What is the compensation you can expect as a consultant?

New consultants often are faced with the uncertainty of the amount of compensation that they can expect as a consultant: not getting a standard paycheck at the end of the month does represent a significant shift in approach to work. The key advantage of being a consultant over an employee, from a compensation standpoint is that you can work for more than one client at a time, while as an employee it is not feasible (and probably illegal) to expect to deliver to more than one employer. The fact that you are working on multiple project deliverables in the same time could mean that you increase your earnings three of four fold.
For an employer to be willing to pay a premium for the services you render, you need to bring to the table something that he cannot find in-house: you deliver better than anyone else, or you deliver faster than anyone else, preferably both! For this purpose it would be wise to do a quick evaluation of the personnel or team who would otherwise handle the task assigned to you. Should you find that the capabilities do not exist in the company at all, it is a fair assumption that you may command a premium price.
Investigate the timeline norms that the company works with and you will get an idea of the kind of time frames that you should be committing to. There are task categories that can be accomplished by trial and error by individuals within the organization but it may not have the luxury of experimenting with approaches before arriving at the right one. That is where you step in; offering first-time-right solutions swifter than anyone else (even other consultants or service providers). This swiftness that you commit to will alone be sufficient to be able to charge a premium for services you offer.

Read More on:http://www.consultgenie.com/geniespeak/articles_detail.do?id=6685

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