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Anyone who's worked freelance knows that one of the hardest things to do is decide on a suitable rate for your efforts and time. It doesn't help things when what you might consider a good rate would be regarded as a pittance in one country but enough to live like a king for a month in another.
The way I've always seen it is like this. If you can get more per hour flipping burgers at the local Macdonalds, then that's what you should be doing. That's your baseline. After this it depends on what you think your time is worth and add on accordingly. Of course, that's not what the client thinks you're worth, which is going to be peanuts, but then thats the fight that all of us face in order to convince them otherwise...! You're on your own in that one I'm afraid...!
I'll open up and state what I get paid from Zenescope for colouring covers for them. It's $US120.00 a shot regardless of the lineart complexity. They initially offered me $US80.00 a pop but I negotiated upwards to something I was happier with. It means that foreign currency exchange and bank fees are factored in and while I inevitably still lose a bit with the Australian dollar being so strong against the US dollar its not too great a loss. It helps that I don't rely on this money for a living but is merely an added income to my regular day job of being a teacher, so I'm not desperate for the money. (That also means I'm not inclined to work for less however!)
At first I thought the Zenescope money was too little for the work. But I found that's because I was putting too much effort and detail into things. Stuff that wasn't necessarily visible in the final print anyway, so it was all for nothing. Over time I've streamlined my process, something which was aided by Zenescope getting the the lineart to me late on several occasions forcing me to do 5 nights easy paced work in 2 somewhat hectic nights and so on. Plus the lineart detail varies from month to month. Some are more complicated while others are done in an hour or so! So it all evens out in the end.
Other freelance work I might charge more or less for. If it's for a con print in which you can print as many as you like and sell them over the course of a few years, it'll be more. If you're a friend and we've had a good relationship, it might be less. It all depends.
So, that's my opinion... The' clients from hell' website have a piece on this topic which I'll paste below. Worth a read as well IMO...
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From clientsfromhell.net
How to Raise Rates
A freelancer should be aware of what they're worth and how their rates are working for them. There are a lot of factors to consider - too many for this article alone - but the act of talking to clients about a raise doesn't need to be complicated. Here's how to handle it.
Every freelancer will charge too little at some point in their career. What you charged starting out should not be what you charge years down the line. You have more experience, more skill, and as a result of these two things, you can likely work a lot faster, too. Simply put, a freelancer only becomes more valuable over time, and recognizing this is important.
Competing on price and price alone is a pointless battle. Clients will often claim that they can get a man in Malaysia at one-tenth your price point, or that there's a fresh-faced kid who's hungry for your work. They're not wrong, but they are short-sighted. That kid might charge a quarter your hourly rate, but chances are it will take them four times as long, too. Plus, the lack of expertise or experience will be a hindrance that's rarely included in a cheap price point. There are a lot of factors that justify what you charge, and neither you nor your client should overlook them.
Your rates may impact how a client thinks of you. If you are charging significantly less than your colleagues, the question of 'why' may arise in a client's mind. You may reek of desperation or a lack of professionalism. Conversely, higher rates indicate a honed skillset and years of experience. Regardless, being able to justify your price point is important. Even if you're offering a low-rate to combat some last-second expenses, communicating this to your client is important.
Talking to your client about new rates is a matter of preparation. Most importantly, you need to be able to justify yourself. You need to know when other people are charging in your field and what the overall demand is. You need to know what how much money you need to be making to survive (which is a cost that will likely rise as you get older), and you need to be prepared for questions the client will ask.
Finding clients can be rough, but finding worthwhile freelancers isn't easy either. The important thing is to recognize your worth and to make sure your client does too. If you're professional, polite, and your work arrives on time, a client will not want to let you go. The thought of having to hire some unknown is often enough to get clients to cough up a few extra dollars.
"No" shouldn't even be an option. This may seem like hard-line advice, but it's true. If you've done your research and you've assessed that, yes, you're not getting paid enough, then you need to practice what you're preaching. If a client simply won't or can't pay higher rates (and you want to keep working with them), talk about scaling back responsibilities or other forms of recompense. Negotiation is fine, but you got to this point because the status quo needed to change; don't forget that.
As with most things in freelancing, you need to look out for your best interests when it comes to pay. Only the most heavenly of clients will broach the topic of unfair rates, and only the most fictitious will outright exceed your asking price. Take care of yourself, and don't forget that you're worth something.
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Cheers
Sean