I feel like this is something a lot of up and coming designers and maybe even more experienced designers ask themself.
How experienced are you?
How long have you been designing? How good is the quality of the work you’re putting out? Is what you’re charging reasonable for the services you are offering? These are all good things to think about when creating your prices.
Value yourself and your work
Never compare your work to others. Only you know what your work is worth and the value you bring. If you’re just getting into graphic design, I wouldn’t charge a whole lot. When I first started I was doing twitter headers for around $10. Those $10 headers eventually became $45 revamps but it took me years to get to that point where I felt the quality of my work now compared to back then was worth a lot more.
Making a quick buck
Don’t be so quick to do a job for half price just to make a quick buck. If you lose a client you lose a client, but would you rather lose a clint and stand by your prices or undervalue yourself just to make a bit of money. If it’s a customer you’ve been working with for years, by all means give them deals and discounts to show your appreciation. It’s completely different when someone you’ve never worked with approaches you and tries to get you to lower your rates. You get what you pay for and if they want quick work there is more than enough people out there that will do it. That’s just my personal opinion.
Hourly or fixed rate?
I’ve always charged fixed rates. Why you may ask? I’m able to knock projects out in a matter of hours and if I charged by the hour I would make way less. Even websites I can have done in a few days. Charging by the hour you’re going to make less money than you would if you were charging fixed rates. Only time charging hourly may be reasonable is if you’re building apps, websites, or software programs from scratch. But even then a fixed rate still may be the better option.
Charge what your work and time is worth and the value you bring to the table. If you work with high end clients like myself having higher prices than most is a given.