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Started By
Message
Consulting on the side.
Posted on 6/17/15 at 3:19 pm
Posted on 6/17/15 at 3:19 pm
Does anyone here happen to do any consulting on the side? I was approached by a research group that is part of a multi-billion dollar investment firm. They are seeking some general info pertinent to our industry and trying to foresee the trends. They are asking for 2-3 quarterly calls lasting 20 to 30mins. I was handed this by our CEO, so I have permission to do so. I have never done anything like this. What should I seek for compensation? $1,000/hr. 
He told me not to go cheap.
Again, any advice would be appreciated.
He told me not to go cheap. Again, any advice would be appreciated.
8
Posted on 6/17/15 at 3:25 pm to TheWiz
As your consultant on this, I will not be cheap.
Posted on 6/17/15 at 3:56 pm to TheWiz
I bill out at 250.00 an hour, I know you said the call is :30 but do you need to prepare for the call? Will each call create follow up for you to do?
Posted on 6/17/15 at 4:23 pm to TheWiz
quote:Dare I ask.... exactly how does one declare oneself a "Consultant"?
Consulting on the side.
Posted on 6/17/15 at 9:36 pm to TheWiz
$1,000/hr might be pushing it. 
Posted on 6/17/15 at 10:29 pm to TheWiz
Have them make the first offer. Not only is that good practice generally, but they probably have a pretty good idea of what they consider "normal". Of course, you counter with something considerably higher but at least in the ballpark.
Also consider that unless they sign you to something exclusive you can then pimp yourself out to their competitors. Just call them up and say "Hey, firm XYZ approached me for my opinion so don't you want to hear it too?" You make a quite a bit of coin that way. But OTOH if they want exclusivity then of course they should pay extra.
Also consider that unless they sign you to something exclusive you can then pimp yourself out to their competitors. Just call them up and say "Hey, firm XYZ approached me for my opinion so don't you want to hear it too?" You make a quite a bit of coin that way. But OTOH if they want exclusivity then of course they should pay extra.
Posted on 6/18/15 at 7:26 am to TheWiz
When my dad retired from chevron they offered him 2k a day to come back as a consultant so 1k per hour may be steep.
Posted on 6/18/15 at 8:27 am to TheWiz
just think about it like this....anything you make cut it in half and thats your take home.
Posted on 6/18/15 at 9:31 am to TheWiz
I would use the following formula:
Annual Total Comp x 6 /1000
Annual Total Comp x 6 /1000
This post was edited on 6/18/15 at 9:33 am
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