Hi friends!

Anonymous

December 6,2022 at 2:23PM UTC

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Hi friends! I am about to make an offer a consultant for a strategy/marketing role at my company, and she will operate a bit like a senior VP/president. This will be 40 hours a week. She has about 15 years of experience, and the role is in person. I want to make a solid offer to her so we don’t have to do a lot of negotiating. Can anyone share the going hourly rate for a consultant? She’s in business for herself, not part of a group if that matters. Thanks!

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Alexis GladstoneDecember 6,2022 at 3:19PM UTC
There are several factors to consider. As a starting point I would take the annual salary for the role and divide it down to its hourly rate. This will give you a good base. Then you should factor in that an independent consultant isn't getting company fringe benefits that add at least 30-40% to a salary for someone at that level. Consultants also have other expenses like business insurance, taxes, etc.
When I look at taking on a full-time consulting role, I also consider the length of the contract. Working 40 hours per week for one client keeps me from doing most other business development and marketing activities. I think about how that will impact me once the contract is complete.
Finally, while you didn't ask this, are you sure this role can be contract under IRS rules? They are cracking down on long-term "consulting" arrangements.
AnonymousDecember 6,2022 at 3:32PM UTC
This is a great starting point! Thank you! And thanks for sharing your experience.
I think I am okay under the IRS because part of the reason for the hire is maternity leave, but I will double check!
Thank you again!
Crystal HowellDecember 6,2022 at 3:28PM UTC
Just look up https://www.salary.com in your area, it's usually pretty accurate?