Average Freelancing & Consulting Hourly Rates 2021

While Asian countries offer cheaper consultation rates, language, and cultural differences might hamper collaboration. Software consultants with skills honed through decades of experience will command a higher rate than those who recently took up consulting practices. Likewise, software experts specializing in niche and in-demand skills or tech stacks will likely charge more than their counterparts.

There’s a wide variety of consulting companies to choose from, and they all vary in rates. Consulting fees vary drastically by industry, and it would be impossible to list an average hourly rate for every industry. The table below lists the average consulting hourly rate by industry. Medium-sized IT management consulting firms work with companies of different sizes.

The Project-Based Formula For Setting Your Consulting Fees

Calculate your consulting retainer fee the same way you’d do your project rates—it’s essentially a comprehensive monthly project rather than smaller one-off assignments. Some consultants offer discounts for retainer fees as they’d http://giant-russia.ru/lenta-2.html prefer consistent income over hourly or per-project invoices. Small-sized IT firms usually charge about $175 per hour for IT consultation services. Nearshore or offshore IT firms charge approximately $25 to $75 per hour.

  • They can influence your decision-making, but your ultimate price point is entirely up to you.
  • There are several freelancers out there to choose from with different skills and experience.
  • IT consultancies provide a broad range of services to their clients.
  • In this must-read report, you’ll discover the pricing secrets of the industry’s top earners.
  • This step can be tricky for new consultants, so this is where industry averages come in handy.

If you are a brand new consultant, you may be charging closer to $50 per hour. One of the issues with hourly rates is that you don’t know how much you’ll pay in the end. The daily rate is just an hourly rate multiplied by the number of hours the consultant will spend working on the project. Typically, IT consultants work average between 12 and 14 hours a day and charge from $1,500 to $3000 and up. The project-based method is a strong pricing method for beginner and intermediate consultants. As you can see, the average hourly rate varies widely by industry.

Market rate

According to Glassdoor, Java consultants receive an average of $40 per hour ($79,137 per year), but according to ZipRecruiter, they are paid $62 per hour in the United States. Let’s use the example of hiring an offshore/onshore IT consultant. These individuals work on your project remotely, so you can choose who you work with more carefully. IT Consultancy is a great way to get expert advice on managing your IT systems.

consulting rates by industry