What's a reasonable hourly rate for private consulting?
August 20, 2012 9:26 AM Subscribe
How much should I charge for consulting, when it's about something (grad school admissions) where consulting is uncommon? I've never done this, so I'm not sure what a reasonable hourly rate would be.
posted by Beardman to Work & Money (18 answers total) 6 users marked this as a favorite
I might be retained as a consultant by someone who really wants to do a Ph.D in the department where I recently got my doctorate. My job would basically be to give advice to help him strengthen his application package--look over and critique his statement of interest, his writing sample, and possibly some of his external grant applications.
(He knows this service is not normal in academia, but everyone else in his family is in business/finance, where 'getting a consultant' is often just what you do. I guess their thought is that it can't hurt to get someone's opinion who's been through the process relatively recently.)
What hourly rate should I propose? A bit of Googling suggested the rule of thumb that for consulting, you should double or triple the hourly rate you make at your own job. For me, double would be $80/hour. That strikes me as steep, but I really have no idea how this stuff works. And when I consider that I'll probably only do a few hours of work (my estimate is 5-10), it seems less stratospheric.
What do you think?