Why We Built PriceWisely: Solving the $9,200 Consultant Pricing Problem
Here's a startling reality: 46% of independent consultants undercharge, leaving a median of $9,200 in annual revenue on the table.
This past winter, we partnered with the Escapee Collective to survey 103 seasoned professionals who've transitioned from corporate careers to independent consulting. What we discovered was both eye-opening and concerning.
Despite bringing impressive credentials—76% have 10+ years of professional experience and 61% held senior executive or C-suite roles—nearly half were systematically undercharging for their expertise.
The Hidden Cost of Flying Blind
The research revealed a troubling pattern: consultants with decades of corporate experience were pricing their services based on gut feel rather than market intelligence. One respondent captured it perfectly: "Better understood what others were charging" was cited as a key factor driving their rate increases.
Another admitted: "Previous rates were way too low - I was underselling myself. And I still am."
The math is sobering. Our analysis of 107 actual consulting projects showed that consultants could increase their rates by an average of $11 per hour—translating to over $9,200 in additional annual revenue for the typical consultant.
The Information Gap
While corporate employees can benchmark their salaries on Glassdoor or Levels.fyi, independent consultants operate in a data vacuum. The survey revealed that market intelligence was one of the top drivers of successful rate increases, yet most consultants lack access to reliable pricing data.
Even more revealing: we found no correlation between past W-2 salary and current consulting rates. Your corporate compensation has nothing to do with your consulting value—but without market data, most consultants anchor to what they used to earn rather than what their expertise is actually worth.
Introducing PriceWisely
That's exactly why we built PriceWisely—an AI-driven consulting rate recommendation engine designed specifically for independent and fractional consultants.
Our mission is simple: help independent consultants make more money by giving them the confidence to charge what they're actually worth.
Our research also revealed that project-based consultants earn an average of $370 per hour equivalent—significantly higher than traditional hourly arrangements. Freewheel's AI engine analyzes our proprietary project database alongside your own experience to deliver personalized rate recommendations and optimal pricing structures.
We Need Your Help (And We'll Make It Worth Your While)
We've just launched our MVP, and since you showed interest in our pricing research, we'd love your help evaluating what we've built so far.
Here's how it works:
Visit PriceWisely.me
Request a rate recommendation
Complete our short feedback survey
As a thank you, we'll enter you in a drawing for a $50 Amazon gift card.
But here's the real value: you'll get personalized pricing recommendations based on real market data—insights that could easily add $9,200+ to your annual revenue.
What's Coming Next
Over the coming weeks, we'll be sharing the specific pricing strategies and psychological insights that separate six-figure consultants from the rest. From overcoming the confidence barriers that keep 67% of newer consultants undercharging to mastering the transition from hourly to high-value project pricing, we'll cover the proven approaches our research revealed.
Because when you price with confidence and market intelligence, everything changes—your clients respect you more, your projects become more profitable, and your consulting practice transforms from survival mode to strategic growth.
Ready to stop leaving money on the table? Try PriceWisely today.
Questions about pricing or PriceWisely? We love talking shop with fellow consultants—reach out anytime.