Contact: Chris McManes
Marketing Communications/Public Relations Coordinator
Phone: +1 202 785 0017, x8356
E-mail: c.mcmanes@ieee.org

IEEE-USA Consultants’ Survey Reveals Median Incomes Between $75,000 and $120,000

WASHINGTON (10 January 2003) – Fourteen percent of independent consultants earn more than $200,000 a year, according to a recent survey of Alliance of IEEE Consultants’ Networks (AICN) members.

Of the more than 2000 technical professionals queried who work as consultants, 400 responded to the 2002 survey. When consultants who work more than 50 percent of their time as an employee or contractor were winnowed out, 333 independent consultants remained.

Of the independent consultants, the highest median annual incomes ($120,000) were reported by those with 1-10 and 11-20 years of technical experience. Those with 31-40 years experience reported a median income of $110,000, while those in the 21-30 year range made a median of $100,000. Those with more than 40 years experience had the lowest median ($75,000).

“We think our findings are the best ever gathered and reported for technical independent consultants’ fees,” said Bob Gauger, P.E., of Irvine, Calif., who summarized the results for IEEE-USA. “It was by far the largest number of respondents anyone ever had. We received 137 responses to our national survey in 1998, and the Professional and Technical Consultants Association received only 91 responses to their recent fee survey.”

Seven independent consultants reported income of at least $1 million. Annual earnings among all age groups ranged from $1,500 to $5 million.

Median hourly fees for all independent consultants ranged from $100 to $125. The minimum was $20 per hour; the maximum $2,000. About 24 percent reported difficulty collecting their fees.

The AICN, an IEEE-USA committee, conducted the survey to help its members gauge how much to charge a client. By knowing what other consultants in similar fields charge, one can establish a fair, yet competitive fee. To view the entire survey results, go to http://www.ieeeusa.org/business/2002feesurvey.pdf.

IEEE-USA supports the career interests of self-employed U.S. IEEE members in a variety of ways, most notably through the IEEE-USA Consultants Database. This premier online directory matches prospective clients with the world’s finest electrotechnology and information-technology professionals-for-hire. You can view the Consultants’ Services homepage at http://www.ieeeusa.org/business/aicn.menu.html.

IEEE-USA is an organizational unit of The Institute of Electrical and Electronics Engineers created in 1973 to promote the careers and public-policy interests of the more than 235,000 electrical, electronics, computer and software engineers who are U.S. members of the IEEE. The IEEE is the world's largest technical professional society. For more information, go to http://www.ieeeusa.org.
 

| Top of Page | News Releases | IEEE News | IEEE | IEEE-USA |

Last Updated:02 May, 2005
Staff Contact:  Chris McManes, c.mcmanes@ieee.org