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Renee Maler
Philosophy PR + Marketing
for Women in Consulting
925.968.9495
renee@philosophypr.com

FOR IMMEDIATE RELEASE

Women in Consulting Compensation Survey Demonstrates Increasing

Value of SF Bay Area Consulting Market

Average 2007 consultant revenues of $198,000 up 90% since 2002

San Mateo, CA – July 23, 2007– Women in Consulting (WIC), a San Francisco Bay Area professional organization of seasoned consultants, today announced results from its latest annual compensation survey, indicating a continued increase in business opportunity and demand for skilled Bay Area consultants.

“The number of respondents was roughly the same as last year, yet the number of participants with earnings over $1M increased,” noted Karilee Wirthlin, president of WIC. “The range of consultants participating in the survey and joining WIC is expanding, broadening our understanding of the field and increasing our access to industry best practices.”

Responses from 125 women consultants, of which 45% were WIC members, show that:

• 71% saw an increase in revenue over the previous year
• 71% expect revenue to increase in the next year
• Average total revenue has increased steadily since the first survey – from $104,000 in 2002 to $198,000 in 2007; the average increase for the past year was 31%
• The top 20% now earn more than $225,000 per year
• 84% charge by the hour for at least some of their work; 70% charge per project for at least some jobs; and 36% charge retainer fees
  

The demographic profile of these independent consultants points to a highly experienced and savvy group:

• 45% have been in their respective industries for 10 – 20 years, and another 44% for more than 20 years
• 30% have been consulting for 7 – 10 years, and another 28% for more than 10 years
• 67% are sole proprietors; the other 33% have formal corporations or partnerships
• 69% are in various stages of growth or sustaining and refining well-established practices, while only 3% are in launch mode
• 44% have a bachelor’s degree, and 48% have a master’s degree
• Expertise spans multiple disciplines, with 54% providing marketing consulting

“More and more consultants are employing the virtual team model,” says Wirthlin, “as evidenced by the best practices of WIC Leaders Network and other top earners.”

• 83% of the top-tier group use subcontractors, versus only 63% of the overall sample
• 80% of those using subcontractors use between 3 and 6 subcontractors, indicating greater business volume and use of a virtual team model
• Consultants using subcontractors make more money than those who don’t, even after paying the subcontractors [an average of $231,000 vs. $142,000]
  

The WIC survey also delved into pricing models and how and when consultants choose between hourly, per-project, retainer, and value-based pricing. “Roughly 75% of our members let the clients drive the pricing model,” explains Wirthlin. “As consultants, however, we’re doing our clients a disservice by not taking a more active role in this decision. Our insight enables us to choose pricing models that work best for both us and our clients.”

Detailed findings from the compensation survey are made available exclusively to WIC members.

About WIC
Women in Consulting is a dynamic organization of over 500 members and affiliates who are seasoned professional consultants in more than 30 specialties, ranging from engineering to financial advising and marketing. Our mission is to create a community of consultants who work together to build strong businesses through networking and skills development. A nonprofit corporation, WIC was established in 1998 as a collaborative community to foster successful consulting practices for its members. For more information, visit www.womeninconsulting.org.