I may have exaggerated
My gross income (before expenses, taxes, etc) has been somewhere in the 'Specialized Illustrators' range for the last two years.
@Don:
Checked out your site. Lots of nice work!
The rule of thumb I've heard for freelancers is that you should be making at least double the hourly rate of someone working the same job in-house in your area (to cover office space, workstation, supplies, taxes, pension, etc). I'd guess the cost of living in Saskatoon is a bit lower than Toronto or Vancouver, so it wouldn't surprise me if salaries overall were lower, precipitating lower rates for independent contractors.
But I think you might be shooting yourself in the foot advertising your hourly rate. For example, if a certain project promises to be very lucrative for your client, they might be more willing to spend more for it. Or if you were to figure out how to do something faster, your customers would benefit, not you.
I like to think of pricing in terms of compensation; My client is getting a certain amount of benefit out of my work, so my compensation should be proportional in some way to that benefit. I have an hourly rate in mind as a minimum, but if they're going to use my image on every billboard, bus and broadcast across the country, I want my compensation to reflect the vast amounts of usage they got out of the image.
@Steven
Check the index under Salaries. (It was pg 115 in my book).
As a freelancer, you'll be lucky to put together 40 hours of work per week during your first couple of years. But you'll want to be working around the clock, building your marketing strategies, your business plan, your portfolio, investigating every avenue. Don't fall prey to Elance or similar sites where it's a race to the bottom in terms of price and quality. I'm even a bit skeptical about the effect of stock art sites like iStockPhoto on our industry.