proSapient Review

Have you been contacted by an associate from ProSapient offering a paid consultation opportunity? Are you unsure what this opportunity is, or if it’s even legitimate? Learn what to expect if you work with this rapidly growing expert network in our comprehensive proSapient review.

What is proSapient?

proSapient logo

ProSapient is an expert network, which are recruiting firms that specialize in custom sourcing subject matter experts (SMB) for short-term consulting projects. Expert networks are a rapidly $1.5 billion industry that cater to institutional investors (management consulting firms, private equity, hedge funds, mutual funds, etc.) doing market research or performing due diligence on a company or subset of companies in preparation for an investment. Expert networks are a great way to capitalize on your industry experience, even after you leave! Expert network opportunities generally take the form of a 1-hour phone consultation between the subject matter expert and the client.

ProSapient is one of several up-and-coming expert networks that are capitalizing on new technologies such as machine learning, artificial intelligence, and robotic process automation. London-based proSapient offers the typical product mix such as surveys, and 1:1 expert consultations, but also offers a multi-vendor platform for clients in it’s bid to be a software-as-a-service (SaaS) for expert networks. ProSapient recently raised $10M in Series A funding after achieving 100% year-over-year revenue growth. It plans to use the funds for a larger expansion into the United States as it seeks to offer a more technology-driven approach than industry stalwarts GLG, Guidepoint and AlphaSights.

Is proSapient legitimate — or a scam?

ProSapient is a legitimate, newer company in the large but secretive expert network industry — it is not a scam. 

proSapient reviews

However, it’s noteworthy to mention that in the process of researching this article, I found a more than a few complaints from experts about the payment timing (or not being paid at all!). It appears the company has not addressed these complaints (at least on the forums where they appear) leaving experts feeling as if they were scammed.

While these complaints do not mean the opportunity is a scam, it does indicate that the firm may have some chronic operational issues that could delay your payment, or need to chase the associate who contacted you. These payment issues are likely to be growing pains, but it will be interesting to see if they start to respond to these public complaints, or if these complaints will continue.

What to expect if you consult with proSapient

ProSapient associates are tasked with sourcing experts for client projects, so if they reach out to via LinkedIn or email, they’ve already identified you as someone who may be a good fit. Why? It’s likely that you are a senior level industry professional with experience with a company, product, or industry their client is looking to learn more about. Here’s a breakdown of the basic eligibility criteria for project participation:

  • You are at least 6 months and no more than 3 years out of a job where you were a senior executive (Director level or higher) at a company their client is trying to learn more about.
  • You currently (or formerly) work for a competitor of a company the client is looking to learn more about.
  • You currently or formerly were a customer of a product or company the client is looking to learn more about.

Now that you’ve been identified, the associate will want you to register for their site and participate in a short vetting call to make sure you’re a fit before proposing your profile to the client for review. The vetting call will consist of some pretty general questions in order to judge your knowledge and confidence level in discussing various topics of interest to the client. This vetting process does not take the place of the client call and you can keep your answers high-level.

During the vetting process, you’ll be asked to provide a list of convenient times when you could participate in a client call, generally over the next week or two. Providing as flexible a schedule as you reasonably can will greatly increase. your chances of being assigned to the project. If the client does choose you for the project, you’ll generally receive a calendar invitation for the client call within a day or two of the vetting conversation.

Even if you don’t get chosen for this project, by completing their compliance procedure, you will be registered in their system and likely vetted for future projects, as networks tend to source in-network before custom sourcing for out-of-network experts. Most expert network consultants only land about 1 out of 3 or 4 projects that they apply for, so don’t get discouraged if you aren’t selected for the first few that you respond to.

ProSapient Consulting Rates

How much should I ask for? How much can I ask for?

You may have read articles online about how some experts make thousands of dollars a call. While that is true, the higher you price yourself, the more likely you are going to get priced out of a client interaction. The experts who can charge $1500 a call are usually very high-profile professionals with very recent experience in a niche industry.

In general, if you have been contacted for participation in a 1-hour 1:1 phone or video consult, you can expect to be offered a $100 – $200 if you are a Director level or below, or $200 – $350 for above a Director level. While you can absolutely negotiate your rate (or set the stage by letting the associate know your price floor), if you ask for a proSapient consulting rate above $500 per hour, you risk your profile not being seen by the client, or a client balking at your rate and going with a cheaper expert. You can always renegotiate your rate for subsequent projects you are contacted for, especially if you find that you are getting inundated by project participation requests.

The rate you actually receive for participation in a client call will be determined by the amount of time both you and the client are in the call. It’s in your best interest to keep the conversation going (with more insights, tidbits, analysis, or small talk), as an extra 10-15 minutes can bump up your rate, but conversely, any call that is more than 5 minutes under the 1 hour mark can be penalized with less pay.

How to ace your proSapient consulting call

Most client calls are centered on a particular company, industry, or product. The client is not expecting you to prepare a presentation or deliverable for the call; they are looking to rapidly download industry knowledge via your many years of experience. You can expect that clients have done their own basic research, reviewed publicly available information, and perhaps heard a management presentation. They have come prepared with specific questions to confirm or clarify aspects of the business. You can see some examples of expert consultation use cases on their website.

