Strategic Consulting Firm Rates
This initial research sprint is to get you the most important data first. Check out the Next Steps section for our plan of attack. As always, feel free to add comments or questions at the bottom.
Samples on hourly rates from five strategic consulting firms focusing on smaller firms (under 1000 people) who specialize in mobility / transportation, urban planning, and strategy projects related to civic projects are not available in the public domain. However, we found helpful findings focusing on planning consultant fees, consulting fees structures, and industry rates. Further details on logic can be found in the Research Strategy section.
- A sample from five strategic consulting firms on hourly rates for smaller firms (under 1000 people) who specialize in mobility / transportation, urban planning, and strategy projects related to civic projects is not publicly available.
- Therefore, we provided helpful findings focusing on planning consultant fees and consultant fee structures and industry rates.
- Please refer to the Research Strategy for additional information surrounding the research process.
Planning Consultant Fees
- Checkatrade.com identifies planning consultants as intermediaries between private entities, governments, and local authorities. These professionals play a crucial role in bridging communication and planning gaps across these sectors.
- The fee structure for planning consultants, as reported by Checkatrade.com, varies significantly. They typically charge a minimum of $164.62 per hour, with an average rate of $272.25 per hour, and can command up to $379.89 per hour.
- This range indicates the varying levels of expertise and demand for their services.
Consulting Fee Structures and Industry Rates
- Consulting Success conducted a study revealing diverse billing practices among consultants. Notably, 31.37% prefer project-based rates, while 23.38% opt for hourly billing, indicating a split in billing preferences based on project nature or client requirements.
- The study further highlights that 15.40% of consultants use monthly retainers, and 12.55% charge daily rates. This diversity in fee structures suggests that consultants tailor their billing methods to suit different client needs and project scopes.
- Consulting firms, including prominent ones like McKinsey, often keep their fee structures confidential, viewing them as competitive assets. McKinsey's rates, for example, range broadly from $300 to $800 per hour, with project minimums typically starting at $500K.
- The consulting market is largely comprised of self-employed or independent consultants. These individuals set their rates based on perceived value and market demand, often without a capped limit, especially in the private sector.
- Hourly rates for consultants are frequently based on their previous or current corporate salaries, plus a markup. This approach, as outlined by the SBA, involves calculating an hourly rate from a former salary and adjusting it upwards by 25-30% to stay competitive yet reasonable.
- Consulting Mavericks notes that hourly rates are common for short-term projects or when clients wish to maintain control over project scope and budget. However, consulting fees vary drastically across industries, making it challenging to establish a standard hourly rate.
- Industry-specific rates vary, with real estate consultants charging between $125 and $300 per hour, environmental consultants between $200 and $375 per hour, and energy/utility and third-party logistics consultants ranging from $100 to $300 per hour.
- In Australia, Olearia Town Planning charges $295 for advisory on housing and house extensions.
The research team has utilized the most advanced research methodologies, such as generative AI-powered search, industry and research databases, and advanced web search techniques to facilitate our research. We leveraged the most reputable sources of information that were available in the public domain, including Checkatrade, Mario Peshev, and Consulting Mavericks. After conducting an extensive search, we were unable to find information on strategic consulting firm hourly rates for smaller firms (under 1000 employees) specializing in mobility/transportation, urban planning, and strategy projects related to civic initiatives. Initially, we explored media and industry sites such as Financial Review, Brussel Times, and Open Democracy, anticipating they would provide the requested rates. However, these sources primarily focused on daily and monthly rates, which did not align with the request. Subsequently, we examined the websites of well-known large and medium-sized consultancies, including Deloitte, CityFi, and McKinsey, but failed to uncover the necessary information. These sites typically required clients to contact the company directly for fee details and predominantly disclosed only the hourly rates paid to employees. Our final effort involved scouring social media platforms of consultancy firms, such as LinkedIn, X, and YouTube, in search of hourly rate information for smaller firms with fewer than 1,000 employees. Unfortunately, the data found was not based on credible sources, often reflecting personal opinions. Consequently, we concluded that such information is not publicly available, likely due to the scarcity of studies on hourly rates and the tendency of consultancy firms to treat their fee structures as confidential competitive assets.
We used XE, a currency converter tool to convert the pound (£) and Australian Dollars to USD.
During the first three hours of research, we endeavored to find the hourly rates of five strategic consulting firms catering to smaller firms (under 1000 employees) specializing in mobility/transportation, urban planning, and strategy projects related to civic initiatives. However, our initial findings indicated that this information was not readily available. Consequently, we suggest proceeding with the research to compile a list of strategic consultancies that engage in urban/civic planning projects, along with the services they provide.
Please scroll down to view the research outline so that together, we can dive deeper.