Graphic designing is a worthy skill that can make you earn in millions if only you know how to sell your art in the right manner. It is also true that for a valuable skill you should charge an amount that does justice with your efforts. As a graphic designer, there are many factors that shall lead you towards making a living through your work. A talented, well skilled designer usually know the game and they are pretty good in getting good clients on board and making an impressive portfolio to sell their talent in the market. However, as a new designer in market, it might be a challenge to sell your skills as new entrants are not much familiar with the tariff and rates.
Here are few things that will allow you to predict bidding rates as a new graphic designer in the market!
Check the market rates
Check out the freelancing websites such as Fiverr and Upwork and go through the rates quoted by new entrants and professionals both on their gigs. Do a contrast of the average rates by them and predict a suitable price that you shall quote to your very first client.
Project Rates vs. Hourly rates
There is a different pricing schedule for projects and if you work for someone on hourly basis. All you have to be careful about is what goes out of your wallet before deciding your charges. As a freelancer or home based designer, you have to sensibly evaluate your overheads which includes the electricity and internet. If you are based in an office, your cost breakup shall also include your office expenses. If you use any subscription based resources such as Shutterstock, its subscription break-up shall also make its place in your invoice.
Apps and Software Cost
Apps and Software are paid and as a designer you should recover the payment through your work especially if your client is not tech savvy and doesn’t know much about technology and its cost. Photoshop costs $20 a month while Adobe CC kit costs around $45 a month. If you are using one of the apps from Adobe kit, each might cost you somewhere around $20. There even are paid invoice generating software which you might need to use.
Taxation and Licensing
If you work in an office or even as a freelancer in a country where your income is taxed then you must include the taxation in the invoice to get your expense recovered. Licensing of your work is based on the media in which your artwork will be used by the client. For example if you are designing a billboard or a print ad, it is going to be charged high than a flyer, brochure, visiting card or a social media creative. Similarly, website designing also has a different schedule of cost.