17th Edition Business Continuity Compensation Report – Worldwide for Independent Consultants
Our 17th Edition BCM Compensation Report for Independent Consultants highlights average hourly rates, in addition to average annual compensations. This report focuses on several factors that impact the earning potential for consultants, including experience, degree, certification, management and leadership expertise. In addition, this report assesses contract engagement terms (length of contract, billing terms and the type of consulting engagements serviced in the previous year). Our report consists of a worldwide assessment by region (Asia Pacific, Europe, and Northern America (predominantly Canada & the USA)).
The findings throughout the Firestorm Analytical Solutions 17th Edition Business Continuity Compensation Study highlight continued growth and prosperity for the Business Continuity/Resiliency profession.
- The data showed that independent consultants are being engaged on longer engagements (50% indicated 10+ months, an increase from 47% reported last year).
- Additionally, independent consultants are increasing their hourly low and high bill rates, even for the longer engagements.
- The data findings also highlighted that independent consultants take the time to develop their leadership skills in comparison to their counterparts who are permanently employed with organizations.
- Similar to the previous year’s study, gender data was collected to assist with current and future research trends. Study respondents were given the option not to disclose. In reviewing the data results, the biggest disparity in gender was in Europe where only 21% of the respondents were female. The women in Europe, however, were better aligned to the earning potential of their male counterparts as the study data reported that the men in Europe earn on average almost 7% more than their female counterparts.
- It is interesting to note that the data showed, on average, women billing higher hourly rates, as compared to their male counterparts; however, men on average reported a higher total annual compensation.
- The data findings highlighted that a majority of the respondents have been working as an independent consultant for less than 3 years (41%).
- Our data results also showed that 56% of independent consultants have obtained multiple certifications, with the trend being either 2, 3, or 6+ certifications. Many independent consultants with 6+ certifications have either obtained technology or program management related certifications or self-study certifications.
It is important to note that this report focuses on current earnings for independent consultants, which is highlighted as average total compensation and average hourly rates (low and high). Participants were also able to respond to the study as permanent employees (full-time and part-time) or currently unemployed, but their responses were not included within the data assessment used for this specific report. The data throughout this final report was collected between January 2019 to February 2019 and all compensations have been converted to the US dollar currency for alignment in reporting purposes.