Calculate Your Internal Hourly Rate
I call this the Internal Hourly Rate, or IHR, because you will rarely, if ever, quote this rate to a client. The IHR is the rate you plan your quotes and estimates around, and it's the hourly rate you've determined will make you a decent living over the year.
You might be tempted to search online and in your area for price lists to base your IHR upon. Seems logical, right? Well, it is, only inasmuch as it can give you a VAGUE idea of what people who might be more or less experienced and talented as you charge. You can check out the AIGA salary survey for a sample of graphic design salaries.
1. Figure out how much you want to pay yourself. When setting your graphic design price list, remember that YOU'RE the client.
Try the Freelance Switch salary calculator to calculate an hourly rate for yourself. It has you input your business expenses, personal expenses, and how many hours you plan to bill weekly, and spits out an ideal and a break-even hourly rate.
Keep this rate in mind when putting together proposals and quotes.