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How do I “make up” rates?

I am getting some opportunities as a freelance developer, and that is good. However, I am new at this and I am not sure how to price my work. I am afraid that if I put high prices that I will push the client away, on the other hand I don't want to be used.

Should it be done by the number of code lines, technologies used, or the complexity of the problem being solved?

Should there be an initial price that I start with and then increase it with a fixed amount for each feature added to the software?

If there is some sort of a universal formula or method to do so please help me with it.

Thanks.

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read: answers.onstartups.com/questions/16647/… – jimg Aug 2 '12 at 21:52

marked as duplicate by JeffO, jimg, Elie, Ross, Christian Aug 14 '12 at 18:10

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1 Answer

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freelance developers usually charge by the day (or hour sometimes), the terms offered are usually fixed length contracts.

To figure out what the standard rate it - look for contract development job offers in your area, what companies are expecting to pay for your time is what you should charge.

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