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Figuring Out Your Billing Rate as an Independent Consultant

Successful Independent Consulting

They don’t know to add a hefty margin to cover things like self-employment tax, business expenses, health insurance, and nonbillable time spent on business administration. Other tips: Benchmark your rate to increase your confidence. Or they haven’t raised their rates consistently over time, or they haven’t switched to a fixed fee.

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Building a Digital Technology Foundation in Insurance

BCG

Insurers today face a host of digital to-dos if they want to stay competitive—much less gain an advantage on their peers. It can also necessitate a fundamental overhaul of core insurance systems to digitize end-to-end customer journeys and automate decision making in basic functions such as underwriting and claims handling.

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Management Consulting versus Investment Banking

Management Consulted

This expertise may be as broad as “operations turnaround” and as specific as “benchmarking for insurance companies.” Note -firmsodeling” done in case work may not be directly comparable to the financial modeling more common at investment banks. ” Soft skills: 1) Client interaction (explained above).

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Quote Your Consulting Billing Rate with Confidence

Successful Independent Consulting

Benchmark so you know your rate is reasonable. Your rate has to cover operating expenses (internet, phone, bookkeeping), business insurance, and self-employment tax (the employer's half of Social Security and Medicare). The tactics in this article will help if you bill by the hour or by the day. There are lots of ways to do this.

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If Your Company Isn’t Good at Analytics, It’s Not Ready for AI

Harvard Business

With automated pricing engines, insurers and banks can roll out new offers as fast as online competitors. One traditional insurer, for instance, shifted from updating its quotes every several days to every 15 minutes by simply automating the processes that collect benchmark pricing data.

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Research: Workplace Injuries Are More Common When Companies Face Earnings Pressure

Harvard Business

companies are facing pressure to meet earnings expectations, and research indicates that meeting analyst forecasts is a more important benchmark than meeting the prior year’s earnings or avoiding losses. We identified three factors that characterized the companies that beat earnings benchmarks. per $100 of payroll.

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Should a CEO’s Bonus Be Based on Financial Performance Alone?

Harvard Business

.” In 2012 the Commonwealth Bank restructured its evaluation system so that 75% of CEO incentives came from the bank’s total shareholder return (TSR), relative to a set peer group, and 25% from customer-satisfaction results, benchmarked against another peer group.

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