A couple of months ago, I got a phone call from the photo editor at one of the largest newspapers in Canada. He wanted “magazine-style” portraits of a business person here in Toronto. The photo editor said they required at least six different looks, with different backgrounds and different lighting. Best part of all? Not only were they willing to pay $150, but they would also pay mileage!
Two weeks ago, I received an e-mail from a photo editor of large, well-known, UK publication. They wanted “stylized” executive portraits of the CEO of a very large, international corporation, which had an office in Toronto. The publication, whose rate card lists $40,000 for a 1/4 page B+W ad, wanted “a large selection of portraits, all with high-quality lighting.” The punchline? The e-mail said they would be “happy” to pay $250, including expenses.
Here’s the deal:
In the 1980s, $250 per assignment was great. But over the past 25 years, something strange has happened. The cost of running a photo business, not to mention the cost of living, has gone up a wee bit.
Lenses are now double the price; cameras are triple to quadruple the cost; $5000 computers, $1800 monitors, $2700 laptops and thousands of dollars of software, which were non-essential in the 1980s, now have to be replaced every few years. (Staying up-to-date is an expensive pain); the cost of business and equipment insurance has tripled; health insurance has tripled; car insurance has doubled; in 1987, my (then) new station wagon cost $13,620 and in 2007, my (current) new station wagon cost $31,600; and, they say the cost of gasoline has gone up too.
Did I mention that the cost of living has gone up? According to the Bank of Canada, from 1985 to 2009, the Consumer Price Index increased 83%. This means that $250 in 1985 is now worth $457 in 2009, and that accounts for inflation only.
Photographers are not magicians. They cannot charge below profit, let alone below cost. If they do, then the only magic trick they will accomplish is making their business disappear.
Tags: hiring a photographer, pricing, rant
Very true. $250 sounds very little even for 80s though. :)