Maybe you should start charging more?

The topic of pricing will always be relevant and complex, in my opinion. There are too many differences and variations for each illustrator or designer. Factors such as location, tax percentage, or even basic experience can become huge factors in the disparity of numbers for each individual.

So today I won't be naming specific figures, but instead I'll tell you about the rules and "flags" I use to determine when it's time to raise prices for my work, when I unconsciously undervalue myself, and how to understand when the time has come.

Fear

Why are many people afraid to raise their prices? Really, haven't you had that uncomfortable feeling of "oh no, I don't think I'm ready yet"?

I personally felt this dozens of times. And you know what? It's just the fear of stepping outside that comfort zone of pricing we've got used to. We're afraid that by raising prices, the client will leave, or that we'll lose new inquiries or get so few that we'll blame ourselves for raising prices and have to lower them again.

But you know, I think this is exactly the fear that needs to be overcome – try raising your price with a few new client inquiries and you'll see that it's not so bad. Yes, maybe someone will leave because of it, but others will stay and bring you MORE (but more on that later).

Price = value

Oh, how much we lose by undervaluing ourselves! Always remember that you're not being paid for the hours of your work (although for some people this is exactly how it works, and that's completely okay if you know what you're doing), but for the value you bring to the client's business and the result that helps them.

How does it help? Well, for example, the illustrations you create will be used to advertise your client's product. This will undoubtedly increase their profit from this advertising and subsequent sales. Value? Definitely value. So why do we often overlook this and miss how our work will be used? Don't forget about this, because it can become your goldmine.

Usage rights and understanding what value you bring to a specific project become a huge pricing factor if you know how to work with it.

Life Series | Irene Neyman, 2025

The real cost of your work

Let's first determine what your price should consist of in principle. And if you notice that you haven't accounted for something, this will be a good reason to review your prices, because this is the foundation!

• Time for research and concept development
  ANY time spent on the project should be paid for

• Number of revisions and reviews included in the project
  I know some prefer to make this "unlimited" because their price already assumes this and it works for them, but personally I prefer to be specific about work conditions and what's "included" in my obligations (this protects me if needed).

• Your experience and expertise
  If you've been in the field for 1 year or 10, the price will differ

• Commercial value of the illustration for the client's business
  I mentioned this in the paragraph above. Always understand what value you'll bring to the client's business.

• Usage rights
  A very important point that I wouldn't recommend skipping. More details about this in my previous blog post 👇

• Cost of living in your country
  I think it’s quite obvious here.

• Project urgency
  Urgency means you have to give up something else, whether it's another project, personal activities, or an outdoor walk with your family. So definitely factor this in.

Signs it's time to charge more

So when should you start raising prices? There are many "flags" that personally work for me in 100% cases as a sign that the time has come. And here are most of them:

• Too many clients, too little time
  If you're overloaded with work and don't have time to "live," then it's time to raise prices and "reduce" the number of projects to those that will be most interesting and financially beneficial to you. The amount of free time will increase, and the amount of work will decrease. And the financial side will either stay the same or also increase, which is obviously wonderful!

• You easily get "yes" to your prices
  This is a red flag that says your project evaluation often "falls short" of where negotiations begin (you know that price negotiations are important, right?). If a client easily agrees to your price, they likely had a bigger budget, and potentially it could have been yours.

• Your skills have grown
  But prices have stayed the same. This is impossible by definition. We all grow and learn, our experience grows every year, and it's simply not right to charge the same prices as a year ago, considering how much expertise and experience you've gained over that time.

• Inflation
  Obviously, every year prices around us rise, which means we're losing more money, and accordingly, we should charge more for our work to cover these new or simply increased expenses. I consistently raise my prices at least once a year precisely because of inflation. You choose the percentage increase yourself. I think normal would be a percentage between 5-10% depending on the conditions in your specific situation and country.

Life Series | Irene Neyman, 2025

How to communicate price increases

So you've decided to raise your prices, congratulations! But how do you explain this to your regular clients?

First of all, be honest – you can mention the factors that influenced your decision to raise prices and that you strive to provide the best service, so you simply can't afford to "stand still." Any business grows and develops, and you are your business, so it's absolutely normal to raise prices from time to time.

I should say that your clients will, in most cases, understand and support you if they've clearly seen the value you've brought to them before.

Otherwise, you can always be more flexible with regular clients, offering them special conditions for some period of time before raising prices. Or warn them in advance that you're planning this after some time period, and now they have the opportunity to work with you at the old price.

Your work is worth more than you think. This is most often true. Don't be afraid of raising prices and losing work because of it. You should understand why you're raising prices and be confident that these factors really affect what you do. No one can argue with your confidence!

I hope this topic was interesting to you, and I'd be happy to hear what else you'd like me to share in my newsletters! Write, ask questions, I'm here for you.

Thank you for reading,