Average consulting fees can range anywhere from thirty dollars to thousands of dollars per hour. Understandably, most people who are interested in becoming a consultant want to discover average consulting fee statistics.
However, in order for average consulting fee data to be useful, it’s important to get specific and compare yourself to others in your industry:
1. There are many types of consultants. What consulting field are you interested in?
2. Can you get even more specific? Will you be targeting a specific niche within that field?
3. How are consulting fees in this field usually calculated and what do they usually include?
4. Can you find data that is relevant to your local area? Be aware of urban versus rural differences in consulting rates.
5. What markets will you be targetting? Small businesses? Governments? Individuals?
Once you’ve gotten specific about all of these questions, dig in and start researching:
- Contact industry-specific organizations (for example, the Independent Computer Consultants Association or the Association of Consultant Architects); and
- Make connections with working professionals in your area.
However, remember that the average consulting fee in your field does not necessarily have to dictate your rates. In fact, charging what everyone else charges is just one of the main methods for setting consulting fees.
- Setting consulting fee rates
- How do you set consulting fees?
- Consultant fee sticker shock
- Should you negotiate your fees?
- Consulting Fees: A Guide for Independent Consultants – A 62-page guide