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Many professionals would love to do more speaking at conferences and conventions. But when the invitation comes, they’re often paralyzed by money: Is it appropriate to ask for some? And if so, how much?

First, it’s always worth inquiring about their budget. If you don’t ask, conference organizers are delighted to never bring up money at all and assume you’ll speak for free. Raising the issue forces them to admit it would be pro bono, or allows you to start a conversation about fees. For instance, you can email them: “Thanks for getting in touch about your conference. It sounds really interesting. Can you provide some additional information about the topic you’d be interested in having me address, who the attendees will be, and your speaker budget?”

Note that if you work for a corporation and your talk is related to your professional role, it’s rare that conference organizers will offer to pay you. It may not be fair — especially if other speakers are getting paid and you’re not — but it’s generally assumed that your company should be grateful for the additional exposure and that your talk is simply part of your job description, for which you’re already being compensated.

Second, ask the right questions about the event they’d like you to speak at. Your ability to name your price varies based on the type of event, and you’ll want to scale your expectations accordingly. Early on, ask the organizer questions like:

• How many people are expected to attend the talk?
• In general, who will the attendees be (title, level of seniority)?
• Where will it be located?
• What’s the context of the event (conference, internal professional development, client appreciation event)?
• Will this be a keynote talk (generally 45–60 minutes), or a breakout session?

These questions will help you determine how important the event is and will give you a sense of how much the organizers will value your participation. The more high-profile the event is — maybe it’s for hundreds of senior executives at a resort in Aspen, for instance — the more budget they’re likely to have available. Meanwhile, if it’s a “lunch and learn” for a dozen interns, then they may not be lying when they tell you they only have $500 to spend.

Here’s a rule of thumb for appropriate pricing:

• Newbie speakers might earn $500–$2,500 for a talk.
• Beginning speakers, or those just establishing a brand with their first book, might earn $5,000–$10,000.
• Those with several books and other forms of “social proof” might draw $10,000–$20,000.
• Those who are very well-known in their field, such as best-selling authors, can bring in $20,000–$35,000 per talk.

Third, it’s worth determining the circumstances under which you’d be willing to speak for free. Early on, speaking for free is a perfectly reasonable strategy. You can practice your skills and hone your craft, and it exposes you to audiences that may want to hire you for further engagements. “In the early days, I spoke for leads,” recalls author John Jantsch, whom I profiled in my book. “I would go to whatever group asked me, if I thought there were prospects there, and I would give them a great educational experience.

Undoubtedly, two or three people would come up and say, ‘Can we talk about me hiring you?’ To me, that was the payoff.” The way he looked at it, if he could drum up consulting business, it wasn’t a free speech at all. “That might have been a $100,000 speaking gig, with the right couple of engagements that came out of it.”

Paid speaking can be a lucrative and enjoyable activity. Naming your price can feel daunting, and money is difficult to talk about in general. But by following these principles and familiarizing yourself with industry norms, you can tap into an exciting new side hustle and start earning what you’re worth.