Consultant Salary – How much should you be making?

Calculate your consultant salary. This is the time of the year when people often negotiate their salaries. Meanwhile, consultant companies’ hire at a faster rate than ever before. Many people start working as consultants for the first time, while some people see it as an opportune time to jump ship to a new consultant company. The question still remains: what can you expect to be making as a consultant?

For a consulting company, deciding on a salary for a consultant is in essence an easy thing, and can be summarized using three criteria:

How much can we charge for your work?

If you have a great resume with a specialised niche, little competition, and your skills are in high demand, the prices for your services can soar.

How marketable are you as a consultant?

If you have a clear niche, the right experience, and interview well you are in a great position. If you can get hired to key roles there is great potential for extended contracts and the risk of hiring is reduced.

How much do you engage yourself in the consultant company apart from the assignment?

If you make the consultant company’s brand stronger by hosting training sessions or other activities you can easily add to your salary. Another thing you can do is dedicating time to the consultant group to increase teamwork or bringing in new recruits and assignments.

When you set your rate you should keep all the above three factors in mind. However, the easiest thing to do is figuring out the price the consultant company can charge (something they have a lot of data on) and then calculate how much you should earn backwards. Like this;