The Cost of Consulting: The Economics, Pros, Cons & Associated Fees

Below is a graphic we’ve compiled in partnership with our friends at MBO Partners to detail the economics of becoming a consultant, including:

  • Costs of becoming a consultant
  • Setting your fees
  • Pros and cons of consulting versus a full-time job
  • The top consulting fields to get into

Take a look at the graphic and let us know what you think in the comments!

The economics of becoming a consultant: from Zintro.

Zintro has experts in every industry sector, across every job function, in every geographic region. Recently, some of the following topics have seen inquiry activity:

Comments

  1. Very interesting graphic, and one that all new consultants (and experienced) should really make reference to when starting, or revisiting their business plan.

  2. Hamid Tahiru says:

    Very informative, precise and interesting as well. I luv d innovative presentation.Thank you, Zintro.

  3. Gerald L. McDaniel says:

    Good visual representation of the space. Thanks for the insight.

  4. Great information it is relevant and relatable..love the graph!!

  5. Thanks, but after working for a huge, international engineering company, I’ll stick to consulting for the following reasons:

    • I was a full-time employee and still wasn’t guaranteed steady, regular pay because even though they hire based on salary, in actual fact, they pay their employees by the hour (billed out to Clients)
    • My Admin Assistant was an inexperienced, 22-year-old Millennial with no work ethic so this wasn’t a perk as I ended up doing all the admin work myself.
    • For what they took off my paycheques for benefits and health care, as a single person with no dependents and a $900+ deductible, I could easily have paid for my own benefits three times over.
    • As a consultant, I only own Mac products so never require Tech Support.
    • There were no other benefits.

    Being a consultant offers a way better trade-off than being a full-time pellet muncher in a cage — making someone else rich.

What do you think?