Consulting Rate Decisions
Posted on October 10th, 2008, in Consulting | No Comments »
A blog that I really enjoy, ReadWriteWeb, recently surveyed some bloggers and consultants to see what the upper limit people are earning for their work.
They seemed pretty much on the money regarding blogging as a job, but it surprised me to see what consultants are earning.
No one we surveyed named an hourly consulting rate below $150 per hour. $300 per hour was the most common rate named. Some listed monthly rates of $2k to $4k per engagement, which we assume probably means 20 to 40 hours per month.
It is even more interesting to me, as I set my rate below the $150 an hour mark, despite creating value far beyond that rate.
I also find it funny as Jim Kukral, a very successful consultant has decided to give away, for free, a half a day, each wednesday, towards local businesses, entitled Bail Out Cleveland, in hopes of helping them to deal with the current market conditions.
Are consultants worth hundreds of dollars per hour? Well, it really depends on their experience and ability to distill and transfer their knowledge in a useful and actionable way.
I do think that some people might want to adjust their rates to make their knowledge easier to access during these rough times. I would also love to know how other consultants in any industry calculate their hourly rates, so if you are or have been a consultant, please comment below with the factors that you built into your rate sheet.
Go on. Post a comment.