Flat fee vs. hourly billing

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Permalink Reply by Elaine Bellucci on June 18, 2009 at 6:48pm

I like to offer a flat fee, it helps me keep my books straight, and it also allows my clients to budget my services. When I first started I would give an hourly rate and a "not to exceed" price, but it has since evolved into a flat fee which includes all I need to do to get their project completed. I don't charge for analysis, then reporting, then consulting, then (if needed) edits...I know some companies do, but my clients like that I can tell them a price up front and that covers everything. I tell them, "My fee includes my services as your statistics consultant until your project is completed" I don state the work in a contract, and for long range projects such as clinical trials I itemize it all in a proposal/contract. I have gotten pretty good over the years in computing the time a project will take. Sometimes that backfires and I end up putting in more time than I figured. Other times the project goes smoother and I end up saving time. It all evens out in the end.

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Permalink Reply by Kathy Campbell on June 19, 2009 at 12:49pm

I also offer a flat fee for most everything I do. Over the years, I've become very adept at knowing how much to charge for my services and how long it will take to complete a typical project. Of course, atypical research projects are a bit more challenging! The experience of knowing what fees the market will bear for the research you conduct is invaluable as well. It offers an advantage in a competitive bidding situation.

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