For Artists: Calculating Daily / Hourly rate

When calculating a daily or hourly rate for your work, particularly for funding applications or project budgets, it’s important to establish a fair baseline rate and thoughtfully account for overheads and margins.

Firstly, set your base hourly rate no lower than the minimum wage. However, most artists set their daily rate between €150 and €350, reflecting their experience, expertise, and career stage.

Inexperienced commissioners might mistakenly assume that paying only minimum wage is sufficient compensation for artists. It’s crucial to guide such commissioners to understand that minimum wage alone doesn’t reflect the full cost of an artist’s practice. They should be encouraged to consider additional overhead costs that artists have in support of their careers, such as studio rental, equipment maintenance, insurance, utilities, and administrative expenses. Commissioners should also factor in an allowance for profit margin. The Payment Guidelines offer valuable insights and recommended practices that help commissioners and artists establish fair and transparent compensation standards.

Once your base rate is established, break down the tasks you anticipate undertaking for the project, carefully estimating the number of hours or days each task will require. Clearly outlining this breakdown in your proposal provides transparency and demonstrates careful planning.

Typically, overhead costs represent an additional 10%–25% of your base rate, depending on your circumstances. Adding this overhead allowance ensures your rate realistically reflects the true costs of undertaking the work.

Finally, incorporate a profit margin, typically between 15% and 25%, which not only ensures financial sustainability but also allows flexibility for unforeseen expenses or contingencies. Clearly stating your commitment to the project, such as specifying dedicated working hours or days per week over the funded period, enhances the credibility and feasibility of your proposal.

By thoughtfully combining your base rate with appropriate overhead allowances and a reasonable profit margin, you create a fair, transparent, and sustainable fee structure for your artistic practice.

FOR COMMISSIONERS & FOR ORGANISATION WISHING TO ENGAGE WITH ARTISTS:

We have guidelines on day rates for various types of artists work so it might help you to calculate what your budget should be: https://visualartists.ie/how-to-manual/visual-artists-payment-guidelines-calculator/