If the call is centered on a particular company, the client will want to know how the target company compares to its’ competitors, product and feature differentiation, pricing strategy, quality of management, etc. These types of calls will often resolve around your former employer or a major vendor that you worked with frequently, with emphasis on the key factors influencing your decisions.

Alternatively, if the call will be centered on a particular issue or problem they have been tasked to solve. The client may be looking to develop a marketing strategy, solve chronic operational issues, or restructure an organization. These types of calls will often center your approach to an issue, your impressions of various products, factors that influence budget and purchase decisions, or to provide feedback on potential new products or solutions.

You should have an easy time answering the questions during the call- after all, the client wants to learn about an area via your experience. Even so, you may not have all the answers, or know figures off the top of your heads. You can always be honest and say you don’t know, and you should never make up answers. Clients often have multiple calls on the same subject and if it becomes apparent that you lied, you may be blacklisted.

It’s important to note that you will never be asked to share non-public or proprietary information during a client call, and doing so would be illegal. One of the key responsibilities of expert networks is to ensure that improper information isn’t exchanged on a client call, with both parties bound by strict compliance standards (which you will receive prior to the call). You should know that ProSapient records all of their calls and makes the transcripts available to clients, and available to review. 

What’s Next?

ProSpaient offers payment via PayPal or ACH direct deposit, and you can expect payment within 45 days of the completion of the call.

Now that you’re a part of the network, you will periodically be contacted for participation in new projects, especially as you build a history of completing successful client calls.

Expert networks are a great way to capitalize on your experience. If you haven’t been contacted by an associate from ProSapient, you can still register to be added to their network by contacting them here.

NewtonX Review

Has a NewtonX associate reached out to you via LinkedIn, email, or phone to invite you to fill out a survey or participate in a client call? Are you not sure if it’s a legitimate opportunity— or a scam? Our NewtonX review shares what to expect, how to set your rate and land consulting opportunities with this rapidly growing expert network

What is NewtonX?

NewtonX is an expert network, a recruiting firm that specializes in custom sourcing subject matter experts for short-term consulting projects. Expert networks are a $1.5 billion industry that cater to institutional investors (management consulting firms, private equity, hedge funds, mutual funds, etc.) doing market research or performing due diligence on a company or subset of companies in preparation for an investment. Expert network opportunities generally take the form of a 1-hour phone consultation between the subject matter expert and the client. Expert networks are a great way to capitalize on your industry experience, even after you leave!

NewtonX, founded in 2016 by two former McKinsey consultants who realized an opening in the market, leverages AI and machine learning to quickly engage high volumes of experts. Dubbed a “knowledge access platform”, the firm’s custom sourcing is powered by its’ AI-enabled NewtonX Graph, which is supposed to be faster and less manual than the traditional expert network method. Additionally, the firm’s bread-and-butter service is the survey, which allows it to collect information from a high volume pool more quickly and cheaply than its’ competitors. Newton X also offers a full suite of services, such as 1:1 consults, long-form projects, and online communities. 

NewtonX has raised $15 million in venture capital investment, including a $12 million round led by Two Sigma Ventures in 2019.

NewtonX Paid Surveys

When NewtonX reaches out to prospective consultants, there are two types of engagements which they may want you to participate in:

  1. A short web-based paid survey on their platform, generating a fee from anywhere between $20 and $200.
  2. A traditional 1 hour, 1:1 phone or video consult with a client on a subject of your expertise. 

NewtonX is one of the more prolific facilitators of paid surveys amongst expert networks. Surveys are generally focused on business topics, especially trends in purchasing/budget allocation or how you view a set of competing products or companies.

The survey could be multiple choice, ranked choice, or short-form, but it is likely to take no more than 10 – 15 minutes of your time. The survey will double as registration in the firm’s network of experts. 

At the conclusion of the survey, the system will ask for you to input your payment information. You can expect payment to be initiated within 24 hours of survey competition, so it should land in your bank account within 5 business days. Alternatively, a check could take longer. The firm also offers PayPal as a payment option. 

Like most expert networks, the initial questions in the survey serve as a screen to ensure that you meet the client’s criteria and you will not be presented with the full survey nor be paid for your participation you don’t meet selection criteria. For example, if the quota of experts of your type (firm size, industry, title, currents/formers, etc.) has already been fulfilled, you will go through the survey and then be notified that you do not fit the criteria, and will not be led to a page to collect payment information.

Consulting with NewtonX

NewtonX also facilitates one-hour consulting calls – the bread and butter of most expert networks. The associate who reached out to you will want to vet your eligibility for a 1-hour phone consult with a client on a subject you appear to have expertise. Here’s a breakdown of the basic eligibility criteria for project participation:

  • You are at least 6 months and no more than 3 years removed from a job where you were a senior executive (Director level or higher) at a company their client is trying to learn more about.
  • You currently (or formerly) work for a competitor of a company the client is looking to learn more about.
  • You currently or formerly were a customer of a product or company the client is looking to learn more about.

The associate will want to ascertain whether you are a good fit for the project — I.e., ready and willing to discuss the topics of interest to the client. This vetting process takes just a few minutes and does not take the place of the client call and you can keep your answers high-level.

