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Thread: Fair rates?

  1. #1
    Join Date
    Dec 2012
    Location
    Hazel Park, Michigan, United States
    Posts
    117

    Question Fair rates?

    Hey everyone, haven't been here in a little while, been super busy these days. For those of you who do charge to film and edit video, how do you come up with an accurate fee? And what's considered the average going rate for video work these days? Hourly or by the job? I have been working with Michigan based artists for almost 2 years, and I'm pretty sure I'm under-charging my clients (well nowadays anyways, since the quality of work is night & day comparing then till now). I know that around here, people are hit hard by the state of the economy, so it's a real fine line to walk on, making sure you can get steady work without losing money on the venture.

    So I'm curious as to how much you think a video such as the following 30 minute live performance is fairly worth? The video is already bought and paid for, I'm just wondering around how off I am.


  2. #2

    Default

    Hard to judge by pricing by watching any video. I base projects on filming time @75 per hour (2cams) and edit time @45ph. Travel time is costed same as edit time.
    Every job is different! some take 2 hours to get to work site, then project time + reshoots/add ons, conversions, DVDs all take time, so my calculations make sure I'm not down to big Mc rates.
    The last live band shoot worked out at 500, but only cause I asked what their budget was and this allowed a spare hour or two to add a little more polish.
    This is probably the first question you should ask (your quality has improved, so you should be in demand) and their answer will reflect just how popular your style is.

    Other than that, work out how many hours you spent setting up, filming, editing, converting and uploading the above, divide the ammount charged by the hours and you then have an hourly rate. Is this rate enough (and regular enough) for you to continue in business?
    Only you will have the answers!
    My opinions are just that . . . Mine. It's not personal, but is based on my emotional and professional reaction to requested critique. If you choose to ignore constructive comments, I'll just assume you're a vanity poster and not posting to improve your filming and editing skills.

    Ex A.P.V Videomaker of the year - Ex M.M. IOV Come join my EXclusive club

  3. #3
    Join Date
    Dec 2012
    Location
    Hazel Park, Michigan, United States
    Posts
    117

    Default

    Awesome reply Zero. I'm definitely undercharging. Not to mention we're really the only one around doing this type of thing in our area. Now I need to branch away from mainly doing the heavy music, and see if I can get known by other more popular genres/scenes around here.
    Last edited by Prolifik; 02-16-2014 at 04:44 PM.

  4. #4

    Default

    Interestingly I'm charging the same rates as Zero except I charge mileage at 0.65 per mile instead of 45 per hour, which depending on how fast you're driving isn't that far from it.

    Quote Originally Posted by Zero View Post
    Other than that, work out how many hours you spent setting up, filming, editing, converting and uploading the above, divide the ammount charged by the hours and you then have an hourly rate. Is this rate enough (and regular enough) for you to continue in business?
    Only you will have the answers!
    A couple of things to add to this.....

    • Add the actual cost of your travel
    • Add a pro-rata cost for your insurance
    • Add a pro-rata cost for your accounting / tax returns (something most people forget)
    • Add a reasonable amount for equipment depreciation (it doesn't last forever and will need replacing out of the money earned).
    • IF you are working on this full time (I realise many people aren't) then you also need to add the cost of down time (when you're not working)

    Deduct all these BEFORE you divide by your hours to get your hourly rate. Once you do this it's easy to see how many people are working for minimum wage or less and not realising it.

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