Consulting industry - average consulting project fees worldwide 2018 Size of management consulting market by region 2019 Consulting industry - monthly earnings worldwide 2018 Note that average fees of purely the management consulting practices (e.g. National / Regional Functional Specialists position themselves, in terms of rates, similar to the Big Four and their larger global counterparts, although their exact fee structure will depend on among others their reputation and track record, functional focus and service portfolio. IBI Group buys Markham-based consultancy Cole Engineering. PayScale just to get an idea of the averages in my line of work. Peter MacKay joins Deloitte as senior advisor. Deloitte Contractor-site Hourly Rates Page . Robert Fields leads Mace in Australia and New Zealand. Business Consulting - Hourly Rate - Get a free salary comparison based on job title, skills, experience and education. The highest rates in consulting are charged by the Global Strategy Consulting Firms, such as McKinsey & Company (the largest firm with roughly 17,000 employees), Boston Consulting Group, Bain & Company, Strategy&, Roland Berger and A.T. Kearney. Accountancy, Audit) or operational disciplines within IT Consulting. Based on available data in the market* Consultancy.org presents a simplified and indicative view of fees in the consulting market: The figure uses the revenues per consultant per annum as a proxy for average rates and the number of consultants as a proxy for firm size. Note that these are reported utilization rates rather than targets. Three types of firms find themselves in the consultant revenue range between $150,000 (R1 million) and $220,000 ( R3 million) per year. What is known, though, is that rates can differ widely, from an hourly rate of R250 for an interim consultant working on an operational level to R1400 or more per month for a consultant from a leading strategy consulting firm. Strategy Boutiques, high-end firms that have a national/regional focus, follow in terms of rates. Strategy Boutiques, high-end firms that have a national/regional focus, follow in terms of rates. The highest rates in consulting are charged by the Global Strategy Consulting Firms, such as McKinsey & Company (with roughly 17,000 employees the largest firm), Boston Consulting Group, Bain & Company, Strategy&, Roland Berger and A.T. Kearney. Global Functional Specialists – such as Hay Group, Mercer and Willis Towers Watson (focus on HR) or FTI Consulting and Navigant (focus on financial advisory) – typically have a revenue per consultant between $300,000 and $400,000 per year. What is known, though, is that rates can differ widely, from a monthly rate of INR 24,000 for an interim consultant working on an operational level to INR 1,80,000 or more per month for a consultant from a leading strategy consulting firm. Strategy Boutiques, high-end firms that have a national/regional focus, follow in terms of rates. Learning to set your rates also means avoiding some of the mistakes beginning consultants often make. Based on available data in the market* Consulting.ca presents a simplified and indicative view of fees in the consulting market: The figure uses the revenues pe consultant per annum as a proxy for average rates and the number of consultants as a proxy for firm size. Consulting firms – especially those active in the higher segments of the market – do not unveil their fee structure. In the US, the industries with the highest turnover rates include Staffing (352%) and Hotels (up to 300%), largely as a result of temporary staff and contract work. EY Canada last month acquired IDMSense, a Mississauga, Ontario-based boutique cybersecurity consulting firm. Strategy Boutiques, high-end firms that have a national/regional focus, follow in terms of rates. What is known, though, is that rates can differ widely, from an hourly rate of R250 for an interim consultant working on an operational level to R1400 or more per month for a consultant from a leading strategy consulting firm. IT Consulting Rates in the UK: 2020 Overview. If you double this and round up to the nearest multiple of $5 or $10, your consulting rate should be about $80 an hour. The highest rates in consulting are charged by the Global Strategy Consulting Firms, such as McKinsey & Company (the largest firm with roughly 17,000 employees), Boston Consulting Group, Bain & Company, Strategy&, Roland Berger and A.T. Kearney. Financial. Accounting: $96 – $106 per hour. Consultants who are specialists and make it clear in their marketing have a higher average consulting engagement value — 25% more of them make $20K-$100K+ per consulting engagement than consultants who don’t make their specialization clear. The deal was advised on by consultants from PwC’s M&A arms in Australia and Italy. By day, Marie Turin is a strategy consultant at Oliver Wyman, but when she is off-duty she is better known as singer songwriter Slow Jane. These