Get notified about new articles - join the ExpertPages Mailing List now

Part 1: Average Fees Across Fields of Expertise

How much should you charge for your expert witnesses services? Should you vary your rate depending on the work? Should you charge a retainer, or use a fee agreement?

The ExpertPages Fee Survey, launched in mid-2006, provides ExpertPages members with real-world answers to these questions -- and more. Analysis of the results will span 3 articles, beginning with this one.

The initial survey queried a randomly selected portion of our expert list. The preliminary responses confidentially given by 170 of our members already provide great insight. If you have not answered the survey yet, please do so now (click here to take the survey) and enhance the survey’s accuracy for the benefit of all members. We also invite expert who are not members to join in the survey, and to share in the aggregated results.

You can quickly complete the survey Online and you need not give your name. The survey should only take 5 minutes to complete. We guarantee that your individual reply will be kept in complete confidentiality.

Overall Rates

Those responding charged an average of more than $290 an hour.

All the experts charge at least $100 an hour, and 77% charge more than $200 an hour. At the top of the scale, 2% charge $600 or more per hour.

Hourly rates are the way to go. No one reported using flat rates for their expert witness work.

Fields of Expertise and Rates

What are the most expensive fields of expertise?

Experts in the medical field charge the highest rates, an average of almost $370 an hour. All the experts charging $600 or more were in the Medical field. Financial savvy is also extremely valuable. 25% of the experts charging at least $500 an hour supply Business & Financial expertise.

Average Rates by Specialty:

Think you might be undercharging? Before raising your rates, considering the following average rates per hour according to field of expertise.

Effect of Experience on Rates

Rates generally increase with experience.

Those entering the field charge an average of about $215 per hour. Those with more than 20 years experience receive $305 an hour on average.

In between the newcomer and the veteran, rates do not vary that much. The average rate hovers between $270 and $290 an hour for those with 1-19 years experience. Oddly, rates tended to drop among those who have 6 to 9 years experience, compared to those with 1 to 5 years experience; perhaps an indication of the increasing demand for experts.

Experience and rates do not always correlate. About a quarter of those with 20 or more years of experience charge less than $200 an hour. At the other extreme, a few with five or less years of experience do very well, enjoying more than $500 an hour in fees.

Raising Rates

Experts have forged ahead with raising rates during the past two years. Almost 60% have raised their rates. A third of those responding have not only raised their rates but expect to raise them again. A third of those who did not raise their rates are considering a fee increase.

Structuring Your Rate

Should you consider charging differently for different kinds of work, such as charging more for a deposition or trial appearance and less for research? More than half the experts (55%) vary their rate depending on the type of work they perform. This will be covered in the next article, to be published next month in the ExpertPages newsletter. Use this form to subscribe now:

• Continue to the next article in the The ExpertPages 2006 Fee Survey series