I’ve been doing freelance work as an artist both full-time and part-time for the past twenty years. I've worked with massive Corporations, Ad Agencies, Tiny Boutiques, and everywhere in between. I’ve worked on projects creating artwork as a Graphic Designer, Illustrator, Animator, Live Events Designer, and Concept Artist for Films.
Here’s what I’ve learned...
You should be charging - on average - $100 USD per hour worked.
Why $100?
For the most part, this is what the current market can handle. Of course, this does vary slightly depending on where you live, the length of time you're contracted for, and the projects you decide to work on. But the $100 per hour standard is a great starting point from which you can go up or down. And by "up" I'm saying the sky is the limit.
For example, while working in New York I was charging up to $350 per hour for Advertising work. I’ve then had month-long contracts where I am able to charge $85 per hour for every 8-10 hour days worked. Then there are other times where there's a project that I am passionate about - with a small budget - where I end up making $65 per hour.
However, I would never go below $65 per hour.
Why?
It’s because as a freelancer, you are essentially a company.
You, as a company, need to cover costs like Taxes, Supplies, Software, Hardware, Advertising, other Professional Services like an Accountant, Utilities like the Internet, your Cell Phone, Etc. This doesn’t even include your personal expenses like Rent or a Mortgage, Food, Clothing, and so on.
Then take into account that freelance projects aren’t always lined up waiting for you to jump on them. Most of the time you are wondering when the next one will come along while you are ignoring the "now due" power bill. Factor all of these things in and you realize quickly that anything below $65 per hour just isn't enough.
So, how can you consistently make - on average - $100 per hour?
Luckily for you and me, the math here is easy.
Let’s say you’re asked to illustrate an article for a magazine with a fixed budget of $800 USD. Take $800 and divide it by your $100 per hour rate. This equals 8 hrs worth of work.
The next thing you need to ask yourself is, would I be able to do this project in eight hours? If the answer is a quiet, "probably not", then it might not be worth it for you to accept it. I've done this long enough to know that there is always another project right around the corner that will pay you the rate you want, but if you take this $800 project on you won't have time to take on the latter.
But what if you could do it in ten hours? Would you be ok making $80 per hour? Most of the time I say yes! Keep in mind that other projects will come along with more room to charge above your hourly rate. Thus averaging out what you make.
This same - $100 x Hours - equation also works for providing your client the answer to the most dreaded question of every freelancer, "Can you give us an estimate?".
Ideally, you've been keeping track of how long it takes you to create your artwork and that experience tells you the amount of time you'll think you need to provide a "cost estimate" to your client.
If not, then the other way is to make an educated guess.
Here's how it works...
Take your process for creating art and break it down into distinct stages. For me, these stages include a Research Phase, Thumbnail Drawings, Rough Sketches, Tight Color Comps, Revisions, and Final Artwork. Then take those stages and figure out how much time you think it will take you to complete each one. Now add them up and times it by your $100 hourly rate. This will be your estimate.
In conclusion, the most important thing to remember is to not sell yourself short. Charging low rates for your specialized skills will only hurt you and others in our profession. You have a rare talent, coupled with years of practice and schooling, that make what you do extremely valuable. Your expertise is worth it!
If this has helped you, or you would like to know more, please let me know in the comments section below.
Thanks!
Ben Simonsen
