I'm having a minor disagreement with a co-founder of a startup.
At our day jobs at software companies, he's a full-time employee and makes $40 an hour. I'm an intern at a different company and make $20 an hour. As far as coding skills and time needed to finish a given task go, I'd say we are pretty much even.
We are about to take on a project for another company, and they're asking for a price quote. To provide this, we're taking our estimated number of hours to complete the project, and multiplying it by our hourly worth to come up with a ballpark figure.
The disagreement comes from what our hourly worth is. According to my friend, we are worth "whatever people are willing to pay us" (at our day jobs). To me, this sounds ludicrous. We both have the same skills and are contributing equally here, so our time should be worth the same.
Which of these approaches sounds more reasonable?