Expert Witness Billing Rates: What should I charge?

Inquiring (Expert) Minds Want to Know, Part One

Every day Round Table Group fields scores of requests from expert witnesses who are seeking answers to pressing business development questions. We have three Expert Witness Services staff members whose sole job is to provide answers to expert witnesses' questions. After several years of speaking with thousands of our colleagues, we have come up with the most frequently ask questions from our network of over 100,000 expert witnesses. Here is one of them.

"What should I charge for my services?"

I love this question, because it gets to the very heart of what makes experts different from everybody else. Experts aren't ordinary people; they are special; and that uniqueness creates a demand and a value for their knowledge and experiences. We have three answers to the question of billing rates.

First, ask an expert witness referral service. At Round Table Group we can check our extensive network of experts to anonymously survey what other expert witnesses with similar credentials are charging. This provides a real-time, industry-specific data point for your consideration.

Second, we urge you to check with your colleagues. This is a terrific, if somewhat more time consuming, source of information about expert witness referral rates. Doing this allows you to verify previous information, and also lets your colleagues know you are open to expert witness consulting opportunities.

Finally, ask yourself what your expertise is worth to you. Some experts, particularly those new to the expert witness business, keep their rates low to gain entry into the field. Others, long established or for whom expert witness consulting is a secondary venue, may opt for higher rates.

Next entry will focus on some specific areas of expertise, and their billing rates. Stay Tuned!

If you are new to the expert witness industry, or would like to learn more about industry rates, the Expert Services staff at Round Table Group stands ready to assist

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Expert Witness Billing Rates
Invoicing

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