How to Price Your Photography Services – A Guide

By Federico Alegria / March 2, 2017

Last Updated on by

Turning our passion for photography into a sustainable business is one of the most desired goals for many photographers, so learning how to price your photography services is a huge part of turning pro.
Photographers often have an opinion about working with certain clients and the frustrations that can arise from the difference between doing what they truly love and what they’re hired to do.
The main reason for this discontent is that the work they need to deliver is completely unlike what they love to do. This is why they yearn to turn their genuine passion into a sustainable business.
But for this to happen, they – we – need to correctly price our work in order for it to sell. Obviously, if we give our work away, we’ll never make our photography business sustainable. If we over-price it, we may equally struggle when trying to sell it.

how to price your photography services Image by Vedanti

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Setting Your Rate as a Photographer

The best way I've found to define an hourly rate is to think about the hourly rate you earn at your day job, or, if you don’t have a daily job, at least a rate that matches your current skill level.
If you’re just starting out, it’s likely that you'll be a freelancer, so you'll probably be sacrificing some day-job hours.
If this is correct, you have to consider an opportunity rate of at least 2x the day-job hours you’re missing. Some countries don't always work with hourly rates, but with monthly salaries.
In this case, you need to take your monthly payment and divide it by 4, and then by however many hours you expect to be working in a typical week, to calculate your hourly rate.

how to price your photography services Image by Luis Llerena
Here are the factors you need to consider in your calculation:

  • Hourly Rate
  • Opportunity Cost
  • Expected project expenses (from inputs to outputs)
  • % of revenue that you’re willing to get above the costs

Expected expenses may include things like:

how to price your photography services Image by Luis Llerena

  • Gear depreciation
  • Transportation
  • Gear rental
  • Hiring a makeup artist and/or hair stylist
  • Deliverables (prints, USBs, etc.)
how to price your photography services Image by Rawpixel
For example, if the assignment’s expected expenses are $300.00, your hourly rate is $15.00, and you’re spending 15 hours on your entire workflow run, then your cost will be:
$300.00 + ($15.00 x 15) = $525.00
Remember to include the opportunity cost if you’re skipping day-job hours:
 $300.00 + ($15.00 x 15) + ($15.00xC) = $525.00
Then you have to calculate your margin. If you charge the same price as the cost, you won’t earn any profit:
 $300.00 + ($15.00 x 15) + ($15.00xC) = $525.00
Price:  $525.00 * 1.35% = $708.75
Let´s round things up:
Sale Price: $715.00 + taxes
And that’s pretty much how to price your work. The thing you really need to think through is the “expected expenses” part because this is where your work must cover its own existence.
Marcel Duchamp was known to price his work in a very odd way, but it was very accurate. He counted even the smallest expenses he incurred while creating one of his works – curious, yet obvious things like the time he took seeking out his ready-mades, the coffees he drank, the cigarettes he smoked, the taxis he hoped on, etc.





how to price your photography services Image by Pixabay
The job doesn't stop there.
If you try to define a selling price, it’s because you’re about to give it to a potential client. So you're crafting a quote. And there are other elements that are important for you to know about when it comes to doing that.
These include:

  • Your area of expertise: It's important to bid only on projects that are within your domain of expertise. For example, I’m a street photographer, so being part of a wedding photographer’s staff as a candid photographer is not a problem for me.
    But I would never accept a job as a principal wedding photographer.
    I could easily work for an NGO that wants to document a topic around agriculture, but I wouldn’t dare to offer my services as a commercial photographer for a fashion brand.Don’t get me wrong, I’m not being short-sighted here. It’s just that I’m very conscious of my own skills.
  • Scope of the Project: It’s also important to know the expected scope of the project. Being the photographer who simply takes the pictures is not the same thing as being hired for an entire production in which you need to handle the logistics behind clothing and make-up, for example.
  • Delivery Dates: I’m a true believer in working to the clock. By that, I mean delivery dates are important to me. I always give loose rather than tight delivery dates (this is not always possible, but it you can, be casual about it).That gives me the ability to deliver earlier, and it gives a bonus value to my work.
  • Payments in advance: Clients of creative workers have a bad reputation of expecting you to work for free, and we as creative individuals have the responsibility to change that bad habit.Not all clients are like this – but let’s face it, there are some really special people out there. The safest way to work a project is to have a payment in advance (a percentage for example), and this is something that you need to define in your quote.
  • Resources the client needs to hand over: Remember to ask your client for all the assets you need for the project so you can work seamlessly and without any trouble.
how to price your photography services Image by Geralt

If You’re Willing to Sell Fine Art

Today’s market is filled with collectors who are definitely more “price-conscious”, and also the offer is pretty variable when it comes to Fine Art for any purpose.
According to the art trading platform Saatchiart, subjective qualities vary from viewer to viewer, making price acceptance a tricky thing. A consistent, fact-based price structure should be formulated for pricing your work.

Bartering is Valid

I'm a true believer that any work your do as a photographer requires payment. You don't go to a doctor and expect to have a free appointment just because she or he barely looked at you and happened to give you an accurate diagnosis.
I also believe that there’s a huge difference between working for free and working for something in exchange. Let’s say you know a programmer who creates amazing websites and happens to be getting married. A very good exchange can result from this mix.

Don’t Work for “Exposure”

Many clients have a bad habit of offering you great “exposure” and endless rivers of clients if you work for them for nothing. Just don’t do it.

Freelance Calculators

Here are some great sources to help you arrive at a better number for your own rate:

Another Great Resource for Defining your Hourly Rate

To Summarize – How to Price your Photography Services

There are various business models inside the photography world, but the best formula I have found (and this is really just my own personal opinion, so I may be wrong) is to base everything on an hourly rate.
This model works at any level. At the very least, you should have a healthy price that covers all the costs related to your work.


Further Resources

Further Learning

How's your post processing coming along?
Learn the fundamentals of Lightroom Editing and make your images really work for YOU by getting the best out of them.
We thoroughly recommend this fantastic course by the guys at Photography ConcentrateSuper Photo Editing Skills.

About the author

Federico Alegria

Federico has a decade of experience in documentary photography, contributes some free images to the community and is a University Professor in photography. You can get to know him better here

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