To calculate the Consultant Rate (CNR):
CNR=CFT
Where:
The consultant rate is the amount a consultant charges per hour of work. It is calculated by dividing the total consultant fee by the total hours worked. This rate helps clients understand the cost of consulting services and allows consultants to price their services appropriately.
Let's assume the following values:
Using the formula:
CNR=200050=40 dollars/hour
The Consultant Rate is $40.00 per hour.
Let's assume the following values:
Using the formula:
CNR=150030=50 dollars/hour
The Consultant Rate is $50.00 per hour.