The client will receive several profiles for review and will only choose the profiles that are the best fit. You can usually guess whether you are a good fit for the project based on how easily you can answer the questions and how recent your relevant work experience is. If you’re selected for the project, the NewtonX associate will facilitate a convenient time for your client call, usually within just a few days of your introduction to the project.

Even if you don’t get chosen for this project, by completing their compliance procedure, you will be registered in their system and likely vetted for future projects.

Is NewtonX Legit (and is This Legal)?

If you are successfully vetted for either of the aforementioned engagements, you can expect to be presented with a compliance document. Generally, the document is standardized and will forbid the exchanging proprietary information, and protected the confidentiality of yourself and the client. The document should be very clear and an associate would be happy to answer any questions or address any concerns. 

That being said, it is up to you to know what you can and cannot reveal. It is up to you understand what other documents you may have signed could conflict with the compliance document, as well as any company policies preventing you from participating.

In general, clients are most at risk for breaches of compliance (see our previous article on an insider trading scheme that almost took down the industry!) and will never ask you to provide non-public information. NewtonX will provide you with guidelines on what you can and can’t share with clients, and instruct you to not answer any questions where you unsure if it is ok to answer.

NewtonX Consulting Rates

If you have been contacted for participation in a survey, there will be no mechanism to negotiate your rate. You will be made an offer based on your title, experience, and project-specific factors. Reviews of NewtonX’s surveys reveal compensation rates to range between $20 – $200; $40 – $75 for a 10 – 15 minute survey is typical.

If you have been contacted for participation in a 1-hour 1:1 phone or video consult, you can expect to be offered $100 – $200 if you are a Director level or below, or $200 – $350 for above a Director level. While you can absolutely negotiate your rate, if you ask for anything above $500, you risk your profile not being seen by the client, or a client balking at your rate and going with a cheaper expert. You can always renegotiate your rate for subsequent projects you are contacted for, especially if you find that you are getting inundated by project participation requests.

The rate you actually receive for participation in a client call will be determined by the amount of time both you and the client are in the call. It’s in your best interest to keep the conversation going, as an extra 10 – 15 minutes can bump up your rate, but conversely, any call that is more than 5 minutes under the 1 hour mark will be penalized with less pay.

Acing your NewtonX Consulting Call

Once you’ve been vetted and accepted an offer, your profile will be shared with the client. If the client selected your profile for a conversation, you’ll be scheduled for the phone consult based on the availability you gave the associate.

The client call should not be difficult, as the answers should come naturally to you, based on your years of experience of working in your particular industry. The client is not expecting a deliverable of any sort, however, it may be helpful to have some relevant figures handy. The vetting questions the associate walked through with you should clue you in on the topics of conversation be covered in the client call.The types of clients you will encounter will be institutional investors (consulting firms, private equity, hedge funds, mutual funds, venture capital firms, etc.).

The client has done extensive research beforehand and it should make for an interesting conversation. The conversation will centered on a target company’s positioning, go-to-market strategy, business model, key challenges and opportunities, and the competitive landscape. The client is looking to rapidly download your knowledge in order to confirm or complicate their due diligence on a company, industry, or product of interest. 

If the client asks a question and you don’t know the answer, be honest. Otherwise you will be wasting time for both you. 

What’s Next?

After the call, your payment information will be collected, and you can expect payment within 14 days via ACH direct deposit (or longer if you chose the check option).

Now that you’re part of the NewtonX network, don’t be surprised if you are contacted for many more projects. Expert networks are a great way to capitalize on your industry experience by offering insights to institutional investors.

If you haven’t already been contacted by NewtonX about a project, you can learn more about becoming an expert consultant with NewtonX, or reach out an an associate to get started by emailing [email protected]. Be sure to mention what you’ve learned in our NewtonX review!

Ridgetop Research Review

Have you received a reach-out on LinkedIn or an out-of-the-blue phone call from an associate at Ridgetop Research, asking if you have an hour available for a paid consulting opportunity with a client? Are you wondering if it’s a legitimate opportunity— or a scam? Get introduced to the secretive world of expert network consulting and learn how to land high-paying projects in our Ridgetop Research review.

What is Ridgetop Research?

Ridgetop Research logo

Ridgetop Research is an expert network, a recruiting firm that specializes in custom sourcing subject matter experts for short-term consulting projects. Expert networks are a $1.5 billion industry that cater to institutional investors (management consulting firms, private equity, hedge funds, mutual funds, etc.) doing market research or performing due diligence on a company or subset of companies in preparation for an investment. Expert network opportunities generally take the form of a 1-hour phone consultation between the subject matter expert and the client. Expert networks are a great way to capitalize on your industry experience, even after you leave!

Ridgetop is a mid-sized expert network with offices in Charlotte, North Carolina and New York, New York. The firm was founded in 2008 by former employees of Vista Research, an early pioneer in the industry that was taken down by an insider trading scandal in 2007. Ridgetop offers a range of services, from custom recruiting of industry professionals (just like other expert networks!), as well as survey fieldwork and paneling. The firm mostly caters to institutional investors such as private equity, mutual funds, and venture capital firms. Ridgetop also contracts with Cordium to provide “chaperone” services to clients to ensure calls are consistent with their compliance framework.

