As others mentioned, this is a buffer number, it's less about technology, etc. There's already some good answers here, but another aspect of this level of price should be respect. It's easier to command a bit of respect from clients at this rate (whether it's hourly, or daily or weekly).
But the respect should flow both ways here too. Treat your client and project professionally - answer calls, answer emails, show up to meetings when you say you will, etc. It's amazing how many people don't do those sorts of things. Really. I'm forever amazed at how low the professionalism bar is in our industry.
Having a higher bill rate allows you a bit of negotiating room if you need it - easier to come down from $150/hour to, say, $125/hour if need be. It's easier to comp a meeting to someone, or not always invoice for travel time. I've got colleagues billing $40/hr, and asking "should I bill for travel time to the meeting? How about the drive back home?" The idea of getting on a plane and flying to a client meeting, and getting a hotel, on their own dime, is outside their experience. If you're charing $150/hr, it's not unreasonable thing to do, ime. Even if you get reimbursed later, you've got cushion to float that for a few weeks - you're not living check to check.
IMO, the $200/hr dev is far more adept at servicing the non-technical aspects of the project - professionalism, people skills, project management, setting expectations, etc - or they hire people who are (agents, like in this article).
But the respect should flow both ways here too. Treat your client and project professionally - answer calls, answer emails, show up to meetings when you say you will, etc. It's amazing how many people don't do those sorts of things. Really. I'm forever amazed at how low the professionalism bar is in our industry.
Having a higher bill rate allows you a bit of negotiating room if you need it - easier to come down from $150/hour to, say, $125/hour if need be. It's easier to comp a meeting to someone, or not always invoice for travel time. I've got colleagues billing $40/hr, and asking "should I bill for travel time to the meeting? How about the drive back home?" The idea of getting on a plane and flying to a client meeting, and getting a hotel, on their own dime, is outside their experience. If you're charing $150/hr, it's not unreasonable thing to do, ime. Even if you get reimbursed later, you've got cushion to float that for a few weeks - you're not living check to check.
IMO, the $200/hr dev is far more adept at servicing the non-technical aspects of the project - professionalism, people skills, project management, setting expectations, etc - or they hire people who are (agents, like in this article).