At the pro studio that i work they charge 155/hr, i do mastering (not pro but descent) for 30/hr (hobby work), and when i used to own a home studio, back about 3 years ago, i charged 1500/album, it took about 25 hours for recording and mixing so that comes out to about 60/hr. 8-)

Recording Studios around here charge from $20.00 to 80.00 an hour for 2 track recording time and from $20.00 to $160.00 + an hour for multitrack. Mastering is from $20.00 per hour to $80.00 per hour. A lot depends on how good you are, how much and what kind of equipment you have and how nice your studios are. Also most recording studios have block booking rates and/or project rates which can be significantly lower than their quoted rates.

We get "shopped" a lot by people who are trying to get into mastering so they will call up with a phony project and ask how much we would charge for mastering it. You could do the same in your area and call and find out what the rates are at the local studios along with what kinds of equipment they have and how long they have been in business then you can decide where you fit into the mix and charge accordingly.

One word of advice. Once you set your rates STICK TO THEM and don't start undercutting them for certain people as the word gets around the music community fairly quickly and everyone will know sooner or later that you are discounting your rates which makes it hard to EVER charge what you say your rates are.