Qualifying for Ridgetop Research Consulting Calls

Your relationship with Ridgetop Research often starts with a LinkedIn message.

If you’ve been contacted by an associate from Ridgetop Research, it’s likely that you are a senior level industry professional with experience with a company, product, or industry their client is looking to learn more about. Here’s a breakdown of the basic eligibility criteria for project participation:

  • You are at least 6 months and no more than 3 years out of a job where you were a senior executive (Director level or higher) at a company their client is trying to learn more about.
  • You currently (or formerly) work for a competitor of a company the client is looking to learn more about.
  • You currently or formerly were a customer of a product or company the client is looking to learn more about.

The associate will invite you to register on the online platform, where you will run through a few vetting questions in order to ascertain whether you are a good fit for the project — I.e., ready and willing to discuss the topics of interest to the client. This vetting process does not take the place of the client call and you can keep your answers high-level.

The client will receive several profiles from Ridgetop Research for review and will only choose the profiles that are the best fit. You can usually guess whether you are a good fit for the project based on how easily you can answer the questions and how recent your relevant work experience is. You’ll usually find out if you’ve been selected for a project within a few days. Oftentimes, the associate will ask for your availability during the screening call and send you a calendar invite for your client call.

Even if you don’t get chosen for this project, by completing their compliance procedure, you will be registered in their system and likely vetted for future projects.

Ridgetop Review Consulting Rates

Expert network consulting rates vary widely and are determined by a variety of factors, such as the seniority and how recent your relevant title is, how niche the industry is, and demand for your insight. In general, you can expect to be offered $100 – $200 if you are a Director level or below, or $200 – $500 or more for experienced executives.

While these rates are pretty standard, you should know that you can renegotiate your rate if you find you are getting inundated by project participation requests. Many C-suites and other high executives who have a history of successful calls command rates of $500. Some experts make $1,000-$1,500 a call, but you should know that it is not common and demanding a super high rate right away will likely mean your profile will never be sent to the client. That being said, feel free to negotiate a rate that is commiserate for your time and energy to participate fully.

It’s important to keep in mind that your rate will be pro-rated based on the amount of time you are in the call with the client, so it’s in your best interest to keep the conversation flowing freely. An extra 10 – 15 minutes can bump up your rate, but conversely, any call that is more than 5 minutes under the 1 hour mark will be paid accordingly, so you should try to at least make it to the hour.

Acing Your Ridgetop Research Consulting Call

Once you’ve been vetted, negotiate a rate, are selected by the client, and provide your availability, you’ll be scheduled for the phone consult

You should not feel the need to overly prepare for the call. The client is not expecting a deliverable or a presentation. The format is highly conversational, and you should be able to answer the questions easily based on your years of experience in your industry. The client is looking to rapidly download your knowledge in order to confirm or complicate their due diligence on a company, industry, or product of interest. The client has done extensive research beforehand and it should make for an interesting conversation.

The types of clients you will encounter are will be institutional investors (at Ridgetop, that will be private equity, mutual funds, and venture capital firms) and are bound by strict compliance policies that prevent them from soliciting proprietary information. This policy should also be laid out to you prior to the call, so you understand what you can and cannot discuss in the call. It’s rare that you’ll be asked to share any non-public information, and you should decline to answer any questions you feel moves into this territory; clients won’t press you to share things that you shouldn’t.

What’s Next?

After the call, your payment information will be collected, and you can expect payment within 14 days via ACH direct deposit. 

Now that you’re part of the Ridgetop Research expert network, don’t be surprised if you are contacted for many more projects. Expert networks are a great way to capitalize on your industry experience.

If you haven’t already been contacted by Ridgetop Research about a project, you can reach out an an associate by emailing [email protected]

Dialectica Review

Have you received a message from someone from Dialectica, seeking a few minutes of your time for a paid consulting opportunity? Are you wondering what this opportunity is legit or a scam? Learn what to expect and how to land high-paying consulting projects with our review of Dialectica, one of Europe’s fastest growing expert networks.

What is Dialectica?

Dialecticanet logo

Dialectica is an an expert network, a recruiting firm that specializes in custom sourcing subject matter experts for short-term consulting projects. Expert networks are a $1.5 billion industry that cater to institutional investors (management consulting firms, private equity, hedge funds, mutual funds, etc.) doing market research or performing due diligence on a company or subset of companies in preparation for an investment. Expert network opportunities generally take the form of a 1-hour phone consultation between the subject matter expert and the client. Expert networks are a great way to capitalize on your industry experience, even after you leave!

Founded in 2015 by former management consultants, the firm now consists of 250 employees across 4 offices in Athens, London, New York, and Montreal. Dialectica offers three core information services: 1-to-1 expert conversations, project- length expert engagements, and surveys or reports generated via expert knowledge.

Dialectica is certainly a legit company. It has facilitated over 20,000 projects and was included in the Financial Times’ 2021 list of Europe’s fastest growing companies. It was the fastest growing expert network on the list, ranking 300th on the list with £10.5 million in 2019 revenue – 525% growth since 2016. (Larger European expert network Atheneum Partners also made the list at #701.)

What’s it like to consult with Dialectica?

