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It depends on the type of the project ... sometimes you will not be working so many hours on a certain project... but you will be delivering a new Idea or concept in your design ... so that you will be selling the client your Idea , not your working time and effort ... so that it depends on the type of the project you will be working on ...
Respect Madam.
I can only inform you of the indian situation. If working for a large multinational working for a project would be more benifitial.
But if you work for a small localised co it is better to go by hourly rates. If you are dealing with a small co for the1st time therecould be payment problems. To be on the safe side it is better to go for hourly rates.
Charging per hour is very relative maybe you are a slow designer by nature and maybe you are fast then you would charge less because you got the work done on time for the client!
by project but you start your estimation for coast based on total working hour, if you go more for coast it depends on;
- Customer it self small shop or big brand
- Add-value for your design
- Design complexity: mix of photography,3D and illustration for example.
always give a task breakdown for your quotations to size your effort
and good luck with customers...
By project is more professional, because hours may change depending on your efforts or how ideas come to mind and executing them. ( if you work on a project longer than average, you can't charge the client for the extra hours, and if you finished it quickly, it will be unfair to charge for less hours) so by Project is better.
By projects for large projects and by hours for small type of jobs. But overall most of time client want to know complete project price and how much time it will take.
Easy answer is
1) If the project is the work you have done million times and you are confident that you can do it swiftly with minimal efforts, go for Per Project or Fixed rate
2) If you think that this project will have a lot of revisions and you are not sure that how much time it will take, then go for hourly rate
no matter how much time will be needed for the project, the main thing that he was interested
In case if you have this choice for a work, this means that your client knows good your capacity or your Company and most likely because of a timeline constraint, he will use others with you or in parallel to complete his project. So if "better" means earn more money and faster your choice should be hourly charging your services.
It's always per project to have a win-win situation with the client, otherwise you'll end up with so many revisions during the project lifecycle.