Consultant Rates & Pricing
Consulting rates and pricing strategies for freelancers
Average Rates
Average Day Rate
£520
Average Hourly Rate
£69
These rates are based on UK market data and may vary based on experience, location, and project complexity.
Rate Calculator
Use our calculator to get personalized rate recommendations based on your experience, location, and target income.
Open Rate Calculator →Pricing Factors
Several factors influence consultant rates:
- Experience level and portfolio quality
- Project complexity and scope
- Client size and industry
- Geographic location (London vs. other UK regions)
- Specialization and niche expertise
Setting Your Rates
When setting your rates as a consultant, consider:
- Your target annual income and business expenses
- Market benchmarks for your experience level
- Your unique value proposition and specialization
- Client budget and project requirements
- Competitive positioning in your niche
Use our rate calculator to get personalized recommendations based on your specific situation, or review our comprehensive market benchmarks guide for detailed industry data.
Pricing Models
Consultants typically use these pricing models:
Day Rate
Most common for consultant work. Provides clear expectations and is easy to calculate. Average: £520/day.
Project-Based
Focuses on deliverables rather than time. Often more profitable as you benefit from efficiency. Better for well-defined scopes.
Hourly Rate
Useful for ongoing work, consultations, or when scope is unclear. Typically calculated as day rate ÷ 7.5 hours.
Retainer
Monthly fee for ongoing work. Provides revenue stability but typically includes 10-20% discount vs. day rates.
Frequently Asked Questions
What is the average day rate for a freelance consultant in the UK?
The average day rate for freelance consultants is £520 per day (£69/hour), making it one of the highest-paying freelance disciplines. Senior strategists with proven track records charge £1,200-£2,500/day.
How do consulting rates vary by engagement type?
Operational advisory for SMEs ranges £2,000-£6,000/month. Growth and marketing advisory commands £6,000-£15,000/month. Strategic transformation and board-level work ranges £12,000-£40,000/month.
What factors determine consultant pricing?
Key factors include industry expertise, track record of measurable results, client size, engagement type (project vs. retainer), and strategic value delivered. Board-level advisors command the highest premiums.
Should consultants charge day rates or retainers?
Retainers provide revenue predictability but typically include 10-20% discounts vs. day rates. Day rates work best for project-based work, while retainers suit ongoing advisory relationships.