If you’re a logo designer, you’d appreciate the level of exposure Upwork can give your career. Your profile can reach thousands of prospects, and you could get lucky and land a high-paying job in a short space of time.
Furthermore, the platform gives you the liberty to set your hourly rate for logo design.
However, I can tell you that the pricing process isn’t a cakewalk.
First, you must ensure that you’re neither underpriced nor overpriced, according to the standard average rates on Upwork.
Since logo design is often categorized under graphic design, it might be challenging to get a suitable range. So, what do you do in such a situation?
In this piece, I’ll share some handy tips on setting your Upwork logo design rates properly. I’ll also show you a comprehensive chart on standard logo design prices and related services.
As you set your rates on Upwork for the first time, it’s essential to consider a few things. First, as I’ve mentioned, you must not overprice yourself, as that immediately increases your visibility among prospective clients. On the other hand, you don’t want to underprice yourself, especially as a logo designer. That’s because you run the risk of getting overworked that way.
Beyond that, logo design services have such an ostentatious value. Clients tend to associate a cheap logo design with shabby work. As a result, the customer will most likely think they’re getting subpar work if your rates on them are much lower than what’s obtainable elsewhere.
Use A Sustainable Point
A sustainable point has been helping numerous freelancers, and I believe it could help your freelance logo design career. Simply put, sustainable energy is a financial value at which you keep running a freelance account without spending more than you earn. You can calculate your sustainable point by putting your yearly income against your living cost.
You can use the value you get to set an hourly rate for logo design on your Upwork account. If you wish, it could be a base on which you can peg the rates higher.
Consider Long-Term Goals
Setting an hourly rate for logo design services with a sustainable point is okay, but what happens five or ten years later? Remember, all your financial indexes are constantly changing, so your freelance rates must also be dynamic.
It would be best if you considered a long-term goal for your rate, which would determine how much you intend to earn in the subsequent years. You can calculate it by factoring in your current tax estimates and living expenses. That could help you to come up with your new rate.
One of the advantages of prioritizing long-term goal rates is that it would make you earn much more seamless, especially when you’re looking to expand your portfolio or acquire more skills.
Typical Price List Sample to Note
Below is a chart sample of current rates on logo design and other related services in the industry. The values are also consistent with what obtains on Upwork and other freelance platforms as well:
|Photography (per hour)||$40||$100|
|Basic Website Design||$500-$1000||$1500-$5000|
|Avg Hourly (hourly)||$40||$100|
|Magazine/E-book (~32 pages)||Nil||$1800-$2600|
|Flyer/Poster/Full Page Ad||Nil||$150-$350|
|Static Social Banner||Nil||$30-$100|
I must mention that the data was initially released in 2021, but it remains valid for the average logo design cost in 2022, with minimal changes to boot.
You can also notice the massive difference in price ranges between the entry-level graphic design hourly rate and the expert one. Moving further down the table, some graphic design services don’t have beginner-level pricing. That’s most likely because clients prefer to seek expert experience, even if they have to pay more.
Overall, the table should be your guide in pricing your logo design skills and the other related services you might offer.
How to Make Quotes Correctly
We’ve reviewed how to set your rates for logo design jobs on Upwork properly, but how about custom client projects? The customer might have a specific need in mind and might not correctly fit the price structure you already set. What do you do?
You can make a quote for the client and use a custom rate to make the calculations. However, you must understand how to place quotes correctly. This is to avoid the familiar problem of either overpricing or underpricing your services.
The crucial things to consider when quoting a price to a customer are the nature of the project, its descriptions, and specifications according to the client.
These metrics let you get the estimated time it would take you to finish the job, then you can charge for it appropriately. Beyond that, you must also consider the client’s personality and how much of it would influence the job.
Lastly, starting with a price range in mind when quoting a client is much better. That allows both parties to negotiate back and forth, reaching a favorable agreement. While at it, ensure to review the editing and other minor details before a deal. With that, you can give a quote that adequately caters to that.
As a logo designer on Upwork, you might find it challenging to differentiate yourself from a general graphics designer, especially regarding service pricing. However, settling on a rate consistent with the industry average and your skill level is important.
That’s why I’ve taken the time to hand out tips on how to set logo design prices for the best-earning possibilities. You’d also find a nifty pricing table to gain better insight into the process.