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Posted By paul miles
I have been asked to do some private consultancy work and have been asked to provide a"quote"for the work to be undertaken,can anyone give me an idea of what to charge as regards individual risk assessments ,policy writing,consultation and report writing?
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Posted By Adrian Watson
Paul,
There is no set answer. To calculate an hourly rate:-
1. Add up ALL your costs, including rent for a room if applicable.
2. Divide by no of hours after first subtracting time for holidays and essential non-billable time.
Alternative method (rule of thumb); Multiply desired salary by 3 divide by 1720 to give hourly rate.
There are other methods. See books on management accounting. Hope this helps. Regards & best of luck,
Adrian.
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Posted By Martyn Hendrie
Paul,
There is a similar thread in the Careers Forum posted by "Gill S" entitled "Health and Safety Consultancy - fees - any ideas" that may be of interest.
(Currently on page 2)
Regards
Martyn
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Posted By Richard
When I was asked to do some work for my local golf club I did it for nothing (No, I'm not a member - I don't even play golf!). Conversely, I was an independent trainer for a national company who paid me £300 a day plus expenses.
There are just too many variables
Richard
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Posted By peter gotch
Paul,
Have you thought about taking out Professional Indemnity Insurance?
Note that rates for PII have risen extremely sharply, as have excesses, as response to the growth in claims.
Peter
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Posted By Liz Ferrier
There are similar discussions on the careers forum section. I found the thoughts there most helpful in supporting the rates that I charge
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Posted By Jeff Manion
Very difficult -price varies from per cent of organisation turnover to hourly rates of £95
(We did not charge this (unfortunately)).
PI cover is high priority suggest you took to IOSh except there recommended broker would not cover.
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Posted By Charles New
One important thing to remember is that PI insurance only gives cover for the year in which a claim is made against the insured. Not the year in which the advice was given, unless the claim is made in the same year as the advice. It is therefore prudant to maintain cover for some time after any advisory service is ceased. Your pricing should take into account this ongoing cost.
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Posted By Geoff Burt
Good point Charles. I read somewhere you can pay a lump sum at the end of your career to cover that eventuality.
Geoff
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Posted By Nigel Singleton BSc
Don't beat about the bush ladies and gents!!!
Somewhere between £250-£450 a day for a private individual, depending on the amount of write up and research work you need to put into it after the event.
PI starts from £250 per annum see SHP for details.
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Posted By Arran Linton - Smith
A few days consultancy work may initially sound attractive, especially at the fees which have been quoted here, however the PI insurance (if you can obtain it) and five years run-off insurance, it could cost you at least £1,500 (at today’s rates).
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