To my way of thinking pricing needs to be fair and you need to have a formula of some kind. Personally I have different pricing structures for different kinds of work.
In the studio and on a location I charge a simply hourly / day rate.
Based on overheads. And a per print price, based on standard sizes and the client will receive a disk with all the images on.
5x7, 6x9, A4, and A3 I can also give more choices of lustre or fine art paper.
Larger prints and canvasses by request these can be mounted and framed, with a choice of papers.
For newspapers and magazines I negotiate but start with NUJ guidelines and I try to find out the publications going rate, it could be £5 or it could be £500 so it is vital to do some homework and they will try not to pay.
Nb where the price has not been negotiated, maybe because of the speed the image is required, I would always put my copyright details in the E-mail along with my contact details, bank account and sort code number. That way there is no uncertainty; you expect to be paid!
The book beyond the lens has a very helpful guide on pricing.
Working out your fee
It is suggested that each photographer will have different fees these will depend on experience, creativity, specialism and uniqueness, you will also have to consider the cost of running a studio, paying an assistant paying your insurances and all your other out goings.
Work out all your outgoings over a year, divide the total amount by the expected amount of working days, this will represent your minimum fee you will require.
Other ways to calculate a costing
Time (keep this as a set hourly fee)
What you will receive
A one-hour photo shoot
Five A4 prints.
Additional prints will be charged at
5’ x 7’ £7.50
6” x 9” £9.50
All images on a USB stick. £250
Extras you might consider when partaking in an exhibition,
Souvenir Print £19.50
Zine’s 32 page £7.00
Set of 6 cards £5.00
Greetings card £1.75