A while back I did a discussion post asking people to share their rates for what they charged for specific services and products. While that turned out to be a pretty helpful discussion for those new to the freelancing world, I wanted to start a similar discussion for those who are more advanced in the freelancer world.
What I would like to talk about today is how you set your prices.
When it comes to tangible products its pretty easy to figure out a price. You just take the cost of the product and increase it based on supply and demand. An old rule of thumb is a 75% increase based on what you pay. Obviously this isn’t always the case as supply and demand can play a major role in pricing.
With digital products and design services though it isn’t that easy. There are a lot more factors to consider and usually a lot less costs involved. Some people set their hourly rate based on skill level, while others come up with their hourly rate based on how much money they need to survive.
I know there are a number of tools out there to help you get that magic number, but I am more interested in hearing how established designers, developers, and freelancers have come up with their rates for hourly and per project charges.