Agreeing with other people in here: <big company site> cost <big company> more money and time than your client is paying. It's fair to tell him so. Possibly he'll agree and re-negotiate your rate up, but I doubt it. This sounds like one of patio11's pathological customers, whom you're better off without. I'm not sure what that does to your Elance reputation though.

Now, I don't have any Elance experience so take the following with grain of salt. If you're still interested in trying to source clients there, you might try raising your rate to something you'd prefer. In fact, raise your rates to something that seems outrageous to you. If you're competent at all you're probably undercharging. The higher rate will attract a different breed of client who won't balk so long as you have a portfolio of work you can point at as an example of what you're capable of.

All this advise is obviously colored by my current situation. I've got a great day job, but I moonlight occasionally. I bid much higher rates than most people who come to me (by word of mouth) are expecting. Because I value my free time, I bid high enough on projects that if the prospect actually engages me I won't regret losing the free time. And if they walk away, hey, more time for me to work on my own stuff.