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Just look at your current paycheck and you will figure out your value as an employee in a company. But when it comes to freelancing, valuing your work becomes trickier. In freelance market you will find people charging on hourly basis and some people on per project basis. Finding a right price is a tough and can be more challenging considering the competition in the business. So in this article we will take a look at some numbers and help you to calculate the value of your artwork.
Again I will be giving you the approximate value of a project. The value may differ depending upon the nature of situation and project and most important location(City, Country) . This is just to give you basic idea so that you can calculate your own value as a freelancer.
Normally, it is not a good idea to steal ideas from others but in this instance it is a good idea. You will have to find an artist with approximately equal skill as you, and find out how he charge his clients. This will give you basic price estimate. Then find out how he/she negotiates with the client. Just because the artist is asking for X amount per hour or per project does not mean that the client is willing to pay that much. Find as many artists as possible to find the average before finalizing on final cost.
Find out salaries of artists that work in a studio to calculate your worth. For instance, take a salary of midlevel artist, and divide it by number of hours worked per year. With approximately minimum 60 hrs per week , multiplied by 52 equals around 3100 hours per year.
This calculation does not include incentives and benefits and insurances. You might want to include these factors in your calculation.
Looking at what other people is charging is a good way to calculate your worth, but in the end it is your life and it is your profession. Working on daily wages is not at all affordable, you should fine more ways to charge your client. If someone is charging on hourly basis you can drop your rate by a little margin and offer exciting discounts to attract more customers and clients. You should not allow guys you have never met control your paychecks. Set a fair price and make sure that your prices are competitive and adapt to the changes in market.
Feel free to share your thoughts on this in comments below and initiate a good discussion.
