PRLog Free Press Release Distribution
Home| Submit Free Press Release| News Archive| By Category| By Location| By Date| Newsletter| 40,000 RSS Feeds 02:19 PM [GMT -05:00]
 

Filter

Category

Country

State / Province
Select Country First

City / Town
Select State First

Consulting Firms with Established Brands Receive Higher Hourly Rates by up to 35%


RainToday.com Releases New Fees and Pricing Benchmark Report: Consulting Industry 2008
Source: RainToday.com/Wellesley Hills Group
Apr 23, 2008 12:01:54
Click to see PDF Version of this Press Release


FOR IMMEDIATE RELEASE

PRLog (Press Release)Apr 23, 2008 – The newly released research study from RainToday.com and the Wellesley Hills Group titled Fees and Pricing Benchmark Report: Consulting Industry 2008, finds that while brand leaders (27% of responding consulting firms) and “not very well-known” firms (73% of responding consulting firms) have similar standard / book rates, the hourly rates brand leaders actually get were always higher than their counterparts. The increase by level of professional is as follows:

•   Highest-level professionals (CEO, Principal): 20% higher
•   Upper-level professionals (VP, New Partner): 11% higher
•   Advanced-level professionals (Directors): 29% higher
•   Mid-level professionals (Managers, Post-MBA): 20% higher
•   Entry-level professionals (Associates): 35% higher

“It’s logical to assume that brand and reputation have a strong impact on a firm’s ability to charge higher fees. Now we know by how much,” said Mike Schultz, Co-President of Wellesley Hills Group Publisher of RainToday.com. “Firm leaders need to know this data as they build strategy for growing their revenue and maintaining healthy margins, and marketers need to know this data as they work to implement marketing and branding strategies that will have the greatest impact.”

With 645 respondents in the consulting industry, Fees and Pricing Benchmark Report: Consulting Industry 2008 provides the actual hourly dollar fees brand leaders get vs. lesser known firms, and includes actual fee data from 4 consulting specialties (operations, IT, strategy and management, and HR/OD and training). Other major findings include:

•   Median hourly rate index broken down by industry specialty, level of professional, and firm category (brand leaders and premium-price firms)
•   Discounting norms, including how often consulting firms discount their fees and by how much
•   What consulting firms see happening in the next two years regarding their fees
•   Consulting firms’ profitability levels and analysis of the most profitable firms
•   Critical factors that have influenced pricing increases and decreases over the past two years

“People want to know about how they compare to others regarding fee structures, pricing approaches and strategies, discounting, and overall pricing challenges,” said John Doerr, Co-President of Wellesley Hills Group. “Knowing how competitors in the industry are pricing their services will help firms be more competitive and more confident in their pricing.”

Fees and Pricing Benchmark Report: Consulting Industry 2008 is the first of five industry reports to be released. Forthcoming Fees and Pricing Benchmark Reports will be released for the following industries: Marketing, PR, and Advertising; Accounting and Financial Services; Law; and Architecture, Engineering, and Construction.

For additional report details and to view a complete table of contents of the Fees and Pricing Benchmark Report: Consulting Industry 2008 report, please visit the RainToday website at http://www.raintoday.com/feesandpricingconsulting.cfm.

This research report is sponsored by Deltek: http://www.deltek.com/pricing.

About RainToday

RainToday.com is the premier online provider of information, resources, and tools for service business rainmakers, marketers and leaders. RainToday.com features the most up-to-date resources including articles by industry experts, how-to-guides and tools, sales and marketing research reports, webinars and events, and a weekly newsletter. For more information, visit http://www.raintoday.com.

About Wellesley Hills Group

The Wellesley Hills Group (http://www.whillsgroup.com) is a management consulting, marketing, and lead generation firm focused on helping professional services firms grow. Wellesley Hills Group publishes RainToday.com (http://www.raintoday.com) to provide a premium source of information for professional services firms and service practitioners to help them market and sell their services.

Contact Information:

Erica Stritch
General Manager
RainToday.com

estritch@raintoday.com
p. 508-405-0438 ext. 310
f. 508-848-3082

# # #

About RainToday

RainToday.com is the premier online provider of information, resources, and tools for service business rainmakers, marketers and leaders. RainToday.com features the most up-to-date resources including articles by industry experts, how-to-guides and tools, sales and marketing research reports, webinars and events, and a weekly newsletter. For more information, visit http://www.raintoday.com.

About Wellesley Hills Group

The Wellesley Hills Group (http://www.whillsgroup.com) is a management consulting, marketing, and lead generation firm focused on helping professional services firms grow. Wellesley Hills Group publishes RainToday.com (http://www.raintoday.com) to provide a premium source of information for professional services firms and service practitioners to help them market and sell their services.

# # #

Visit Press Room   Email to Author   Email to a Friend       Previous News   Next News

Share this article on   Bookmark on del.icio.us   Bookmark on technorati.com   Bookmark on stumbleupon.com   Bookmark on reddit.com   Bookmark on blinklist.com   Bookmark on furl.net  




Email:Click to contact author
Phone:508-405-0438 ext. 317
Address:600 Worcester Road
City/Town:Framingham
State/Province:Massachusetts
Zip:01702
Country:United States
Categories:Business, Publishing, Report

Disclaimer:   Issuers of the press releases are solely responsible for the content of their press releases. PRLog.Org can't be held liable for the contents of the press releases.   Report Abuse

Most Viewed (Last 7 days)

UK Supermarket Chain Bans Aspartame From Own-Label Products; Japanese Manufacturer Ajinomoto Sues! - 1930 views

Jericho’s Nutty fans protest Nielsen’s Ratings System - 553 views

WEBINAR - Straight Talk About Treating Liver Tumors With Dr. Riad Salem - 299 views

Rasmuson Foundation Gallery opens in Second Life promoting Alaska artists - 276 views

Online Activist Steps into Politics - 268 views

New Stylish and Sexy Plus Size Dresses for Summer Fuels Hot Fashion Trend for Curvy Fashionistas - 235 views

IMConfuzed.com - Colleges and Careers 2.0 by Student Entrepreneurs from BITS Pilani - 232 views

LED Light Fixtures on Display at 2008 Lightfair International Las Vegas - 225 views

AIS Media Announces That Price of Email With Excerpo Mail Remains Steady At About A Penny An Email. - 217 views

Pentecost: The Opening Ceremony Of The Christian Olympics - 185 views



Previous News

Next News

Are you a Journalist?


For Businesses ...


Tutorial on Free Marketing




How to Write a Press Release| SiteMap| Contact PRLog| Privacy Policy| Terms of Use| Copyright Notice