Quote: "As for a rate, I wouldn't do anything for under $15/hr if you're not that experienced. I've seen people do it for as low as $10. I just came across a job offer in my area for $15/hr as a junior web programmer."
Between 12 and 15 is a complete ripoff! That's half of what you should charge for freelance work, unless he's hiring you as an employee and paying your social security, (in the states). In the states, businesses have to pay an equal amount of social security as you pay in yourself. They're not allowed to put this on your paycheck statement, so you're actually making boatloads more than you realize in a regular job.
As a free lancer, half of that money goes to taxes, so you're actually making just over minimum wage. No, you should charge 40 bucks an hour inexperienced. More once you have a project or two under your belt.
Trust me, if you charge 15 bucks, he's going to laugh at you, or take advantage of you. People don't believe me when I say it, but charge 40! He'll take it if he's got any kind of money to invest in this project, and you'll be happy knowing you're not getting burger flipping wages.
I gave the same advice to drewg (i think is his tgc name), and he's made good money and his customer that he was talking to me about was quite happy to pay it. If the guy hiring you can't afford 40 an hour, he can't afford a web designer.
Your other option, if he can't afford it up front, is profit sharing. It's perfectly acceptable if you believe he'll make money and you like his business sense. For farawayhost, this is what im doing with my partner, (since I don't have the few thousand dollars it would cost to do what he does). If you'd like to talk more in detail about it, I'd be happy to talk with you over chat. We can talk on google chat or msn chat
It's not just for BYOND you know!