If you have been contacted by an associate from Dialectica, your LinkedIn profile likely indicated that you would be a good fit for a project. Associates generally use the following criteria to judge whether you are a good fit for a project:

  • You used to work at a company a client is trying to learn more about. The general rule of thumb is that you must be at least 6 months removed from the target company.
  • You currently or used to work for a competitor to a company the client is trying to learn more about.
  • You have relevant experience in a parallel industry or market, or worked for a company that was customer of the target company.

The associate will send you a link to a questionnaire that will ask for more details on your relevant work history, as well as a sampling of the questions the client will want to ask in the 1-hour phone consult. It’s important to understand that these questions are not meant to replace the interview, just prove that you have the knowledge and experience they are looking for. The questionnaire shouldn’t take more than 10 minutes to fill out. You may also be asked to give your availability for a 1-hour call.

It’s important to keep in mind that even if an associate thinks you are a good fit for the project, and you think you are a good fit for the project (based on the vetting questions), there is a chance you may not be selected for a call. The associate will submit your profile to the client for review, and there are plenty of factors that affect whether you get the project: consulting rate, vetting question response time, time to accept the compliance document, and other factors outside of your control. Even if you don’t get this project, going through these motions will register your in their database and ensure you are identified quickly for future engagements.

Setting your Dialectica Consulting Rate

Expert network consulting rates vary widely and are dependent on how recent your experience is, the depth of your experience, and job title. Typically, you will receive project requests for experience in companies or job titles within the last 3 years, but the more recent your experience is, the higher likelihood you have of landing the client call. Similarly, the higher your job titles, the higher rate you can command.

Typically, you will be offered $100-$200 for a role below the Director level. A Director or above will likely be offered $200-$350 for participation in a call. While you can absolutely negotiate for a higher rate (and you should!), it’s unlikely that you will be successful in securing more than $100 above the initial offer for your first call. 

You can always renegotiate each time you are contacted for an opportunity. You should try to gauge the demand for your experience— are you receiving a high volume of requests? — and evaluate how niche your industry or experience is to determine a fair rate. Some experts can command rates of $500- $1,000, but those experts are often in small or niche industries where it is difficult to source experts, or they are trusted experts who have completed several successful calls and proven their worth to a network.

You should also know that your rate will be pro-rated (by the minute) based on the amount of time you are in a call. If the call goes under 1 hour, you will not be paid for the entire hour. Conversely, if the call goes over the hour, you can expect to be paid more than the initial negotiated rate. 

Acing Your Dialectica Consulting Call

Dialectica consulting projects

An expert network consulting call is not like other types of consulting engagements in that you are not expected to prepare or generate a deliverable. The questions the client will be asking should be easy for you to answer, based on the depth and breadth of your experience in a given industry. If you are asked a question you don’t now the answer to, it’s best to admit you don’t know and offer to follow-up with the answer, or give it your best educated opinion. 

Most calls are centered in a company the client is performing due diligence on. In this case, the client will want to understand the target company’s positioning, go-to-market strategy, business model, key challenges and opportunities, and the competitive landscape. The client will likely have done extensive research on the company and industry, and are getting a sense of the company’s growth prospects by testing their hypotheses against your knowledge.

It’s important to note that clients are not seeking proprietary information on the company. In fact, exchanging proprietary information in an expert network consulting call is illegal and considered insider trading. Many calls are recorded and transcribed for internal purposes and subjected to compliance tests. The compliance terms will be laid out to you in a non-disclosure agreement prior to the call. Regardless, you should use your best professional judgement when answering questions to avoid any compliance issues. 

Getting Started with Dialectica

Now that you’re part of the network, you will be contacted for more projects that align with your experience. Expert networks are a great way to capitalize on your career and knowledge. If you haven’ t been contacted by an associate from Dialectica, you can still register to be added to their network by signing up to be a specialist here.

Atheneum Partners Review

Have you been contacted by an associate from Atheneum Partners with an opportunity to participate in a hour-long consulting call? Are you wondering if the opportunity — or Atheneum Partners— is legitimate or a scam? Learn if you should work with this fast growing expert network in our Atheneum Partners review.

What is Atheneum Partners?

Atheneum Partners Logo

Atheneum Partners GMBH is a mid-sized expert network headquartered in Berlin, Germany with offices in other 10 countries. It operates a Research as a Service (RaaS) product model to conduct primary research for management consulting firms, investment houses, and corporate clients. They offer a small variety of consulting products, including 1-hour consulting calls, primary research deliverables, and long-form consulting opportunities. Atheneum produces research for projects across 8 industries: Consumer Goods, Energy & Utilities, Financial Institutions, Healthcare, Industrials & Transportation, Materials & Natural Resources, and Public Policy. Atheneum Partners is an expert network that wants to leverage your industry knowledge for their clients.

Is Atheneum legitimate — or a scam?

Atheneum Partners is a legitimate company with a 10 year history that operates all over the world— it is not a scam.  In August, 2021, Atheneum announced that it had raised $150 million in equity investment, led by Guidepost Growth Equity. The company disclosed that is currently generating over $50 million in annual revenue, with growth rates of 50% or more in 2020 and 2021! Atheneum ranked as one of Europe’s fastest growing companies according to the Financial Times (along with the smaller, but faster growing Dialectica.)

