Summary

 

Creative Solutions

• 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.

Helpful Findings

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.

 

Research Strategy

Next Steps