How to set the value of your photography work

By Steven Turville

Navigating the task of photography pricing can often feel like charting a course through unknown waters. This comprehensive photography pricing guide combines industry insights with practical advice to demystify the complexities of setting the right price for your work.

Whether you're a seasoned professional or a budding photographer just starting to build your business, this guide aims to empower your decision-making to ensure your work is both recognized and rewarded.

How much do photographers make?

A range of factors influence photography pricing including location, experience, project type, and the specific genre of photography you’re practicing. For example, portrait photographers may charge between $150-$350 for a session while event photographers specializing in weddings, may see photography prices ranging from $1,500 to $15,000 per event, depending on their experience and portfolio range. Photographers' rates may also vary depending on their level of expertise. For example, hobbyists or beginners might offer services for free or under $100, while professional photographers could charge up to $300 per hour.

Common photography pricing models

To determine the appropriate rate for your work, there are several photography pricing models you can consider.

Usage-based pricing
Usage-based pricing is a model typically used in product photography. It takes into consideration how your images will be used into the future. For example, you might price your work slightly higher than your average price per image with a usage-based model if you sell your photos to a brand to be used in an ongoing campaign. Rather than charging a rate per hour for a session, this model accounts for the ongoing use of your images into the future. To get started with usage-based photography pricing, you can use a free image usage calculator from the Association of Photographers to input a base amount, as well as usage details like licensing period, type of media and region, to figure out how to price your photos based on future use.

Hourly rates
This is a standard photography pricing model for event photographers hired to shoot weddings, family gatherings, and corporate events. As photographers are paid hourly for the amount of time they worked at an event, in contrast to a flat package rate, this model accounts for when an event runs long or other unforeseen developments. Keep in mind with this model that you can also charge for time spent before and after the actual event, such as for traveling, taking meetings, preparing equipment and/or editing photos in post-production. Your hourly rate should also account for any overhead costs required for the specific event you’re shooting. In this way, it can be smart to tailor your hourly rate to each client’s specific event requirements. For example an event inside a low lit venue that requires you to bring additional lights or other equipment should be factored into your hourly rate.

Flat rates
Many event photographers also use flat rate pricing when shooting events. However, this photography pricing model is best suited to photographers who have enough experience to accurately estimate how much work before, during, and after an event will be required. It’s also standard for portrait photographers to use this pricing model as it lets them factor in their fee for both a photo session and final prints. When using a flat rate model, it’s essential to outline the scope of work for the project with your client beforehand — such as how many feedback rounds, prints, etc. are included in your fee. Again, this model should only be used by photographers who have enough experience to understand how long it typically takes them to capture photos and retouch them.

Experience-based photographer pricing list
As mentioned above, photographers’ rates may vary depending on their level of experience. Here’s a list of typical prices for different levels of expertise:

• Amateurs and hobbyists: Free, or under $100 ($25-$75) per hour. $10-$25 per image.
• Students: $50-$120 per hour or $25-$100 per image.‍
• Entry-level: $50-$150 per hour or $25-$125 per image. ‍
• Professional: $100-$300 per hour or $75-$350 per image.‍
• Top-professional: $250 - $500 per hour or $200 -$1200 per image. These photographers can be paid up to $10,000 per day based on their experience and specialization. 

Specialty-based pricing list
Photographers with niche specialties often price their work based on their genre of expertise. Here’s a list of typical photography pricing for different genres:

• Portrait photography: Rates range between $150 to $350 per hour or for a single photo session. A portrait print package can range between $250 to $1,500.
• Event photography: Rates range between $150 and $500 an hour. Fees may vary depending on specific events. For example, wedding photography package rates can range from $1,500 to $15,000 depending on the wedding destination and the photographer’s experience. 
• Product photography: Rates vary between $25 to $175 per image.
• Real estate photography: Rates range from $150 to $500 per shoot. Day rates can increase to $1,500 or more if photographers have to travel, or require assistance, lighting or other equipment.
• Commercial photography: Day rates range between $800 to $5,000. Licensing fees range between $250 to $10,000.

