Money
Either:
- the client tells you what the budget is and you have the ability to accept, negotiate, or decline the amount
OR
- the client asks what you will charge and you have to come up with an amount
We then discussed the different questions you should as to educate your price in the event of the second occurring.
How will it be used?
This is in regards to print run, territory and exposure, copyright, and time scale.
Expenses?
Will you need to purchase any supplies in order to complete the work?
How long will the work take?
For this you should decide on an hourly rate, which was a bit confusing to me, as I was unsure as to whether this would then cover breaks etc.
Clients profile?
If the client is a well known company it would ensure you would receive exposure which in turn could mean you should demand a high price. Alternatively, bigger companies may be able to afford to pay more and should you then demand more money.
Do you want to do the job?
This is important as something you'll enjoy doing might mean you accept less money than doing work for a brief that you dislike.
What is the going industry rate?
Editorial
- Front cover £350-£500
- Full page (inside) £250-£400
- DPS (inside) £350-£500
- Half page £200-£300
- Quarter page £150-£250
Publishing
- Front cover £450-£800
- Reprint/New territory usage 50% original fee
Design
- Brochure cover £600-£800
- Insides £150-£300
- Spots £50-£100
- In house poster for PLC £600-£800
Children's Books
-Usually based on page/image rate
- just illustrating £2500-£3000
- educational = less v story = more
Advertising
-Fees vary dramatically based on client
-Style not ideas
-Usually work from their sketches
-Above the line = mass media v Below the line = individual bespoke
- Press ads local/In house £500-£700
- Press ads national £1500+
- 48 sheet poster (billboard) £6000+
We also discussed should you ever and when it is worth it to work for free.
One example is when it is for a pitch or speculative work that has been suggested by an Ad Agency, as this could lead to a potentially huge job. Another is for charities, or companies such as the V&A as it is providing you with exposure and filling out your portfolio with live briefs. It is also a great way of gaining experience and could lead to other opportunities. Ian did point out that you should try to charge for expenses as there is working for free, and then there's paying to work. He also made the point that we need to be careful to avoid being exploited, as recent graduates are particularly vulnerable to this, and to not let it lead to the erosion of fees and undermining of the profession.
Invoices
Another topic we went over was the matter of invoices. He gave us some tips by showing us an example which I have detailed below.
Include:
- your logo should be personal, be professional, stand out, brand you, and identify it
- invoice number from your own numbering system
- a date and keep a record for assistance
- customer reference through a number or who you have worked with
- bill to name and address (call to check who this should be)
- quantity/job description/amount to justify why you are being paid
- commissioned by.../issue no./date of use
- your account details to be paid into (possibly an international bank number)
- address/email/phone number
Tips:
- Keep a copy of all invoices
- Keep records of payments/outstanding balance
- Only send an invoice after work has been accepted and wait a couple of days
- Call accounts department after 1/2 months
Overall this workshop gave me a lot of information that I feel is necessary knowledge for anyone hoping to work in this industry and I would of had a very hard time trying to work with a client if I did not attend. Thanks Ian!
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