Pricing hourly punishes efficiency.
So this is a pretty bold statement and it should be taken with a grain of salt. Hourly pricing can be incredibly advantageous in certain circumstances, like when you receive that first email from potential clients and, through their thousand-word introductory essay lousy with emoticons and unnecessarily capitalized words, they paint a clear picture that they are completely batshit insane. You know that there will be many rounds of revision in your future and that over the course of working together you’ll be as much a therapist as a designer. Totaling those 500 hours at whatever your hourly rate is will equal a pretty good pay day.
much food for thought from jessica hische in her ‘guide to assigning the right value to what you do‘
It’s incredibly important for even young designers to always quote respectable prices. It can be very tempting to create artwork for a “cool” company for very little pay and the promise of insane exposure/ an incredible portfolio piece.