The Meter is Running: Setting Consulting Rates for Independence  

Setting your billing rate can be one of the most difficult and mysterious aspects of operating a consulting practice. There are nearly as many approaches as there are practitioners, with results that range from consultants who price themselves out of the market to those who fold because they simply cannot make enough money to survive. By employing a straightforward business model that includes estimates for expenses, labor and, yes, profit, independent consultants, both fledgling and established, can establish billing rates that are fair to consultant and client alike.

Juillet, Christopher. STC Proceedings (2002). Careers>Consulting>Pricing>Estimating