Is my hourly rate justified?

I have 8 years of experience in Software Development and related fields (Consulting, Web Development, Windows/Unix Software, etc...) - I have worked with more than 50 clients from about 5 nations in the past, receiving only superior feedback. I hold a customer satisfaction ratio of 9.58 out of 10 (best) at RentACoder.com.





Also, I have on-site experience in the U.S., U.K and Europe.





Additionally, I have launched a couple of products on my own which have been featured in magazines and on numerous blogs.





Currently, I am self-employed and I am planning on setting a fixed hourly rate. I was trying to figure out the best, justified rate for my situation and found that $60/hour would be ok.





Am I charging too much, too less, or how can I support my decision? (I have gotten the numbers from various salary surveys and reports and put myself into the average category).





Your help is very much appreciated!





Thank you

Is my hourly rate justified?
I am a business owner and former Fortune 500 IT Director in NYC in the US and previously in Seattle. I would pay 60 an hour for a coder on site or off site and have paid as much as 100 an hour for a highly skilled independent contracting Oracle DBA. Your rating on RentACoder.com is a good indicator of your value and the basis for what I would be willing to pay you. I have paid 150 - 175 an hour for coders through a company.





Someone else may have better advice but that was my experience.





Best of luck to you.
Reply:If people are willing to pay you $60.00 per hour, what's to justify? Aside from the fact that some people do back breaking labour for less, or risk their lives for less is not the point. You get what the market will bear, if $60/ hr makes you happy, don't fight it.
Reply:The market will decide your worth.
Reply:60 bucks an hour you should be counting your blessings every day man!!!!most people that i know are just making minimum wage and you sit pondering "oh whoa is me is 60 dollars AN HOUR TOO FREAKIN MUCH!!!!!!!!!!!!!!!!!!!!!!!!!!!!" ugh i am glad you have "launched a couple of products on your own" but this was a little smug. even your satisfaction ratio please bro.





oh and to Holly O saying she is a former director fortune 500 plz!!! you have been a member here since 10/13/06 and your at level 3 with 86 best answers which tells me you dont have a job or if you do it is one you dont like cause you have to answer a lot of freakin questions to get to level 3 and with only 2 months of answer time you have A LOT of free time to pose. how do you run your business if your on here allllll the time
Reply:Maybe you should find other people in you line of work willing to share with you how much they earn. You can get a feel for what is right. All i have to say is, 60 an hour? jesus christ!
Reply:i think what you charge depends on a few factors such as where you are located and on your overhead as well. But for simplicity's sake, go with what others in your industry charge. If things start to go well, then basic Econ 101 supply and demand will tell you its time to raise the prices. Good luck on your endeavors.