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IT-Consulting fees

 
#1 IT-Consulting fees
19/07/2007 10:47

Patrick

Hi guys, I'm reviewing my rates for my software IT-Consulting/ Software engineering practice at the moment and I am looking at different pricing models. This has led to a few questions about daily rates.

Please could you share with me your knowledge of the typical rates charged by other IT- Consultant /Software Engineering firms

I'll share mine:

12 yrs - Managing IT Consultant/ Software Architect - 1050

10 yrs - Senior IT Consultant/ Software Architect - 950

8 yrs - Senior IT Consultant / Software Architect - 900

5 yrs - Senior IT Consultant / Software Architect -750

min 5 yrs - Senior IT Consulltant/ Software Engineer - 750

less 5 yrs - IT Consultant / Software Engineer - 630

1-3 yrs - IT Consultant /Tester 600

1 yr- Junior Consultant - 500

Any tips you might want to share regarding pricing of work would be very much appreciated. Thanks!

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#2 RE: IT-Consulting fees
03/08/2007 12:55

Professional Pricer to Patrick (#1)

Don't price by the hour/day. Don't disclose rates to clients or the competition.

Value price based on outputs. see www.verasage.com

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#3 RE: IT-Consulting fees
08/08/2007 22:17

Svennis to Patrick (#1)

Remember to factor in how much you want to win the work, for future work and not just for the single piece. Even so far as to take a loss on the initial "in" to develop a lasting relationship.

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#4 RE: IT-Consulting fees
09/08/2007 08:51

Village Idiot to Svennis (#3)

Still, you need to be careful about compromising too much on fee rates. Much better to give away a 'free' diagnostic and charge your normal fee rates than to discount your fees by (eg, 25%) to win the initial work -- it sets precedent and may come back to bite you when you price future work.

If you can demonstrate the value of your work, your fees become immaterial. If you're fighting over £100 a day, you're not demonstrating the value that your unique proposition brings. Tough, in IT consulting, not to appear a body-shop, but if you can focus on the extra value that your organisation can bring (quality? clear understanding of business requirements? track record of delivery?) over and above the competition, you can command a premium for your services.

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#5 RE: IT-Consulting fees
09/08/2007 09:17

anon to Village Idiot (#4)

Svennis, with all respect I think that taking a hit or giving a discount in order to win work which may lead to more work is a bad idea. Sometimes you have to, but in my experience, the clients who dangle the carrot of potential future assignments are more often than not just trying to get you to give them the lowest price possible with no intention of getting into a long-term relationship. Reward loyalty, not carrot-danglers!!

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#6 RE: IT-Consulting fees
09/08/2007 13:41

anon to Professional Pricer (#2)

"Don't price by the hour/day. Don't disclose rates to clients or the competition"

How do you bid for T&M work if you don't reveal your rates?

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#7 RE: IT-Consulting fees
09/08/2007 20:32

Professional Pricer to anon (#6)

Don't bid for T&M work. You're in consultancy, not a temping agency.

Clients want fixed prices anyway.

Seriously, take a look at www.verasage.com Its all about pricing professional services

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