Money is always a tricky subject, especially for first-time videographers or editors. While specific dollar amounts are extremely personal. There are baseline figures available.
If you’re like many who seem unsure what amount is right when it comes to pricing your services, we’ve compiled a few questions you can answer to help you determine just how much you should be pricing.
1. How Much is Your Time Worth?
The answer here depends from person to person. Of course, the more experience you have and the bigger your name means you could command a higher fee.
It’s important to know how much your time is worth because it represents the amount of work you will be devoting to the project. This could take days, weeks or hours, of your life. Also consider your skillset and the other avenues of work, brainstorming, deadlines etc., when deciding the amount.
A ballpark figure for most video professionals range around $600 for a full day’s work. It can be $300 for half a day. You can choose to divide your working terms in full or half-day options as well to make it easier.
Please note this is just for YOUR professional fee. It should not include other things like cameras, gear, car or travel expenses and more. These are separate costs.
2. What is the Cost of Your Camera or Gear?
Because of the accessibility of cameras, it’s expected for videographers to have their own camera and gear whenever they’re hired for shoots. If you are hired and expected to provide your own camera and gear, make sure to include them in your fee. All of these things cost money when you rent them so it makes sense they should be included in the fee if you’re going to use your own equipment.
To help you in coming up with a price, search online for how much these cameras or gear will cost if you rent them and use that pricing to gauge how much to charge.
It would help though if you get a clear idea of what the client wants. Do they want a professional quality film with three-point lighting setups, drone footage and more? Then make sure you include the costs of the gear into your price. There are some clients who simply want “cheap” or simple work to be done without all the fancy gear, so the cost would be cheaper. Be clear on this first.
3. Make Sure to Know Your Expenses
Most professionals don’t include their travel expenses whenever they do their work. For those starting out, it’s tempting to work for cheap or “exposure” in hopes it will become a stepping stone for other future clients. But cutting corners, especially at your own expense, during the onset will be problematic for you in the long run.
Make sure your meals and travel expenses are covered too. Remember, you’ll be paying for gas and the miles on your car. That’s your time, so it should be paid for.
4. Consider The Type of Job You Were Hired For
If you’re working in both shooting and editing, or just one or the other, then make sure to adjust your fees accordingly. If you are to price hourly, consider the amount of time it will take to render or to do the actual work.
Hourly rates sometimes range from $25 to $200 for basic editing work. The price can vary for the type of work you are hired for, your experience and the city you are working in. It’s really up to you. If you do prefer to price by baseline or for the whole project, make sure you have all of the details and possible expenses dialed down before providing a quote. This will save you and the client plenty of hassles.
5. Think About After Sales Service
If you did the video editing and the client wants tweaks or changes, make sure this has a fee as well. You might waive the fee for minor tweaks but if it’s major revisions, then tell your client it will cost them. It’s best to outline other fees in the contract or prior to accepting the gig. Also, make sure your client understands all the fees and agrees to it before signing up with them. Make sure to address any questions or concerns they might have above all else.
Figuring out your rates when providing video editing or videography services can be tricky. It’s the same though whether you’re working solo or working in a video production company. The important thing is you need to know what your skills and services are worth and to price reasonably and fairly, ensuring you can deliver top quality work your client will love.