting for each 100-150$ and working like 30 minutes (adding e-mailing and everything else) on each…?
In the Essential Resources For Authors thread you will find the Motion Graphic Design Census for 2010 (search Census in that thread). This has details of worldwide freelance rates as well as a whole bunch of other interesting stuff. I would assess your own skill level fairly and base your daily / hourly rate on this.
Yesterday I got my first opportunity to do freelance, to be honest I don’t know exactly how much to charge, etc. But here’s what I have so far:
How does that sound for a “beginner”? I will be using After Effects mainly.
Also if you have any other advice to give me don’t be afraid to post it!
i think project work should all be project-based, not just hourly… 10 minutes to change somebody’s logo and render it for them isn’t worth as much as custom animation and video and keyframing changes and all that… just common sense, price by complexity and how much time it takes you, then develop pricing guidelines based on project type and difficulty.
and also opportunity cost; if you take 6 hours to do a $200 project for someone, you get paid just once, but if you take 6 hours to make a vh template that’s a good one and sells well, you could make more.