How the heck do you calculate your rates as a creator?!? 💰📸
If you’re a creator who is struggling to set fair rates or maybe you’re just curious about this entire industry… here is a sneak peek of my method for calculating rates! 🤫
To make this process a little less daunting and easier to calculate, I like to break it down into these categories-
👷♀️ Labour Rate:
This is what it costs to actually create the content, start with a reasonable hourly rate (somewhere between $20-40 an hour) and add in any additional costs (props, softwares, photographers, outfits) needed for the shoot.
Example:
$25/hour x 6 hours + $50 for editing software & props = $200
💗 Impact Rate:
This is where your community and influence can really increase your rate. Factors like engagement rate, follower number, past partnership performance and affiliate sales can allow you to set your rates higher!
Example:
10k followers, 3% engagement rate = $400
Impact Rate + Labour Rate =
💲 Base Rate: $600 🎉🍾
…but it doesn’t end there, things like exclusivity, usage rights, rush fees, virality clause and so much more can increase your base rate (sometimes by a lot!!)
** example is for a in-feed static post on Instagram, rates can fluctuate and this example should be used as a guide only. Prices are before tax.
As always, if you have more questions about setting rates leave a comment or send me a DM 💌
I believe rate transparency is the first step to fair pay in any industry, and the creator economy is no exception!!
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