Don't work for free. Don't work for exposure. Don't work for peanuts. If you do something for free, do it for yourself and nobody else. A lot of people are really skilled at making it sound like they're doing you a favor to let you work for them. Let Tom paint his own fence.
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If someone says to you, "I can replace you in a minute," Get out of there. Creative managers often have magical fantasies of endless pools of trained talent lined up outside their door. Anyone who views you as utterly replaceable will never respect or lift you up.
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A creative career is still a career, and if a position isn't growing your career, be it through learning, branding, recompense, or advancement opportunities, then you're treading water there at best. At worst, any brand you've built is fading away day by day.
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Most of the people you work for as a creative aren't going to be interested in your well-being. They're interested in hitting deadlines, in earning annual bonuses. YOU must be interested in you, in your health, your family, your art, your reputation, and your career.
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In the end, one of the hardest things you will ever do as a creative is start to believe in your own value. There will be a lot of voices talking it down - managers trying to refuse raises, jealous competition, random haters on the internet....
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...But you must find that gold nugget inside yourself and hold it up and say, "I have value. I am skilled. Others want to employ my skills, and DAMNIT, they're gonna have to pay me for the privilege!" This is your very most precious armor as a creative professional.
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Working for cheap or free devalues the industry as well. Also, from another perspective, paying a fair price for those creative skills creates a good checkpoint for designers to make sure that the design is ready and not to kick things off prematurely because it's cheap to do so
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