How To Price Your Work
I’m often asked how I find a price for my work, but like with other industries the market mostly sets the price and the client will tell me what they can pay. If it’s not enough, I suggest the usual market rate for the work, before walking away. If the price is acceptable, I always ask for a little extra on top, and occasionally I’m offered more than expected.
I make it a rule to always try to push my client’s price up a little. Our industry is rewarding in many ways, but its value can be easily undermined. I’ve found small renegotiations, especially in the early stages of a deal to be helpful in highlighting the complexity and difficulty of this vocation to the market.
I begin by explaining an extra source of value that’s being delivered. In assignment work perhaps it’s shooting additional drone footage, running two cameras in an interview, or collecting model releases. In self-directed work perhaps the journey required risking security, or maybe it’s very rare coverage. But make sure this extra value is something that you’d do anyway, don’t add more to your plate.
Then make sure the rate will cover all of the costs you’ll incur, plus a healthy profit. If you’re pricing a self-directed project, something that’s already been made, you may have spent six months racking up cost, the sum total of which will blow the budget of a single buyer. But because you own the copyright to this work you can find many forms of income for the one project - you can sell to multiple outlets, get some crowd funding, a grant, an exhibition, some print sales, and maybe win a competition.
For single client assignment work, make sure to predict all expenses before the rate is agreed. Expenses usually come out pocket, without care they can mean the rate will be insufficient. My expenses are normally things like gas, flights, hotels, food, rental gear, hard drives, security things like ballistic vests or helicopter evacuation, and mailing. If the client’s budget is lacking, and only leaves a meager profit, let them know. Explain the costs involved and ask for an increased rate or help with costs. Often clients won’t realize additional costs but have always been understanding when I’ve given them a breakdown.
When planning your profit, you’ll also need the previous day for setup, to make calls with the client, and fill out paperwork. These prep days are normally included in your rate but be careful admin tasks requested by the client don’t get out of control. Then you’ll need the day after shooting to upload, mail drives, backup, invoice, and return rental gear.
Photographing and filming can be set at a flat rate, a day-rate, because a day of labor is always a day of labor. But editing is where subjectivity and scope creep can rear their heads. Questions like, “can you just remove the wrinkles around my eyes on all these images?” And “Oh, I wanted some motion graphics through this video,” begin to pop up. Personally, an hourly rate works best for editing. Water-tight contracts are so hard to create, and often your client will find a crack in your armor. So a solid hourly rate, reinforced by detailed daily or weekly timesheets holds everyone accountable.
Giving actual financial figures is tough. Much is dependent on medium, industry, and brief. But here’s some ballpark guidance…
For filming, any industry, documentary or commercial, I like between $1k and $2k per day but will accept $800 if I’m hungry for work. Any less and the expenditure of energy and time to fee is becoming unbalanced. For photographing documentary or news, it’s normally between $500 and $1k per day. Commercial photography can bring in $1k plus. And for editing of any kind, I’m trying for $80 per hour.
Selling self-directed documentary work - for still image projects most outlets will take 10 photos, plus some text, and pay between $1k and 2k. In video, most will buy a 5 min film with a little text, paying $3k to $5k.