I started doing freelancing. I got my first job to create a set of reports. The business team has provided me with the sample reports and also some sample codes. My job is to query the database and generate output as pdf using iText. There are around 25 such reports with different complexities.
I am not sure how much to charge them. Can some one please help me in this?
The formula that I usually follow:
Initial Rate = Your hourly rate * worst case estimate of number of hours you'd need to finish this project + Expenses
Expenses = Power Cost + Money transaction costs (wire, western union etc) if applicable + Any hardware or software that you needed to purchase for your work + Internet Connection Costs
Final Rate = (1 - 0.3 * Probability of repeat business) * Initial RateTweet