Setting Fees and Contracting for Coaching
Fees for Sub-contracting
· Firm which finds clients sets fees $150 - $250 p/hr in Midwest--$200 - $250 senior level
· Some big firms charge $6,000 for assessment battery which includes interviews can be $500 - $2,000 for assessments alone.
· Others charge $3,500 for instruments, 360 interviews and writeup
· One practitioner recommends battery from Prevue @ $250
Daily Rates for Consulting and Coaching
· Range $2,000 - $5,000 (independents) average seems to be $2,500
· Range $1,500 - $2,000 (subcontractors)
· Negotiate with the company ahead of time for 8 hour day; some negotiate 1.5X for a 12 hour day; should be specified ahead in contract
· Some companies want billing in form of total hours divided by per diem rate
Travel and Expenses
· Most bill T&E separately.
· Some bill at ½ day rate for travel others do not
Issues to Include in Contracts
· Outline for company appropriate use of data for decision-making
· Confidentiality of raw data, reports, etc.
· Scope of work—all fees for different types of work
· Terms and Conditions
§ Responsibilities of each party
§ Payment schedule (some ask for ½ fee upfront) to avoid extended payment (more common in slow economic times)
· Mutual indemnification statement can be helpful; consider liability issues if a company decides to use data for purposes not originally specified or intended, e.g., developmental assessments for placement
· Informed consent for assessment
· Most carry APAIT for professional liability insurance; must supply proof of insurance for subcontractors
· Some large companies also require general liability insurance
· N.B.—Does SIOP or APAIT have templates we can all use as a starting point?
· Big firms commonly take projects of $20 – 40K
· $12 – 16K typical for independents
· Some drop daily rates as the number of days of contracted work increases
· Some do assessment debriefs individually (more expensive) some find ways to do group interpretations. The latter have some advantages with certain instruments as participants build ideas off of one another
· Some have different prices depending on the size of the cohort receiving assessments and coaching
· Specified number of days a month—instruments at additional cost
· Client needs to ensure that the time is booked—give regular reminders of availability