Project fees from daily rates
Once you come up with a daily rate, you can begin to calculate rates for shorter or longer projects. Bear in mind that fee rates assume that you are unlikely to be working full-time on something; if you are, different negotiations on appropriate pay would be required with the organisation employing you.
Relationships exist between hourly, daily, weekly, monthly and annual rates, although some artists do not charge hourly rates, preferring to charge half-day or day rates only instead (since travel to and from a venue for working means you cannot work on anything else, and can be included into the rate for that project). Again this will depend on the project, budget and organisation you are working with.
- Day rate ÷ 7 = hourly rate (including unpaid lunch break, and depending on length of day)
- Day rate x 5 = weekly rate (if no weekends)
- Weekly rate x 52 = annual rate
‘Pro rata’ rates (for part time work) are often used to calculate ‘fractional’ earnings for part time tutors or technicians:
- One day: multiply by 0.2 (so a weekly rate of £1,000 x 0.2 = £200 for a day rate)
- Two days: multiply by 0.4
- Three days: multiply by 0.6
- Four days: multiply by 0.8
So, for an income of £30,000 per year for a 2 day a week project for 3 months would be:
- £30,000 ÷ 12 months = £2,500 monthly rate
- £2,500 x 3 months working = £7,500 3 months full time fee
- £7,500 3 months full time fee x 0.6 for three days a week = £4,500