Bid it for what you NEED to get to do the job and be profitable. Any less than that and you're better off not doing it. Dont worry about what "the other guy" gets. He doesen't have YOUR equipment, costs, etc.... only YOU know what those costs are.
No sense in taking a job (esp. on a contract) and losing money on it, just to outbid the next guy!
No sense in taking a job (esp. on a contract) and losing money on it, just to outbid the next guy!