My first year freelancing
It's good to do the exercise of doubling your salary and backing it out to an hourly to figure out what your cost floor is, but it's easy to show how this still gets you an under-the-market result: consulting companies can pay market salaries, handle 70-80% utilization, and still have strong margins.The "correct" way to work out your rates is to raise them until you drop down to a target utilization rate by shedding the clients who don't value your work. It's awfully hard to do this in practice, but it gives you an idea of what you're aiming for.As always, let me remind you: don't bill hourly. You are not a furniture mover.