However, it’s noteworthy that in the process of researching this review, I found more than a few complaints from consultants about the company’s payment terms, timing, and occasional habit of not sending payment at all. It appears the company has addressed these complaints directly on forums and with the consultants themselves, but it’s concerning as it appears that these complaints are consistent over a long period of time, and continue through 2021. 

While these complaints do not mean the opportunity is a scam, it does indicate that the firm may have some chronic operational issues that could delay your payment longer than the industry standard. Atheneum’s payment terms are within 45 days, while most other expert networks issue payment within a few days or a couple of weeks of completing a project).

(And of course, you should always exercise caution when dealing with people whom you don’t know on the Internet. Beware of impersonators utilizing fake Atheneum Partners email addresses, and know that an expert network will never ask you to send them money.)

Onboarding with Atheneum Partners

If an associate from Atheneum Partners has reached out to you via email, phone call or LinkedIn, you have been selected for screening based on project criteria, including:

  1. You are a former employee of a company the client wants to know more about, usually for due diligence purposes, before purchasing or investing in the target company. You must be at least 6 months removed from your employment with the company to be eligible for participation.
  2. You are a current or former employee of a competitor of the company they are researching, and the client wants to know how the target company is positioned and viewed by competitors.
  3. You are an expert on a related topic, industry, or geography that can offer insight on the industry, even if you’re not overly familiar with the target company or product.

The associate will take a few minutes to explain the project parameters and have you fill out a survey to vet your relevant experience and knowledge. The survey is intended to solicit a high-level understanding of your ability and confidence is speaking to various subjects, and is not intended to substitute the client call. It’s also important to understand that filling out a survey doesn’t guarantee that your profile will be selected by the client. Even if you are not selected for this particular project, participating in this process will register you in their database, enabling you to be quickly selected for future projects.

At the end of the call, the associate will gather your availability for a 1-hour call, discuss your hourly consulting rate, and discuss their compliance policy, which you will need to review and accept to move forward in the process.

Atheneum Partners Consulting Rates 

Atheneum Partners payment problems
Atheneum Partners has received an above average number of complaints about payment issues.

Atheneum’s hourly consulting rates vary widely based on your relevant job title, and how many years you are removed from the industry or relevant job title. The closer you are to the relevant job title, the more likely you can command a higher rate for your expertise. You may have to listen closely to the type of questions they ask to ascertain what part of your employment history is most relevant, but often the associate will ask you directly about a specific title. 

The associate will usually offer an initial rate: $100 – $200 for a title below director, $200 – $350 for a title between director and C-suite, and $350 – $500 or more for someone with a C-suite role. It’s important to know that while this rate might be presented as a final offer, the actual hourly rate is up for negotiation. Some experts get paid $1,000+ for the 1 hour calls via Atheneum, but only if their knowledge is niche, related to a very large company, or the expert has a track record of successful client calls.

The best way to maximize your consulting rate is to let the associate know that you have worked with expert networks in the past and that you already have a set rate. Announcing your rate early in the call, or early in the negotiations, allows you to set the benchmark based on a range that makes the engagement worth your time, rather than allowing the associate’s metrics to dictate your pay. You should note that you can renegotiate your rate each time you are contacted for a project, so you can increase your rate over time as you become more comfortable participating in client calls.

It’s in your best interest to keep the call going as long as you can, as your hourly consulting rate is pro-rated based on the amount of time you’re in the call. According to their compliance document, Atheneum compensates for the initial 30 minutes, and then for every 15 minute increment beyond that, as well as an unpaid 5-minute leeway period provided to each client to wrap up a consultation.

Acing your Atheneum Partners Call

Most client calls are centered on a particular company, industry, or product. The client will ask you to discuss the vetting questions in much more detail than in the vetting process with the associate from Atheneum: core competitive metrics, competitive landscape for each industry vertical, product strategies, brand positioning, and customer loyalty are some examples of the topics you’ll be asked to elaborate on.

The client is not expecting you to prepare a presentation or deliverable for the call; they are looking to rapidly download industry knowledge via your many years of experience. You can expect that clients have done their own basic research, reviewed publicly available information, and perhaps heard a management presentation. They have come prepared with specific questions to confirm or clarify aspects of the business.

If the client is an investment manager, the call will likely be centered on a particular company. The client will want to know how the target company compares to its’ competitors, product and feature differentiation, pricing strategy, quality of management, etc. These types of calls will often resolve around your former employer or a major vendor that you worked with frequently, with emphasis on the key factors influencing your decisions.

Alternatively, if the client is a management consulting firm, the call will be centered on a particular issue or problem they have been tasked to solve. The client may be looking to develop a marketing strategy, solve chronic operational issues, or restructure an organization. These types of calls will often center your approach to an issue, your impressions of various products, factors that influence budget and purchase decisions, or to provide feedback on potential new products or solutions.

You should have an easy time answering the questions during the call- after all, the client wants to learn about an area via your experience. Even so, you may not have all the answers, or know figures off the top of your heads. You can always be honest and say you don’t know, and you should never make up answers. Clients often have multiple calls on the same subject and if it becomes apparent that you lied, you may be blacklisted.

