How to Set Prices as an Illustrator (for Beginners!) | Episode 39

Nothing held back in this episode! I finally tell you exactly how I priced my illustration work when I started out as an illustrator - and to a certain extent, how I still price my work today.
TIME STAMPS
1:11 - NEWS
2:10 - CHIT CHAT
5:46 - THE QUESTION: How do you set your prices?
6:22 - Two Pricing Scenarios: When the client offers you a set rate vs. When the client asks you for a quote
8:22 - How to Set Your Base Hourly Rate
13:23 - Factoring in Overhead Expenses
14:15 - Advantages of Using a Base Hourly Rate
15:03 - How to Set a Day Rate
15:24 - Example: Pricing a Band Poster (Using Your Base Hourly Rate)
19:33 - Why You Should Never Charge by the Hour
22:00 - Value-Based Pricing and Owning the Copyright
24:50 - What is Buyout?
26:00 - Recommendation: Pricing Guide for Illustrators
27:45 - Your BHR Helps You Determine What Jobs are Worth Taking
SHOW LINKS
Hourly Rate Resources
More complex: www.creativeli...
Very simple: www.yourrate.co
On Copyright Ownership
theillustrator...
On Work for Hire Contracts
Biased! www.thelittlec...
Less biased: www.theinformed...
Graphic Artists Guild Handbook: Ethical and Pricing Guidelines
graphicartists...
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Find me elsewhere:
Skillshare: tomfroese.com/t...
Instagram: @mrtomfroese
Twitter: @tomfroese
Web: www.tomfroese.com
Behance: www.behance.net/tomfroese
#freelance #illustration #freelancerate

[@ellalama6655]

Thank you for talking about this, Tom! It's really helpful to learn these things from more experienced illustrators 😊

[@chloejenkins983]

Thank you for this video!! I've watched a lot of videos about how to price your work as a beginner, and many of them don't go through the actual numbers. Almost none of them discuss realistic expectations, and this one covers both! Very helpful for me since I'm just recently exploring the business side of illustration. I especially like the advice of not telling clients your hourly rate. I've never heard anyone give that advice, but I have absolutely made that mistake, and immediately regretted it!

[@TomFroese]

Hi Chloe, thank you for your comment. I'm so glad this video helped you!

[@juanpablocervantesrios215]

The actual video starts at 6:20

[@TomFroese]

I get it - I need to get to the point earlier on in the video! :)

[@niccimartin9212]

Hello from Cape Town, South Africa! I'm a great fan. Thank you so much for taking so much time to share this knowledge so freely and empowering artists around the world! Super helpful!

[@Teska_and_Theodore]

Thanks Tom, this was SUPER helpful, escpecially with the real numbers. Ive seen some other videos about this, but this one was by far the most useful. Im also glad to see you are doing much better again, you look a lot more like your usual self :)

[@bethsnider5796]

I am a full-time professional illustrator as well, and I concur with everything you said here! This is exactly the thought process I have when pricing.

[@TomFroese]

Thank you, Beth!

[@lidiafedorova5598]

Thank you, Tom! As always VERY useful and amazingly structured information 🙌

[@easternwesterner]

That disdain when he's saying "slapping on googly eyes", hahaha :D Feels like some personal experience right there.

[@teddtucker713]

Thanks for sharing your experience

[@elenajimenez]

I really got emotional with that comment. Thank you for this video.

[@TomFroese]

Thanks, Elena! Yes, it was a moving note to receive for sure!

[@astridgrabner2836]

Thank you so much, this helped me a TON in deciding how to price my work!

[@TomFroese]

Glad it was helpful!

[@erwandomine6563]

Not so many views, but those who watched and took notes will have successful careers, I'm sure of it ! Happy doodling yall.

[@TomFroese]

We'll get those views eventually. May have to re-do this video. Thanks!

[@ElizabethLionesChan]

thank you this was great 🥺 hugs from brazil

[@rianeguefaifia6720]

Thank you so much really helpful !

[@TomFroese]

You bet, Riane!

[@stefwongcreative]

Tom, thanks for this helpful video. I'm new to the illustration scene and was approached to do an 8.5x11 piece for a self-published children's book. And they are requesting commercial rights. Without giving me a number, they said their budget is limited. How would you suggest I respond? I'm excited for the possibility of this job but don't want to corner myself.

[@TomFroese]

Hi! Specifics on pricing is tricky. If you have time, I would recommend you get a copy of this book: graphicartistsguild.org/product/the-graphic-artists-guild-handbook-pricing-ethical-guidelines . In a pinch, you can use the formula I describe in this video to work out simple pricing. You're new so any time you get paid to illustrate is a net positive. Just don't sell yourself short. Good luck!

[@sergioguillenberrocal9751]

Thank you :3 from a fellow illustrator :j

[@TomFroese]

You're welcome!

[@eugenekulaga5938]

Hi Tom, here's a confusing part. We have already divided total annual workable hours by 2 (1960/2=980), I assume that gave us the billable hours amount already? And then you suggest to divide everything by 2 again? Then, when you reverse the math, you won't get the target salary. That means one's billing for just 1/3 of the time.. Thanks!

[@TomFroese]

Hi Eugene, thanks for your question. It's very possible I messed up my math (I am very buggy when it comes to math). I did quickly review my own equation and I don't think I ever said to divide by 2 twice. I simply said to divide your total working hours by 2 (in this example) because you're estimating having only half of those 1960 working hours to be billable. Where else did I say to divide by two? Is it possible I was summarizing/restating the equation, not adding more operations to it?