Calling all consultants: I would appreciate your advice.

sfnative · ‎03-10-2010

After having retired mid-2013, I had every intention of starting a consulting business within 6 months. However, I became ill, followed by a total knee, followed by long-term rehab and now another surgery in February.

The good in all this is that I have had THE call I had been waiting for from Harvard Medical School. I bet most of you could write a book on the subject of being a consultant, but my initial question regards what my hourly rate should be. This probably varies per area of specialty, education, geographic location and much more.

Suffice to say I have 2 BAs, an RN, a lifetime secondary teaching credential and an additional 2 years of graduate school. The work I will be doing is specific to the development of surgical training facilities for medical schools; curricula for such programs; running such programs; and, teaching microvascular surgery. Additionally, I have many years experience with vendors, the "tools of the trade" (surgical instruments), international contacts, am published and can claim a fine reputation with both military and civilian personnel and facilities.

I live on the west coast. My first consult will be in MA. Can someone ballpark an hourly rate I should charge?

(Please - I know these are the Q forums, but we have a fine mix of folks who drop by here. This is just one place I have decided to ask this question.)

Thanks in advance to those who offer a reply.

Respectfully,

~R

Big Sister · ‎05-15-2010

I can't help you with an hourly rate, but I wanted to say Congratulations on getting THE CALL. Good for you.

Lindsays Grandma · ‎03-10-2010

I wish I could help you but along with big sister, I congratulate you and wish you lots of luck in your endeavor.

The moving finger writes; And having writ, Moves on: nor all your Piety nor Wit Shall lure it back to cancel half a Line Nor all your Tears Wash out a Word of it. Omar Khayam

spud188 · ‎09-23-2010

Wow congratulations.

Lilysmom · ‎03-09-2010

I don't know your business but I have consulting experience. You are doing the right thing to investigate competitive daily rates. In the beginning while establishing your business don't price yourself at the top of the market. If you do, it will cost your business. A slightly lower rate will generate more business. You can monitor your success, develop your business and go from there. Good luck to you on an exciting new career!

reiki604 · ‎03-09-2010

I would go on linkdin. There are many groups there made up of professionals who can give you a realistic idea of the current going rates for the region.

'I refuse to engage in a battle of wits with an unarmed man'.......Unknown

Catitude · ‎01-09-2014

Congrats!!...with your education and background I'm surprised that you would be in the dark about salaries and turn to the Q forums for up to date advice. I would research it on-line, call a head-hunter, register with linked-in, make some phone calls, etc. Good luck

sidsmom · ‎11-25-2011

On 1/7/2015 reiki604 said: I would go on linkdin. There are many groups there made up of professionals who can give you a realistic idea of the current going rates for the region.

ITA. I would think one having an extensive work/education history would know what they're worth...especially if just thinking about re-entering the work force. A home shopping network forum, albeit many members, would not be the litmus test for this type of important information. Good luck.

It is a nice "brag-atoid", though, yes?

Catitude · ‎01-09-2014

On 1/7/2015 sidsmom said:
On 1/7/2015 reiki604 said: I would go on linkdin. There are many groups there made up of professionals who can give you a realistic idea of the current going rates for the region.

ITA. I would think one having an extensive work/education history would know what they're worth...especially if just thinking about re-entering the work force. A home shopping network forum, albeit many members, would not be the litmus test for this type of important information. Good luck.

Ita

Deb1010again · ‎05-28-2013

Since this is your first job, so-to-speak, you don't want to scare them off. I would estimate somewhere between $200 - $300 an hour depending on what's being done. I'm not in the medical field, though.

My sister has a PhD and does some consulting so I'm going to ask her and I'll be back later tonight and give you that figure.

I moderated focus groups, developed market research materials (moderator's guides, questionnaires) performed analysis, developed models, did feasibility studies and other things. I typically broke out my fees per item and it was generally more than $200 - $300 per hour. My time to moderate two focus groups on one day was billed at $1000 (not including recruitment, moderator's guides, participant materials, analysis and stipends (out of pocket costs billed at cost))