Logo design is is far different than other graphic design. Designer has to spend lot of time innovating ideas and concepts. Some time my designer come up with a unique logo in just an hour and some time he spend 5/6 days to complete the job. So pricing the same is bit difficult.

If designer get an clear instruction document on what exactly client is looking for he will give his/her best design. In my opinion the pricing should starts with $100 for initial designs (3 revisions) and may go up depends upon how much time one has to spend on getting the final output.

I advice both designer and client should spend more time on deciding a logo for the company as it leads to establish your brand. (my 2c's)