Great article by Aussi Designer Jacob Cass about identity design budgeting and understanding of fees. Here's a little taste:
Logo design in today’s world is totally under rated. People do not understand how important a good logo is and how valuable it is to their business and this is why I am going to outline some very important facts telling you exactly why logo design should not cost $5 and why your logo is not something you should take lightly. In broad terms, I will do this by comparing “cheap logo design” to “professional logo design” and I will outline the reasons why professional logo designers do not charge such low fees and why you should invest in a professional logo design.
(Thanks to Ryan Seslow for sending me this link.)