This is the advice I offer to all of my freelancing friends and repeat to myself every morning: "Whatever I'm charging, I should double it."
There's a limit on that school of thought, but if have the option of 2 freelancing contacts at X, or 1 at 2x, I prefer to focus on one client at a higher price point.
I figured out my starting freelance rate by taking my per-hour salary from my day job and doubling it. Then, whenever I had too many clients at that price level (generally 2+ back-to-back) I increased my rate by 50% to 100%.
This has worked great for me through multiple iterations. As my portfolio, contacts, and experience grows, so does my rate. I'm left earning a good amount for my freelance work, and have the luxury of turning down work that isn't paying enough or is too much of a hassle to coordinate.
There's a limit on that school of thought, but if have the option of 2 freelancing contacts at X, or 1 at 2x, I prefer to focus on one client at a higher price point.
I figured out my starting freelance rate by taking my per-hour salary from my day job and doubling it. Then, whenever I had too many clients at that price level (generally 2+ back-to-back) I increased my rate by 50% to 100%.
This has worked great for me through multiple iterations. As my portfolio, contacts, and experience grows, so does my rate. I'm left earning a good amount for my freelance work, and have the luxury of turning down work that isn't paying enough or is too much of a hassle to coordinate.