How to price your photography work

Now that we’ve explored pricing models and average rates per genre and expertise level, let’s explore the steps to pricing your own work.

Conduct competitive research
The first step to setting your photography pricing is doing market research on the average rate of other photographers within your niche (event, portrait, real estate, etc.). What are your competitors charging and what is their pricing model — flat rate, hourly, etc.? If your price is higher than competitors in your region, then you might need to convince clients of the additional value of your work (a compelling photography portfolio can help showcase your work). On the other hand, if it’s too low, you might be underestimating your value. You can also offer a pricing range, which gives clients flexibility while keeping your rate within a spectrum that benefits your profit margin. 

Still unsure about how much to price your work? 

For concrete examples of photography pricing other creators are charging in your area, you can also search salary data from websites like Payscale, Glassdoor or Indeed as photography pricing guides. As you decide what rate feels best for you, keep in mind that no amount is right or wrong. Your calculation should be based on a combination of factors, including your specialization, experience, current market demand, inflation rates and, most importantly, your sense about what rate fairly compensates you for your talent and time. While research is important to understand your local market, your intuition on what you should be paid for your work should be the ultimate decision-maker.

Determine your costs/expenses
After conducting your market research, the next step in our photography pricing guide is determining the direct costs you’ll accrue in the production of your final product. If you’re an event photographer, this might include the gas it takes to drive to the wedding venue. If you’re a portrait photographer, this might include the hard drives and cloud storage you need to store digital files of your work. 

As you do your cost analysis, keep in mind ways you might reduce expenses to increase your profit margin. This might include buying supplies in bulk or purchasing long-term subscriptions to software or services at a discount.

Here are some different types of costs to consider. 

Labor costs
As you determine your costs, count up the hours it will take to produce your final product. This includes client meetings, time spent traveling to events, and even unforeseen labor costs — like the hour you spent waiting for your client to show up to their scheduled photo shoot. Don’t forget to account for pre-production time — like the time you spent setting up your equipment — and post-production time — like the time you spent uploading photos. 

Consider how much your time is worth and make sure your labor costs reflect that. The more experience you acquire, the more you should increase the cost of your labor. 

Overhead costs
Overhead costs are fixed costs of doing business that remain constant every month in spite of any changes to your business activity levels. This might include the rent you pay for your studio, subscriptions to post-production software or one-time equipment purchases like lighting, backdrops or camera lenses. Certain advertising activities can also be counted as overhead costs. For example, the cost of business cards or social media ads.

Fixed costs
All costs fall into one of two types: fixed costs and variable costs. As mentioned above, overhead expenses are fixed costs that remain consistent regardless of business activity. This can include equipment purchases, rent, advertising, or other business necessities.

Variable costs
Variable costs account for expenses that vary depending on the work you do. A typical variable cost in the photography industry are travel costs. These expenses can vary depending on the project and whether you have to travel a long distance, stay in a hotel, rent a car, etc. Another common example of variable costs are location shooting fees, the price of renting short term studio space (if you don’t have your own), makeup and styling, model casting and/or retouching fees. Also, don’t forget to include taxes in your variable expenses, which will be based on the amount of annual revenue you earned for your work.

Apply your profit margin 
Once you’ve analyzed all the fixed and variable costs of running your business, it’s time to set your profit margin. This will determine your take-home income for each project. This is a subjective amount that should be based on the quality of your product or service. Other factors to consider as you determine your profit margin include your experience level, the type of equipment you use and the amount of pre- or post-production work you do. If you invested in new equipment or a studio space for example, it might be worth increasing your profit margin. 

Formalize your price in a contract
A contract allows you to set out a scope of work which you can then use to calculate all associated costs for your services. Without a contract, it might be unclear to your client what your expected deliverables are. There could also be a higher risk of incurring unforeseen costs for services you might not have been prepared to render. Agreeing on a contract will also help you factor in all costs and expenses for a project. Well-structured practices like contracts are crucial for running a sustainable and profitable business. Otherwise, unexpected expenses could eat into your profit margin. 

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