Hourly Rate for Spreadsheet Consulting

[bbatson]

What would you estimate the average hourly rate is for spreadsheet consulting? Obviously the rate will vary from consultant to consultant and from project to project, but what is a reasonable range to charge, in your opinion?

 

[eliW]

What do you gonn'a pay for an answer???

 

[bbatson]

In all seriousness, does anyone have any experience with this?

 

[VoG]

Charge what you think the market will bear

You will see that all of the consultants have been quiet and understandably so.

About 18 months ago I did some 'extra mural' work for some ex-colleagues. I charged them at £350/d (~$700/d) based upon a quote for X days and if I didn't find a solution after X days then no fees and a maximum of X days. I actually use a similar formula professionally for consultancy (not Excel) - i.e. I will charge you at my day rate up to a maximum days but will bill you for days actually spent.

The £350/d was based on my minimum professional charge out rate for the company that I work for divided by two as I have no real overheads as an individual.

I should add that I am not an 'Excel professional' - far from it. My company charge me out as a chemist.

Food for thought?

 

[atmospheric]

A similar question asked here:

http://www.mrexcel.com/board2/viewtopic.php?t=188010

 

[SydneyGeek]

I tried answering last night but the Board cut out at the critical moment. Try the following:

1. Taking into account no paid holidays, sick leave or super, and therefore thinking of the whole package, work out what you would like to earn for the year (without being silly...)
2. Divide this by 48 or 49 to allow for 4 (or 3) weeks' vacation. This is your weekly target
3. Work out your average weekly billable hours, and divide weekly by hours to get your hourly rate. Be conservative here. Most consultatnts assume about 75% billable hours. For corporates, raise this a bit. For small clients, drop it a bit.

Each year, based on your experience and the industry you are working in, revise.

Denis