Setting Your Consulting Rate? Is there a Right Way?

On Thursday, February 12, 2015, the IEEE Consultants’ Network of Northern NJ (, will present a panel discusion hosted by Network members..

About the Topic

Is There a Right Way to Set Your Rate?

The IEEE Consultants’ Network of Northern NJ will hold a discussion and workshop on setting fees for consulting services. Experienced members of the Northern NJ Consultants’ Network, with many years of consulting practice under their belts, will serve as panelists.

By popular demand, we are presenting this hot topic once again. The most prevalent dilemma among independent technology consultants, both novices and veteran consultants alike, is deciding how much to charge their next client for their services.

Putting a price tag on oneself can be a daunting and uncertain process: too high a price, and you lose a contract. Too low a price and you are giving up the money that you deserve.

During the workshop, consultants from the Northern NJ Consultants’ Network will discuss the various methods that they have used in their practices. Among the topics to be covered:

  • Data and Charts for range of prices charged by various specialties
  • Flat fee pricing vs. Time & Materials pricing
  • The Contract Engineer vs. the Expert Consultant
  • Street Smarts in Price Determination
  • Maximizing the Price and Profit
  • Negotiation Factor: To Haggle or Not to Haggle

About the Speaker(s)

Audience participation and questions will be welcomed. Panelists include:

Jim Boyd specializes in custom hardware and software design of PIC-microcontroller-based products for consumer and industrial applications. Since forming XL Research, Inc. in 1978, he has delivered real-time controller designs used in such products as cordless telephones, experimental solar homes, high-speed printing machinery, fire alarm systems and a multiple processor control system for a US prison. Jim can be reached at, (973) 584-0329.

Tom Russell is an independent consultant focused on the design of electronic and electromechanical devices using a variety of microcontrollers, including Microchip PIC, Texas Instruments MSP430, ARM Cortex M and Lattice FPGA, as well as Linux, Arduino and mbed platforms. Projects include a device to measure the pressure and flow of cerebrospinal fluid in patients with hydrocephalus, automotive fuel pump controller, railway communications meter, test sets for aircraft components. He is currently supporting the development of a novel photovoltaic module and tracking system for a start-up company. Tom can be contacted at

Robert Walker (RD Walker Engineering) has been offering analog and digital circuit design services since 1987. His expertise includes communication, sensing, conditioning and control equipment, utilizing discrete design as well as embedded controllers and FPGA’s. He specializes in communication systems and develops equipment for telemetry and power line teleprotection. He offers complete product development services, comprised of production assistance, product reviews and debugging, as well as hardware/firmware integration. Contact him at, 973-728-0344.

CNNNJ Invites You to Join the Network

Founded in 1992, the IEEE Consultants Network of Northern New Jersey (CNNNJ) encourages and promotes the use of independent technical consultants by business and industry. The CNNNJ invites all engineers engaged in independent practice to join its ranks. For more details on member benefits and admission requirements, please visit our website at


Thursday February 12, 2015 from 6:30 PM – 8:30 PM
Morris County Library, 30 East Hanover Avenue, Whippany, NJ

Contact Robert Walker at (973) 728-0344 or

Non-members welcome!