New to freelance work: need help with pricing

[randomname]

I have very little experience doing actual videography work, but the other day I saw a job notice at my school for making a video about their study abroad program. They liked my demo reel and want me to quote a price, but I have no idea where to start and don't want to admit that I've only had a handful of paying gigs before. So my question is, how the hell do I figure out how much money to ask for? If it helps, here's the email I got with information on the project:


I really liked your videography demo. We would like a promotional video to give at freshmen orientations about studying abroad. It would be about 10-15 minutes and would have 3-4 students talking about their experiences with pictures of their travels. We would also have an advisor to discuss the benefits and costs.

 

[_joe]

First congrats on the job!

I actually did a couple of videos on the same subject:


http://vimeo.com/6461454

http://vimeo.com/6228063

couple of questions:

1.) Whose equipment will you be using (editing computer, camera, lights, etc)?
2.) Do they want you to travel to the countries with the students?
3.) Are they going to give you the "3-4" students they want interviewed or do you need to profile and choose from a pool?


and my no so serious (but serious)

4.) why do they want such a looong video?
5.) What do they have to spend?

Personally, I'd take some time to think especially about the equipment and what you think you're worth an hour/per day and estimate what it'd take for you to make the project without putting yourself into a hole. Then go from there.

but that's just me :-D

 

[Jarrett P. Morgan]

please don't underprice yourself
I just did that with a project I shot and I have kicked myself for charging so little to work for so long

just figure out what you think you should be paid hourly (if you think you are worth 20 bucks an hour, go with that, or 50 or, (if you are cocky) 100?) then figure out other expenses: gas, renting equiptment, hiring an assistant, etc and then add them all up

 

[paulears]

They may have no idea of how complex their project is - they probably think 15 mins? so that's probably a couple of hours of work in total. Your quote could be for 20 hours, or more - so maybe you ask for $500 which is probably cheap, but they cough and say, we were thinking of about $50. Don't accept, but you're stuck in a catch 22 - with no track record, they don't have anything to go on, so have no idea. If you say yes to a lower amount, because it's just your time - then like the poster above, you'll find it a bugger to ever get it up again with this client - and if you get busy, you'll not want to deal with them any more.

I have this very scenario almost every year - I'm stuck with a repeating contract, that is below the rate by a long way, that gets more complex each year - but for money reasons, they try to beat me down, and will not increase the fees. I've stood my ground for three years now, and I know they had a quote from another firm who asked for what I'm charging for 6 weeks for a single week! That's how cheap I'm doing it, but at least now the client actually knows I'm cheap. He won't up the price though! One year, I'll have a proper paying job at this period and be able to say sorry - but until then ...?