Thank you so much for your response Todd!
I’ve seen rates at post houses for around 225/hr like you’ve said but I’ve wondered if that also applies to projects that will last over months.. at 225/hr that would get super pricey. But is that just expected anyway? I don’t know that budget for the entire project but from what I calculated at my rate and the 30 hrs/wk minimum I expect it will take to complete this in 4-6 months, the total costs could be over $30,000. Is that too much to expect a client to pay? Or do clients actually expect to pay that? I’m new to the film editing (all my work has been in commercial spots and newscasts) so I just am finding it hard to believe I could actually be paid this much for one job haha. Please enlighten me!
Also yes you’re correct. He does want me to be a producer too (told me to “own” it).
You were also right on it being my own equipment. As far as skill level: I’ve been editing for almost three years (does that change things for the rate?) and am completely capable of putting this together in 4-6 months.
Lastly, I’m drafting a contract for the first time. Is requiring an advance of 25% of the lowest estimated total cost acceptable? I wouldn’t imagine I should get started tackling this large of a project with out asking for something upfront… right? Any other contract tips?