It’s important to note that you will never be asked to share non-public or proprietary information during a client call, and Atheneum will have provided you with clear compliance guidelines prior to the call. In the rare event that you are asked to disclose non-public or proprietary information, you should decline to answer. Atheneum records their calls and offers transcription as a service to their clients, so you should know that exchanging this type of information is considered insider trading and could be met with considerable legal issues. One of the key responsibilities of expert networks is to ensure that improper information isn’t exchanged on a client call, with both parties bound by strict compliance standards.

What’s Next?

Atheneum offers payment via PayPal or ACH direct deposit, and you can expect payment within 45 days of the completion of the call.

Now that you’re a part of the network, you will periodically be contacted for participation in new projects, especially as you build a history of completing successful client calls.

Expert networks are a great way to capitalize on your experience. If you haven’t been contacted by an associate from Atheneum Partners, you can still register to be added to their network by visiting their website.

Magellan Research Group Review

Did you recently get a call, email, or LinkedIn message from an associate at Magellan Research Group with an offer for a paid consulting opportunity? Getting paid a high hourly rate for just an hour of your time sounds almost too good to be true – perhaps you’re wondering if Magellan is legitimate or a scam?  Here’s what you need to know about landing high-paying consulting projects with this fast growing expert network. 

What is Magellan Research Group?

Magellan Research Group Review

Magellan Research Group is one of a plethora of expert networks that have appeared in recent years to source experts for market research projects for institutional investors— usually private equity, hedge funds, and consulting firms. Magellan Research Group is legitimate – it’s certainly not a scam! – and has been operating for 10 years from its offices in New York, NY. Their core product is the 1-hour phone consultation, although they offer a variety of services, such as management checks, custom industry surveys, and industry conferences. The firm is small, and specializes in a personalized and streamlined expert experience by utilizing the most efficient process to cut down on paperwork and vetting time so experts can focus on client calls.

It’s not uncommon for an expert to be asked for a follow-up call, or follow-up project with the client, which would be compensated at the same rate. Usually this happens when a client expands on a project, adds a new angle, or just has an excellent conversation and wants to work more closely with you for their project.  A short phone call can sometimes turn into a lucrative consulting project via Magellan!

While one hour client calls are Magellan’s bread and butter, they can be a springboard to larger consulting opportunities.

What to expect

If an associate from Magellan Research Group has reached out to you, it’s likely that you fit the criteria for a project:

  1. A former employee of a company on which they are doing due diligence. The industry standard practice is to source experts who are at least 6 months removed from the target company to ensure that any information exchanged is immaterial and thus not insider trading.
  2. A current or former employee from a competitor in the same industry.
  3. An expert on a specific topic, market, or geography from a parallel industry. This could include a current or former customer of a product or type of product.

One of the most time-consuming aspects of working with expert networks in general is the amount of paperwork an expert has to complete to apply to work on a project after they have been identified as a potential fit. While other expert networks will frequently ask you to complete questionnaires detailing your relevant work experience, Magellan’s associates do the work for you by crafting your biography based on the vetting conversation. 

It’s important to give the associate the best high-level view of the topics they are asking about, as the client decides which expert to take a consult call with based on their biography. The vetting conversation is meant to be short, lasting no more than 15 minutes, but associates will stay on longer if you’re willing to provide more details, because those details could be the key to selling the call.

At the end of the vetting conversation, they will let you know if they believe you are a good fit for the project and if so, discuss your hourly consulting rate, your availability for a client call, and an overview of the compliance policy. Even if you aren’t a good fit for this particular project, you can still be added to their expert network database and may be tapped for future opportunities.

Magellan Research Group Consulting Rates

Magellan’s hourly consulting rates vary widely and the initial rate you are offered will be determined by a number of factors, including your job title and how many years you are removed from the industry or relevant job title that the client is researching.  The closer you are to the relevant job title, the more likely you are to be chosen for a call, and thus more likely to command a higher rate.  While you may have been called about a job you held three years ago, it may be unlikely that the client will take a call with you.

If you are below a director-level role, you will likely be offered $100-$200. If you are a director or above, you will be offered $200-$350. The associate is authorized to offer as high as $500, but anything higher has to be approved by a manager and could mean that your profile is not proposed to the client. Some experts really do get paid $1,000 or more per call through Magellan, but usually after they complete several calls and demonstrate that they are able to consistently offer clients the type of conversation that is extraordinarily useful and informative. 

The best way to maximize your consulting rate is to let the associate know that you have worked with expert networks in the past and that you already have a set rate. This lets the associate know you are experienced and know your worth. It also sets a benchmark for the negotiations, so you can limit the pay range to what makes the engagement worth your time. Additionally, if you have been contacted for many projects, your knowledge is probably in demand and you can renegotiate your rate with each project.

You should note that your hourly consulting rate will be pro-rated based on how long you are on the call, so it’s in your best interest to keep talking (er, providing valuable insights!) to keep the client on the phone. Like many expert networks, Magellan really pays by the minute, so you won’t receive your full hourly rate if the call is an under hour, though the good news is that you’ll earn extra on calls that exceed 60 minutes – nothing beats earning an extra $50 by keeping a good conversation going a little longer!

Acing Your Magellan Client Call

Okay, so you’ve done the vetting call, settled on a rate, and scheduled a call. What can you expect?

