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Per diem paradigm starting to fracture June 8, 2009

Posted by fetzthechemist in Uncategorized.
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As a consultant, my rates have always been flexible. I actually use three scales that are moderately different, career-development coach, technical consulting, and expert witnessing. I have thought these ought to be different from each other, yet not greatly so.

Of late, however, I am thinking that the expert-witness world in inherently different. As part of many legal proceedings, the rates experts for one side charge is made known the other side. So far, I find that I am charging the least on either side. This does not reflect experience or technical capabilities that might made a difference in the level of witness someone might be. It just seems that the numbers I based my legal rate on were rates that are low or outdated.

It is no small matter when others’ rates are two or three or more times larger. Those numbers add up to huge amounts of lost income. So I think I shall adjust my rates higher at the end of this month and not hold them static for years. I need to at least be in the range of the mean of the numbers I hear of.

This is surprising in one way because my current rate of $200 per hour is not cheap by most standards, but it is on this one scale.A 25 % increase, the first one in five years, will help realign things some.

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