For better or worse, there are no set rates for professional photography. Plus, federal laws prevent photographers from getting together to set common rates.
Most professional photographers base their fees upon a combination of the following:
Professional photographers are in the business of licensing the use of their images. This is the only way they can stay in business.
Music, books, movies, TV programs, software, posters, paintings, newspapers and magazines are just some of the other products that are licensed to the buyer.
For example, when you buy a DVD movie or a paperback book, you own the plastic disc or the paper pages but not the content itself. Physical possession does not equal copyright ownership. Photographs are no different.
To determine the appropriate licensing fee, the photographer will have to know such things as:
The logical business concept is: the more a photograph is used, the more value it has, and so a higher fee would be charged.

If a client has a tight budget, (which of course is a polite way of saying “low budget”), then a professional photographer can discuss what is and is not possible with such a budget. But remember, you can never buy a Rolls Royce with a Toyota Corolla budget.
Photographers are rarely magicians. They cannot magically lower existing costs or expenses. Just as the cost of a tank of gas is what it is, the cost of photo equipment, as one example, is what it is.
However, just as someone can lower their gasoline bills by switching to a smaller car or by driving less, the photographer should be able to help a client lower the photo fees by reducing the amount of photography services and/or usage rights.
A client could “switch to a smaller car” by doing a smaller photo shoot. Examples: cover one day of an event rather than the entire weekend; reduce production values from full studio lighting to available light.
It may also be possible to “drive less” by reducing the usage rights required. Examples: change from three year's use to just one year; eliminate print brochure rights in favour of just web use.
Like all other businesses, for the customer to get more, they have to pay more. Photographers can't change the economic laws which govern a profitable business. Nevertheless, be assured that a professional photographer will always deliver the same level of customer service to every client.
Professional photographers want to work with a client and not against them. A photographer wants the customer to get the best photography services that they can afford and to help make the project a success. This is the photographer's job.

Still looking for a bargain? Remember that getting it right the first time is always the best bargain. The right photographer is not the cheapest one. It's the photographer who fully understands what you need and then delivers as promised.
The photography a business uses reflects the quality and perceived value of that business. The right photographer is the one who can increase both.