How to determine a fair retainer rate?

F

firehawk

Veteran
Hi all.

How do you determine what a fair retainer rate is?

Company A wants to put you on retainer, paying you a certain $$ each month whether you do work for them or not, so that when they need work you jump to their call, putting them 1st.

How do you determine a proper rate for this situation?
 
firehawk said:
Hi all.

How do you determine what a fair retainer rate is?

Company A wants to put you on retainer, paying you a certain $$ each month whether you do work for them or not, so that when they need work you jump to their call, putting them 1st.

How do you determine a proper rate for this situation?
Click to expand...

Good question. I've never been in that situation. If they are paying you a retainer, do they expect/demand that you will drop a conflicting job/booking if they want you on that same date? If so, then that makes it essentially impossible to take on any other work and therefore they need to pay you accordingly. Maybe work it as a right of first refusal type deal where if another client calls then you call them and say you've got an offer for this day and they can release you or buy you out. Or some combination of the two.
 
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Though some large companies keep attorneys on a permanent retainer, it would be highly unusual in this business and actually detrimental to your career...I would recommend against it, or tell them to hire you full time....even being "on call" can be trying and usually only applies to full time staff...doctors and nurses or firemen for example.
 
I know some guys in DC do this for various news agencies... I can ask details.

One thing I do know is that before taking this work, they build up good relationships with 3+ cam guys at least as good as they are... that way if they have to bounce a job, they can ease relations with the client by offering up a ready, vetted replacement
 
Yeah, this seems weird for a camera/video producer type. Retainer? For me, it would have to be a lot of money for the reasons outlined, makes it difficult to take on much else.
 
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