Join Terry Lee Stone for an in-depth discussion in this video Determining your rate based on industry standards, part of Running a Design Business: Pricing and Estimating.
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 level and geographic location.…
Author
Released
11/14/2013- Thinking about money
- Factors to consider when pricing design
- Comparing time-based vs. component-based pricing strategies
- Scoping a project
- Determining your rate based on factors like industry standards and budget
- Creating estimates
- Communicating additional costs
- Invoicing the client
Skill Level Appropriate for all
Duration
Views
Related Courses
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Running a Design Business: Designer-Client Agreements
with Terry Lee Stone1h 10m Appropriate for all -
Running a Design Business: Creative Briefs
with Terry Lee Stone1h 13m Appropriate for all
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Introduction
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Welcome1m 17s
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1. Money and Attitude
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Attitudes about money2m 58s
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2. Pricing Factors
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3. Pricing Strategies
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Time-based pricing strategy1m 55s
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4. Hourly Rates
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5. Estimating a Project
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6. Pricing Challenge
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7. Clients and Money
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Ten payment strategies4m 17s
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Raising your rates and fees2m 54s
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Winning the business1m 26s
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Conclusion
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Next steps35s
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Video: Determining your rate based on industry standards