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Why Your Organization Should Use Salary Benchmarking

Harvard Business

A key solution lies in salary benchmarking — using aggregated market data to establish competitive pay rates. payroll processing company revealed that access to robust benchmarking tools doubled the probability of firms setting the “right” salary. That means employers must find new ways to determine appropriate compensation.

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Now Is the Best Time to Raise Your Rates

Successful Independent Consulting

Do some market-rate benchmarking to learn what other consultants are charging, or what clients are paying. Make it a policy. I also recommend making it your policy. Literally create a document titled “Rate Policy” and write down what rates you charge for what services. for year one, $165 for year two, and $172.50

Policies 195
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Now is the Best Time to Raise Your Billing Rate

Successful Independent Consulting

Do some market-rate benchmarking to learn what other consultants are charging, or what clients are paying. Make it a policy. I also recommend making it your policy. Literally create a document titled “Rate Policy” and write down what rates you charge for what services. for year one, $165 for year two, and $172.50

Policies 195
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How and When to Raise Your Consulting Rate

Successful Independent Consulting

Third, do some market-rate benchmarking to learn what other consultants are charging, or what clients are paying. Make it a policy. I also recommend making it your policy. Literally create a document titled “Rate Policy” and write down what rates you charge for what services. for year three. Effective Jan.

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Now Is the Perfect Time to Raise Your Consulting Billing Rate

Successful Independent Consulting

Do some market-rate benchmarking to learn what other consultants are charging, or what clients are paying. Make it a policy. I also recommend making it your policy. Literally create a document titled “Rate Policy” and write down what rates you charge for what services. for year one, $165 for year two, and $172.50

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Quote Your Consulting Billing Rate with Confidence

Successful Independent Consulting

Benchmark so you know your rate is reasonable. Figure out your market rate. This is your market rate. If you plan to work for different types of companies, consider coming up with two rate scales ("market pricing") — one for large companies and one for small. There are lots of ways to do this. Don’t discount.

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The Chimera of Consulting: Government and Public Sector Advising

Tom Spencer

MBB strategy firms and the Big 4 professional services companies all have departments specifically designated for public policy and chartable organizations, which is by no means a coincidence. Benchmarking creates additional complexity for public sector consulting, which private firms do not need to face. Different mindset.