“For example, how much would it cost (roughly) for someone like Hoefler to design a new font family for Mastercard?”
(Originally a Quora question, and my Quora answer. But given Quora’s increasingly anti-user choices, I migrated the question here and updated my answer for current pricing.)
For a typeface of four styles, from a famous name type designer, with temporary exclusivity, you are probably looking at $100,000–250,000 and up as a rough ballpark. It might take them a year or more, although that won’t necessarily be full time on your typeface. This assumes no horribly extensive OpenType features, just basic ligatures and oldstyle figures, maybe small caps. I’m also assuming a western + CE character set (which is pretty common these days).
For ~ the same thing from a decently established but not famous type designer, you might expect to pay $30,000–75,000, roughly.
One rare public sharing of info about what a designer/foundry “should” charge was from Bruno Maag of Dalton Maag, a fairly prestigious type designer / foundry. He wrote “IMO, I think that a price of around US$ 20-25k per weight is appropriate for a Western European glyph set (ANSII), giving the client three years exclusivity. If they want to own the rights, double the price.” (December 2013 price quotation for a new custom font on typedrawers.com.) Add about 65% for inflation to 2024, then reduce that to only 50% because of heavy competition in type design, and that would make it about $30–38k per style.
So with permanent exclusivity, maybe double the price to USD $60–76K per style. Add CE coverage as well as exclusivity, but no small caps, and that “suggested price” perhaps goes to $70–88K per style. (Bruno says “weight” but presumably means style, so a regular four-member family is four styles—although only two literal weights, plus their matching italics.)
From a designer early in their career, or based in a developing country, or if the customer has lower quality expectations than mine and is willing to go with somebody who does lower quality and faster work, or some combination of such factors, you could end up with considerably lower prices, as low as $8,000–25,000 per font style.
Now, all this gets kind of weird and warped once one gets into variable fonts. Those might be prices per master, and then add somewhere between a quarter and half again at the end, depending on how extreme the masters are.
Some designers (e.g. John Hudson at Tiro Typeworks) try to figure out how complex the typeface design is in general, and then charge a price-per-glyph for that typeface. They figure that easier and harder glyphs will average out over the whole set. This seems reasonable to me, and I gather he is happy with it. (I have tried to estimate work by actually assessing a difficulty multiplier individually on different glyphs, and that was an absurd amount of work. I do not generally recommend it unless you have a specific reason, such as needing to assess relative work done by different people on the same project.)
These are pretty rough guidelines, based on my own experience in soliciting fonts for development from a variety of type designers, what I have been paid, my discussions with other type designers, plus discussions among type designers in a couple of fora.
