From the course: Running a Design Business: Pricing and Estimating
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Determining your rate based on industry standards
From the course: Running a Design Business: Pricing and Estimating
Determining your rate based on industry standards
Another way to determine your hourly rate is to look at some industry standards. These are objectively established norms, usually acquired through formal surveys. There are a number of sources for wage and salary information. The US government, through the Department of Labor's Bureau of Labor Statistics, publishes data pulled from tax records and other sources Annual salaries for nearly every profession, including creative ones, are given. So that's a starting place, and it's free. Go to bls.gov and search for wage data by area and occupation. Probably, a more accurate resource for designers is the AIGA, a design organization that works with a staffing company called Aquin to survey their members and collect wage and salary information. They publish it in a survey of design salaries report. It's a free resource that you can download annually. How does that help you determine your hourly rate? Well, first, review the survey and find the annual salary that best matches your experience…
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