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Something in the range of $50/hour (assuming US dollars within the US or the equivalent in industrial countries) is reasonable for professionals. It's about what artists charge to do illustrations...
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#4: Attribution notice removed
Source: https://writers.stackexchange.com/a/39883 License name: CC BY-SA 3.0 License URL: https://creativecommons.org/licenses/by-sa/3.0/
#3: Attribution notice added
Source: https://writers.stackexchange.com/a/39883 License name: CC BY-SA 3.0 License URL: https://creativecommons.org/licenses/by-sa/3.0/
#2: Initial revision
Something in the range of $50/hour (assuming US dollars within the US or the equivalent in industrial countries) is reasonable for professionals. It's about what artists charge to do illustrations and the like. Some charge more, some charge less. My guess is anything from $20-70/hour is what people might charge, but it really depends. I have not seen polls or all that many rates, so it's completely a guess, just to give you a ballpark. It is also reasonable to charge less per hour when you have a longer assignment. If it's a 1-2 hour job you should charge more than if it's a 10 hour job, since the parts you don't charge for (negotiating, setup, etc) will be proportionately less as you do more work. If you give your friend a discount, put the full price in the contract then state the discount, so it's on the record. If you decide to trade some of your fee in exchange for a byline or royalties, put that in the contract too. If you weren't thinking about a contract, I urge you to rethink it. Don't do this verbally. Even if you're best friends, it's still easy to misremember a detail (which can turn out to be vital) or have a misunderstanding. Make it super clear. Especially in regards to royalties, credit, and reprint rights.