We are in the process of selecting a group of Developers (3 deveopers and one project manager) for the creation of a new site.
This site is pretty much an ecommerce site which is pretty entailed. The team has come up with an estimation of 500hrs to complete this project.
We are now trying to agree on the hourly rate up front. They have suggested $50/hr and I am not sure if this is the standard and if we should be asking for a lower price since there are so many hours involved. All of the individuals involved have 9 to 5 jobs so they plan on doing this as a side project.
We were hoping to get some knowledgable asnwers and input from others?
Thanks in advance.