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If you accept a project rate, which is common in the producer world, have a contract with an end date. If the end date extends, the contract enables you to renegotiate for additional time spent.
Project rates are used to avoid paying OverTime.
We sometimes need to hire people on project rates to avoid runaway costs on super tight budgets. Some senior creative people like to work with project rates as they can deliver great work super quickly and can spend the rest of the time doing other things. So as long as the process is fair, this can be okay
Only on smaller clients, never at an agency.
SC1 - this is at an agency...any particular reason to stay away? Or something I can make sure I put in the contract. Thanks in advance for the help
I have a feeling this isn’t going to work in your favor
I think F1 has it right, put an end date to your projects and anything else that protects you and your time from being underpaid. An end date might be enough, I feel saying things like “x number of rounds” or “x hours per day” (though the latter seems to make a little more sense) might just work against you.
And I’ve just never done that with an agency; not necessarily by choosing, it’s just never come up as an option at all.
Never
I’ve negotiated project rates fairly often. @F1 is spot on. Get an SOW with key timeline dates, scope of work/responsibilities, total rounds of review internal vs client, and whether you require step payments.
And the moment any one of those things gets out of whack in the process, start charging your day rate on top of it.
End date is critical or you get screwed.