I saw an interesting post over on MOGBlog entitled, Wanted: Two Million Dollars. It’s an interesting post about what it would take to make a small project, and the conclusion is that you could do it fairly inexpensively. If you could fit the project into 2 years, the post says, you could do it for under $2M.
Note: I’m not saying that you cannot make a game cheaper than this. Rather, I’m pointing out some of the missing expenses from the post I linked above. You can make a game for much cheaper, and several people have. But, if you want to hire 14 people and pay them the salaries listed, you will end up spending more even if you don’t hire anyone else. A true “indie” game will have a few underpaid and overworked developers that are doing multiple jobs simultaneously.
So, as much as I like such a can-do attitude, I have to show some gentle corrections in the figures.