There’s a lot of useful information out there but I’ll break it down in a way that made the most sense for me and hopefully for you as well.
Work backwards from a salary
First you should identify an average starting salary for a junior designer: I think 30K — 50K is a realistic entry point but is largely influenced by the
“type” of design you’re doing. For example, design with a tech focus (ie: product design, ux design, visual deisgn) will (usually) command a higher salary. Design jobs found within a corporation will (usually) offer a higher salary and better benefits.
Always factor benefits into your total salary. Health care, retirement, child care, etc. Healthcare alone, for a family, could be $400+ a month. If working for yourself you will also want to add in taxes to that equation (more on that later).
Lets say that starting out you want to hit a 35K a year salary:
So 35K — divide by 12 months in a year — divide that number by 4 weeks a month — divide that by 40 hrs a week = $18hr
Lets break this number down by context:
Agency/In-house: Offer is 35K but the benefits add (full or some healthcare = $3,500+, 401k matching = $1000+, employer pays half federal…
