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Am I completely off-base with this rate quote?
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Adam Verner
Contributore Level V


Joined: 04 Jan 2007
Posts: 198
Location: Chicago

PostPosted: Fri Jan 23, 2009 11:54 am    Post subject: Am I completely off-base with this rate quote? Reply with quote

Hey everyone, so I was recently asked to quote a project in $/min format for the first time - it's a large e-learning narration.

I poked around the archives here and found a bunch of different methods and prices, and came up with this: It's a 27,000 word project. I figured 150 words per minute would be 180 minutes or 3 hours of finished audio. Most posts seemed to suggest multiplying finished audio time x3 to account for re-records, editing, etc...so I came up with roughly 9 hours of recording. So at $10 a minute the project comes out to $1800.

That works out to $200/hr studio time, which was good, I thought. I sent the quote off to the potential client and the response was:

Quote:
"I am afraid, the rate is very high for us.
We are looking around $3.5/minute. Please let us know if this suits your
budget."


That works out to $630.

Who's way off base here, them or me? I'm just transitioning to doing work from home, so I'm new to the rate quoting biz.
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mcm
Smart Kitteh


Joined: 10 Dec 2004
Posts: 2600
Location: w. MA, USA

PostPosted: Fri Jan 23, 2009 12:02 pm    Post subject: Reply with quote

Adam, they are stark-raving nuts. Your original quote was beyond reasonable and they should have jumped at it.
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Lance Blair
M&M


Joined: 03 Jun 2007
Posts: 2281
Location: Atlanta

PostPosted: Fri Jan 23, 2009 12:25 pm    Post subject: Reply with quote

$630 is not enough for 27,000 words. $1200 might be a el-cheapo starting point.

They should have figured out they'd have to shell out way more than $600 before they started writing 27,000 words. I'd like to have a contractor build me a house with ten bedrooms. What? That costs a lot of money??? Who knew? I was expecting to only pay $50K! Wink

Maybe they can get a unicorn with rainbows and lightning flying out of its mouth to read this? They'll usually work for just a few flakes of Leprechaun gold.
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Rob Ellis
M&M


Joined: 01 Aug 2006
Posts: 2385
Location: Detroit

PostPosted: Fri Jan 23, 2009 12:33 pm    Post subject: Reply with quote

I'm thinking $5000 would be VERY reasonable, and around $3500 would be a steal, including editing, etc.

$630 is out of the question, unless I am brand-new and very eager=desperate
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Mandy Nelson
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Joined: 07 Aug 2008
Posts: 2914
Location: Wicked Mainah

PostPosted: Fri Jan 23, 2009 1:28 pm    Post subject: Re: Am I completely off-base with this rate quote? Reply with quote

Dummkopf wrote:
Who's way off base here, them or me?


Seems they aren't even sure what game they are playing.

Good for you for doing the research!
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Diane Maggipinto
Spreading Snark Worldwide


Joined: 03 Mar 2006
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PostPosted: Fri Jan 23, 2009 2:08 pm    Post subject: Reply with quote

Quote:
Who's way off base here, them or me?


Moe just got a lesson on bases. She might be able to help. Smile

In answer to your question: them.
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steveanthony
Been Here Awhile


Joined: 30 Aug 2006
Posts: 247
Location: Western Massachusetts

PostPosted: Fri Jan 23, 2009 2:11 pm    Post subject: Reply with quote

You're lucky you made a clean get-away. That's at least a $3500 job. Then you start to factor in how well/poorly the script is written, and turn-around time, plus retakes. Yup, you're a lucky feller.
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Lizden
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Joined: 04 Dec 2006
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Location: The dark recesses of my mind

PostPosted: Fri Jan 23, 2009 2:18 pm    Post subject: Reply with quote

What everyone else said.
Yep, it's them.

Liz
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Bruce
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Joined: 06 Jun 2005
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Location: Portland, OR

PostPosted: Fri Jan 23, 2009 2:20 pm    Post subject: Reply with quote

$10 per finished minute would be a bare bones minimum in my estimation and only if it were part of a probable long-term relationship. That'll work out to $150-$200/hour for your talents. His suggested rate would be as low as $50/hour. Sure there are some folks that'd be happy with that, but most of us only work 10 to 20 hours each week at our actual craft, and we have overhead expenses, etc., etc..

You're talent is worth the higher rate.

B
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Adam Verner
Contributore Level V


Joined: 04 Jan 2007
Posts: 198
Location: Chicago

PostPosted: Fri Jan 23, 2009 2:23 pm    Post subject: Reply with quote

Thanks everyone for chiming in! I figured I was already on the low end of things, just wanted to make sure I wasn't crazy.

I should just forward them the link to this thread, that'll do 'em! Laugh
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dhouston67
VO-BB Intarwebz Glossary Administrator


Joined: 01 Aug 2005
Posts: 1166
Location: Right next door to Sandra Bullock. No, really.

PostPosted: Fri Jan 23, 2009 2:24 pm    Post subject: Reply with quote

I bit the bullet in a similar situation about two years ago. It was for an audiobook which, after weeks of recording and editing, ended up unpublished. Trust me: burn rubber getting away from this one.
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Moe Egan
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Joined: 11 Sep 2006
Posts: 4339
Location: Live Free or Die

PostPosted: Fri Jan 23, 2009 2:25 pm    Post subject: Reply with quote

Yea. Third Base!

Your original quote was a bargain....their expectation is way off base.
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Diane Maggipinto
Spreading Snark Worldwide


Joined: 03 Mar 2006
Posts: 6679
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PostPosted: Fri Jan 23, 2009 2:38 pm    Post subject: Reply with quote

Quote:
just wanted to make sure I wasn't crazy.


for the record, no one's saying you're not certifiable ... Wink
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Philip Banks
Je Ne Sais Quoi


Joined: 20 Jun 2005
Posts: 11076
Location: Portgordon, Scotland

PostPosted: Fri Jan 23, 2009 3:00 pm    Post subject: Reply with quote

Quote shyness is a common problem and it's always up to the voice to say what needs to be said.

"You obviously have a budget in mind so please let me know what is and I'll try my best to fit in".
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Lee Gordon
A Zillion


Joined: 25 Jul 2008
Posts: 6864
Location: West Hartford, CT

PostPosted: Fri Jan 23, 2009 5:06 pm    Post subject: Re: Am I completely off-base with this rate quote? Reply with quote

Dummkopf wrote:
"I am afraid, the rate is very high for us.
We are looking around $3.5/minute. Please let us know if this suits your
budget."


"No, it doesn't. Thanks anyway."
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