Tuesday, April 19, 2016

How much do consultants get paid?

Hmmm.... this is a tough one because the answer is "it depends".

Quora has a good thread on the topic with the following insights:

"I believe an average benchmark for good consultants are about US$300/hour. For a classic consulting team in MBB (one partner, an engagement leader and 3 associates), a 3 month engagement is about US$1M."

So, let's back this up and assume that a consultant is about the same position as Robert Half's Practice Manager$125,000 - $173,500 (median ~ $150K). This rate assumes 2000 hours per year or $75 per hour. So, to get to our hourly rate we're probably looking at a factor of 4x hourly rate to get to the consulting rate.

Let's test this out. Robert Half has the median salary of a DBA at $120K or $60 per hour. So, our consulting rate should be about $240/hour. This provider gives us $275... not bad. What does Dice.com say? Hmmm... maybe not the data I'm looking for.


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