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Figuring Out Your Billing Rate as an Independent Consultant

Successful Independent Consulting

This article explains how to determine your “base rate”, and the external factors that will impact your pricing. Links to articles on how to raise your rate or switch to a fixed fee are at the end of this one.) Other tips: Benchmark your rate to increase your confidence.

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Retail Bank Operational and Digital Leaders Reap the Rewards

BCG

Article Tuesday, May 10, 2016. BCG’s Retail-Banking Excellence benchmarking study (REBEX) profiles the operational and digital practices and performance of 20 of the world’s leading retail banks, a group of 40 institutions chosen for their size and the strength of their capabilities.

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Evaluating ROI on Your Company’s Learning and Development Initiatives

Harvard Business

Leaders can use an approach called balanced benchmarking, borrowed from operations management, to conduct a needs assessment and apply training where it can be most effective. Historically, the challenge with implementing learning and development programs has been the difficulty in quantifying the impacts on organizational performance.

ROI 65
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Bank Profitability: Decoding the Income Statement

Tom Spencer

A bank’s income statement can be simplified into five main line items: Net interest income Non-interest income Operating expenses Provision for credit losses (PCL) Tax Image 1: Illustrative example of a bank’s income statement Source: CIBC’s 2022 Annual Report 1. The biggest swing in operating expenses is likely to be variable compensation.

Banking 88
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The Five Practices That Set Operational Risk Leaders Apart

BCG

Article Tuesday, October 11, 2016. Bank operating models continue to evolve in response to new regulations, digitization, a volatile economic and risk environment, external threats, and advances by nontraditional competitors. The results show that some banks have begun to crack the code.

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Inflation: Understanding its Impact on the Economy

Tom Spencer

This article explores the nature of inflation, delving into its impact on different socioeconomic groups, the balance between inflation and unemployment, and the historical theories that have shaped monetary and fiscal policy decisions. Starting in 2021, however, America has experienced inflation rates of up to 9%.

Policies 147
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Quote Your Consulting Billing Rate with Confidence

Successful Independent Consulting

The tactics in this article will help if you bill by the hour or by the day. There are other ways to bill for your talent and expertise but those will be covered in another article. Benchmark so you know your rate is reasonable. It’s a matter of what they’re used to and their operating margins.