are basically the standard that consultants are expected to adhere to if they are offering their services. Crossword helps Sultan Qaboos University design cyber challenges. If you’re pondering average consulting rates, you probably need to finetune your search. The last strategy to know how much to charge for consulting is getting the average consulting rates by industry and charging what everyone else in your industry is charging for. The highest rates in consulting are charged by the Global Strategy Consulting Firms, such as McKinsey & Company (with roughly 17,000 employees the largest firm), Boston Consulting Group, Bain & Company, Strategy&, Roland Berger and A.T. Kearney. The category Mid-size Global Accountants refers to the top 20 global professional services providers, excluding the Big 4, such as BDO, Baker Tilly, Grant Thornton, RSM and PKF. Consulting firms across the globe regularly come under scrutiny for the fees they charge their clients. If you’ve never run a business, the field of human resources (HR) might not seem that important. The highest rates in consulting are charged by the Global Strategy Consulting Firms, such as McKinsey & Company (the largest firm with roughly 17,000 employees), Boston Consulting Group, Bain & Company, Strategy&, Roland Berger and A.T. Kearney. 1. of . When you triple your wage and round up to the nearest multiple of 5 or 10, you should have a reasonable rate for providing for all 3 of these payments. Over the past few decades, the global consulting market has grown to become a multi-billion dollar industry. In Alan Weiss’ excellent Value-Based Fees book , he recommends a 4:1 ROI fee; for every $4 in new revenue you help a business earn, you keep $1, or 25%. What do you need the information for? , many computer science professors can moonlight as software engineers). Among the factors you’ll need to consider are your own personal skillset and the going market rates within your industry. Strategy Boutiques, high-end firms that have a national/regional focus, follow in terms of rates. The highest rates in consulting are charged by the Global Strategy Consulting Firms, such as McKinsey & Company (the largest firm with roughly 17,000 employees), Boston Consulting Group, Bain & Company, Strategy&, Roland Berger and A.T. Kearney. The total U.S. industry market size for Management Consulting: Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size. Battery minerals (lithium, cobalt, nickel, manganese, graphite) is set to be a hot segment of the merger & acquisition market in 2021, according to Philip Wheeler, a partner at L.E.K. In the U.S., small business consulting fees range from $95 to $1,500, with an average cost of $399. Thus the hourly rate should be calculated on the basis of about 1210 saleable hours (1980 – 770). Their annual fee income can range from anywhere below $50,000 a year (for operational support) to above $400,000 (for executive consultancy/interim). Here’s what the hourly rates are for 8 prominent industries: Consulting hourly rates by industry Multimedia & design - $20. Government and nonprofits are used to paying much less than corporations. Market an E-Book. The hourly cost of consulting fees range from about $45 to $150 per hour. Market Size & Industry Statistics. Consulting firms across the globe regularly come under scrutiny for the fees they charge their clients. Strategy Boutiques, high-end firms that have a national/regional focus, follow in terms of rates. Cookies help to provide a more personalized experience and relevant advertising for you, and web analytics for us. In essence, there is no ceiling to the hourly rates consultants can charge (with some exceptions in the public sector). The Sultan Qaboos University has brought in experts from Crossword Cybersecurity to help it with developing the programme for the qualifying rounds of the national cybersecurity capture the flag tournament. Regarding the question of setting consulting fees on a simple daily rate basis, I would recommend as follows: Step 1: Estimate what YOU would expect to be able to get per annum in perm employment, including cash benefits such as bonus, car allowance etc., but excluding things like pension, private medical insurance etc. When I was retooling my rates last year, I used a compensation database e.g. It is important to keep in mind that the above analysis from Consultancy.org presents a simplified and indicative view of rates. Strategy Boutiques, high-end firms that have a national/regional focus, follow in terms of rates. In particular, the high hourly rates billed by the most prestigious consultants in the marketplace tend to invite debate. In addition, fees commonly vary per region/client/service offering, so firms keep tight control over their fee structure to minimise the threat of reputation risk, public debate or having to renegotiate their fees with clients. 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