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I am a freelance graphic designer, but also a full time student with a full time retail job. In my regular job I do no design work. The freelance has not been very often, because of how busy I am.

I was recently recruited to design a logo and entire interface for a new app that's being developed. I'm not sure what I should charge, because I haven't designed an app interface before. I was offered what seems like an obnoxiously low payment for the entire job.

Is it unreasonable to require hourly payment, or is it better to be payed by the job? What would be a reasonable amount to charge by the job (in an L.A. suburban area)? I am very skilled but like I said, don't do this very often.