First

Don't be afraid to ask fellow translators what they charge. Even if they are in the same language combination and specialty as you, 99 percent of the time they will be very forthcoming, and will be delighted to help you and give you the information you need to charge what you're worth. That's one of the many beauties of this profession: the remarkable willingness of translators to help one another and the near-absence of cut-throat competitiveness that afflicts other professions, such as law or fashion design. Additionally, ask fellow translators *why* they charge what they charge. Do they have a specialty or software package that gives them a competitive edge? Do they have a skill, such as editing/proofreading, desktop publishing, software localization, knowledge of HTML, astonishingly fast typing fingers, etc. that they take into account when setting their rates? Have they been in the business for decades and charge extra simply for their wealth of experience? Jot down the answers of each.

Second

When you have asked at least twenty translators what they charge and why, look at their answers and see if you can spot any patterns emerging. This is the best way I know of to get the "lay of the land" with regard to market demand for specialties, language combinations, etc. Do the more expensive translators boast a special software package or an "exotic" language combination? Are the less expensive translators charging less because they are just starting out, because they are in a country where translators generally charge less for their services, or because they are in a language combination that everyone is specializing in at the moment?

Third

Take out another piece of paper. Divide the paper into two columns. In the left hand column, write down all the resources, skills, and specialties you have that give you a competitive edge and would justify your raising your rates. Use your notes as a reference, and be sure to include any useful outside experience that would tie in to your translations and make them value-added. If you are an engineer or lawyer as well as a technical or legal translator, put that down. If you have journalism or writing experience, put that down too, because good translators must also be good writers. In the right hand column, write down anything that would compel you to lower your rates. Be completely honest with yourself. Are you just starting out? Are you non-accredited, non-certified, or both? Do you lack certain popular or useful software packages, computer hardware or peripherals? Are you doing a language combination that everyone else is doing? This may be the time to invest in yourself and learn a new language, brush up on an old secondary language that you've been neglecting, purchase new software, upgrade your computer, learn HTML, become accredited or certified, etc.

Here's an example from personal experience. I personally am relatively expensive compared to other Spanish > English translators, but I make no apologies for it. Although I have far less cumulative actual translating experience compared to other translators who've been doing the same thing for decades, and there is a glut of Romance language translators, I have a professional editing background, so my work comes out polished and well-written and requires virtually no post-editing. Furthermore, I'm certified, I also have the latest, in-demand software, I'm familiar with HTML coding, and I have paralegal training. So, in my opinion, these resources and skills add a great deal of value to my services and more than make up for my relative costliness -- I'm worth it. Give yourself an honest assessment of what you've got going for you. Add to what you've got going for you if possible, and you'll find that you're worth it, too.

Fourth

Whenever negotiating with potential clients, don't be afraid to point out your competitive edge when they balk at paying you what you've determined that you're worth. Politely yet firmly point out to them that they are not shopping for a homogeneous commodity like cereal or toothpaste, they are shopping for a service -- and there are translators that offer good service, and translators that offer not-so-good service. There are translators who will be able to give them what they need and deserve, and translators who will not be able to give them what they need and deserve.

Charge what you genuinely feel that you're worth, and don't undercharge. This is the most convenient way I know of to separate the "wheat" from the "chaff." The "wheat" -- clients who are supportive of you, appreciative of the work you do, and who are willing to pay you what you're worth -- is who you definitely want to work with. The "chaff," who whine that your rates are too high, are simply shopping for a "quick 'n' dirty" back-alley deal and want to get away as cheaply as they can; they're looking for a cheap translator in much the same way they'd look for a cheap box of cereal or toothpaste because they think it's all the same anyway. Translation isn't a commodity, it's a service with years of hard work and intellectual capital behind it, and their approach is indicative of how little they understand and appreciate translation as a profession. Bottom line is, stick to your guns. If someone doesn't want to pay you what you're worth...

...turn them down! Don't second-guess yourself or bend to their demands to accept a rate that's beneath your worth, because this opens you up to more abuse from them once you sign on the dotted line. If you let them go, guess who will come crying to you when the translator they hired to do a "cheap, quick 'n' dirty" has botched the translation up royally. In the translation industry at least, you truly DO get what you pay for. So don't be afraid to ask for what you're worth.