How to Set PROPER PRO Rates by KNOWING Your Worth
Not all voice actors know how to set proper rates. Fewer still know what proper rates are. Even fewer quote them consistently.
Very few voice actors not only know and quote proper rates consistently, but they also know their worth.
Today, we’re going to delve into knowing your voice over rates, knowing and getting grounded in your worth, and the relationship between the two.
Let’s start with rates.
When it comes to rates, voice actors are uniquely fortunate to have several industry rates guides in our business. The granddaddy or grand mama of them all is the SAG-AFTRA Rate Sheets. I say rates sheets plural because there are different ones for different contracts, for example, commercials, TV/theatrical/streaming, corporate educational and industrial, and so on.
If you’re a SAG-AFTRA member, these rate sheets specify in no uncertain terms the minimum rates you can work for. These rates are protected and enforced by the union for work done with any union signatory or with any union actor.
If you’re not a full member of the union, then you are eligible to do non-union work, and that work is not protected by the union and SAG-AFTRA rates do not apply.
So how do you know what proper rates are for non-union voice actors? Answer: In North America, we have the GVAA Rate Guide for non-union voice over, published by the Global Voice Acting Academy. If you’re not familiar with the GVAA Rate Guide, I’ll put the link in the description and show notes.
The major difference is that the GVAA has no jurisdiction to enforce these rates, so voice actors are free to charge whatever they negotiate. And therein lies the sticky wicket! Non-union rates can be the wild, wild west, because individual non-union voice actor is responsible for their own rates.
And here’s where it gets tricky. First, we have several different groups of non-union voice actors. Some are professionals, some are hobbyists, and some are amateurs. Some pros are full-time, others part time.
Secondly, there are some people who believe that newer pros should charge less. I do not! There are only two reasons to charge less than a professional rate:
You are not a professional – that is, you are a hobbyist or amateur, or
You are not trained well enough to provide a professional product.
If you call yourself a pro and are asking other businesses for money, then you are responsible for providing a professional product, because that’s the baseline assumption and requirement that the client will have.
If you can’t do that, then you are not yet a pro. Period.
Which is fine! Don’t call yourself a pro, don’t present yourself as one to businesses. Be transparent with them about where you are on your journey and what the client’s expectations should be, negotiate a rate based on that, and have fun.
Or, if you’re an amateur, that’s also awesome. Its ok to do work for free when you’re learning. Maybe you don’t even know that you ever want to go pro. Great! Have fun. Enjoy learning and maybe even making it a hobby.
But if you’re a pro, and if you’re asking another business for a professional relationship and for money, then you have to be grounded in two things:
That you can provide a professional quality product technically and artistically, and
You have to be grounded in your worth.
There is a difference between your rate and your worth, although the two are closely related.
What Is Your Worth?
Your worth is the value that you bring as a professional service provider. It is the value to the client of the problem you solved for them. Your rate is simply the monetary number you assign to that value.
So how do you determine your worth? What determines the value of the problem solved for the client and therefore, your rate?
Is it based on your time? No.
Your worth is not directly correlated to your time. Let’s say two voice actors narrate the same audiobook. Is the voice actor who can do the job in 30 hours less valuable than another who does the same quality work in 40 hours? No! The value of the problem solved to the client does not change based on the amount of work it takes the actor to do the job. That’s why audiobooks are priced based on the finished hour of narration and not how long it takes to produce the finished hour.
The same for a commercial voice actor. The one who knocks out the spot in 15 minutes doesn’t provide less value than one who takes 45. In fact, the 15-minute actor provides more value because the client gets that time back in their day and has an easier, better experience.
That’s why any hourly rate for voiceover does not favor more experienced, proficient voice actors. You often provide more value by doing the job in less time.
Your worth is not related to your time.
Is it based on cost of goods? No.
Your worth is not related you your cost of goods. In voice over, there is no cost of goods. A digital file costs exactly zero dollars and zero cents. The cost of goods is tied to the training, skills acquisition, and production of the product – things like coaching, gear, studio construction, legal and business expenses, and so on.
Does a voice actor with a $25,000 charge more because of that than one with a $2,500 studio? No.
Your worth is not based on the cost of goods.
Is it based on your experience? Not directly, no.
One of the great things about voice over, and J. Michael Collins made this point just the other day on social media: a well-trained but inexperienced voice actor can beat out a 7-figure veteran on merit for any given job. That’s to win the work.
That said, your experience can often allow you to better solve the problem of the client. And now we get to the heart of the matter:
Your worth is based on the value of the problem solved for the client.
So, what goes into that? Well, several things.
First, the financial value of the problem solved for the client.
For example, a commercial which could generate millions of dollars of revenue for the client is a bigger problem solved than a corporate training video which will not generate revenue.
A spot that will run nationwide will likely generate more revenue than one that only runs in a local market.
Technical narration, which is harder to perform than standard non-technical narration, is a bigger problem to solve for the client because of the added difficulty.
Rates are tied primarily to the financial value of the problem solved for the client. But not exclusively. Your worth has two additional factors.
Second, the value of the logistical problem solved for the client.
You may often be able to solve the client’s problem better, more quickly, and more easily than another talent. There’s value in that. If a client knows you can nail the read in 2-3 takes, and it takes another voice actor 5-10 takes, you provide more logistical value. That saved time is money back in the client’s pocket and they know it.
If you can provide a finished set of e-learning modules in 1 week, when a previous voice actor took 10 days for a similar amount of work, you are providing more logistical value.
If your communications are clear and you’re easy to work with, you’re providing more logistical value.
This is where experience generally comes into play. With more experience comes more skill at providing logistical value. You get better at the craft, you communicate better. You learn how to be low friction and provide a smoother, more joyful experience for the client.
So, experience can often mean you provide more logistical value for the client.
Third, the value of the emotional problem solved for the client.
The fact that the client has a problem that needs solving is a stressor. Sometimes major, sometimes minor. Often the client doesn’t even perceive it as a stressor – it’s just part of the job. But the effectiveness with which you solve that problem emotionally is the effectiveness with which you relieve their stress, anxiety, apprehension – whatever you want to call it.
Do you anticipate client needs and therefore eliminate or minimize stress for your client. Are you easy and fun to work with? Do you push back regularly or are you collaborative? Have you built a relationship based on trust? If the relationship is new, are you meeting and exceeding expectations in order to build trust?
Assessing and developing your worth on all three levels, financial, logistical, and emotional as a problem solver will allow you to get grounded in the rates you quote to your clients.
Getting grounded in your worth and your rates will allow to negotiate better, spot bad rates quicker and more easily, solidify what you look for in good clients and partners, and boost your confidence in your business, all of which will inevitably boost your confidence in the booth.
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We’ll see ya again here soon. Thanks for reading.