The sharing economy is transforming professional engagement, with Gen Y, Gen Z, and skilled business professionals embracing freelancing. Find how the freelance economy is growing in fee benchmarks
Key Findings
Independent consultants and business freelancers achieve the highest growth rate in compensation as they move from Explorer to Performer phase.
Although men and women command similar compensation levels till the Performer phase, women consultants in the Leader phase earn 30% less as compared to men in the same experience range.
Representation of women professionals falls drastically in the Master phase to a meagre 10% of all consultants. However, they command 40% higher professional fees as compared to men.
As compared to short-duration (less than 6 months) projects, longer commitment assignments (more than 6 months) command higher daily fee levels, irrespective of career stage.
For projects spanning over 6 months, organisations prefer to engage experienced professionals. Seasoned professionals however, seem to be equally comfortable with projects of all duration.
Finance, General Management, Strategy, Human Resources and Sales are the most remunerative skills at the Master phase.
Strategy, Marketing, HR and IT are the top 4 ‘in demand’ business management skills sought by companies on a ‘plug & play’ basis to get critical projects and priorities delivered.
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