What are the pros and cons of charging per project vs per hour for your digital illustration work?

1 Per project pricing

Per project pricing means that you agree on a fixed fee for the entire scope of work before you start the project. This can be beneficial for both you and your client, as it gives you a clear idea of what to expect and how much to budget. You can also focus on the quality and creativity of your work, without worrying about the time spent on revisions or changes. However, per project pricing also has some drawbacks. You might underestimate the amount of work and end up working more than you expected for less money. You might also face scope creep, where the client asks for more work or changes that were not included in the original agreement. To avoid these issues, you should have a detailed contract that outlines the scope, deliverables, deadlines, and payment terms of the project. You should also communicate with your client regularly and set clear boundaries and expectations.

2 Per hour pricing

Per hour pricing means that you charge a fixed rate for every hour that you spend on the project. This can be advantageous for you, as it ensures that you get paid for every minute of your work, including revisions, changes, and feedback. You can also adjust your rate according to your skills, experience, and demand. However, per hour pricing also has some challenges. You might overestimate the amount of work and end up charging more than the client is willing to pay. You might also face pressure to work faster or cut corners, as the client might question the value of your work or the time spent on it. To avoid these problems, you should track your time accurately and transparently, using tools like Toggl or Harvest. You should also provide your client with an estimate of the hours needed for the project, and update them regularly on your progress and any changes.

3 How to choose

When it comes to choosing between per project and per hour pricing for digital illustration work, there is no one-size-fits-all answer. Factors such as the type and complexity of the project, the level of uncertainty and risk involved, the amount of control and flexibility you want, the preferences and expectations of your client, and the market rates and competition in your niche will all come into play. Generally speaking, per project pricing is best for simple, well-defined, low-risk projects where you can accurately estimate the scope and time. Per hour pricing is more suitable for complex, variable, high-risk projects with potential unexpected challenges or changes. You can also combine both methods by charging a fixed fee for the main deliverables and an hourly rate for any additional work or revisions. This way you can find a balance between the benefits and drawbacks of each method to create a fair and transparent pricing strategy for your digital illustration work.