The vast majority of client calls are centered on a particular company, industry or product. The client will want to know the details of the industry— how it works, business models, verticals, customer types, competitive landscape, key growth drivers, challenges, and trends. 

The client is not expecting you to prepare for the call— they are looking to rapidly download knowledge of the industry via your many years of experience. Clients have generally done their own research, reviewed publicly available information, and heard a management presentation. What they are looking for is an insider who can confirm the research and give an informed opinion of the growth prospects and challenges of a particular industry, company, or product.

If you’re speaking with an investment manager, they are likely researching a particular company, they will want to know how it compares to its competitors, product and feature differentiation, quality of management, etc. These calls will often revolve around your former employer or a major vendor that you work with frequently, in which case they’ll want you to compare it to other similar products you vetted, with emphasis on the key factors influencing your decision.

Alternatively, the client may be a management consulting firm, which is tasked with developing a marketing strategy, solving operational problems, restructuring an organization, or other issues.  These calls will often dive into how you approach a particular issue or problem, your impressions of various products, how purchase and budget decisions are made, and to provide feedback on some potential new products or proposed solutions.

You’ll usually have an easy time answering most questions during a call – after all, the client wants to learn about an area that you’ve been working in for years.  Of course, you may not have the answer to everything, so don’t feel bad for saying that you don’t the answer to a certain question; the client will move on to the next question on their list and they aren’t paying top dollar for made-up answers!

It’s important to note that you’ll never be asked to share non-public or proprietary information, and Magellan will provide you with clear compliance guidelines several times before you connect with the client.   One of the key responsibilities of expert networks is to ensure that improper information isn’t shared with clients, who are bound by strict compliance standards.  It’s rare that you’ll be asked to share any non-public information, and you should decline to answer any questions you feel moves into this territory; clients won’t press you to share things that you shouldn’t.

What’s Next?

Immediately after the call, you should get an email thanking you for your participation. There will be a link to the invoice system, which will offer 3 different payment methods: ACH direct deposit, a physical mailed check, or a donation to a charity. Magellan processes all expert payments at the end of the month.

Now that you’re a part of the network, you will periodically be contacted for new projects, as associates are more likely to tap you for projects if you have a history of completing successful calls. 

Expert networks are a great way to capitalize on your experience. If you haven’t been contacted by a Magellan Research Group associate, you can still register to be added to their network by emailing [email protected] to get started.

AlphaSights Review – Should You Consult for the Second Largest Expert Network?

Have you received an invitation to consult with AlphaSights, offering to pay you a high hourly rate for holding a brief phone call with their client? Wondering if it’s a legitimate opportunity or too good to be true? Learn what you need to know about working with one of the world’s largest expert networks in our comprehensive AlphaSights review.

What is AlphaSights?

alphasights logo

AlphaSights is one of the largest expert networks, and is considered to be one of the “the big five” firms that dominate the nearly $2 billion industry.  Some industry estimates name AlphaSights as the second largest expert network after behemoth GLG.

Co-founded in London, England in 2008 by Max Cartellieri (also the founder of Ciao AG) and Andrew Heath (founder of GoIndustry). Within a handful of years, they launched branches in New York, Hong Kong, Dubai, San Francisco, Seoul, Hamburg, Tokyo, and Shanghai, connected clients around the world with experts across countless business sectors. Cited in 2017 by Financial Times as one of Europe’s fasting growing companies, AlphaSights calls itself a “professional services firm.” Its mission statement? “To connect the world’s top professionals with the world’s best knowledge: reflecting our fundamental belief in the power of connecting humanity’s knowledge.”

Overview of Expert Networks

If you’re reading this review of the AlphaSights expert network, perhaps it’s because you received an LinkedIn invitation to be an expert consultant or advisor. Now you’re doing your due diligence to research the company and see if AlphaSights is legitimate or if you’ve been targeted by some type of scam. Maybe you aren’t certain if such networks are an actual thing! The concept seems too good to be true—a company that pays you hundreds of dollars an hour for consulting other companies? 

Well, expert networks are a nearly $2 billion global industry, and as one of the biggest firms, you can rest assured that AlphaSights is legit. They build a giant pool of subject matter experts, then, as a sort of middleman agency, they advertise that pool to organizations that might need services. There’s nothing mysterious about it; it is a business model we see every day and think nothing of it. (That said, online scams are certainly prolific, so you should be suspicious if someone asks you for money or payment information to participate with an expert network!)

Management consultants and investors are the primary clients of expert networks like AlphaSights, with corporate customers representing a small but growing customer segment. One major business decision can drive a company’s entire trajectory, make or break them, earn (or cost) them millions in revenue. That’s why clients typically pay AlphaSights $1,000 per hour or more to source experts like you.  While the hourly cost seems quite high, it is a trivial amount to spend to gain insights that shape multi-million dollar (or more) decisions!

It isn’t just management consultants within companies that seek out experts for advice; investors do, too. AlphaSights’ clients are looking for the “straight dope” from seasoned pros who’ve had their boots on the ground inside a specific sector and can speak truth to power without fear of ramifications or a need to please the boss. 

When an AlphaSight’s associate reaches out to you with the promise of sky-high rates for an hour of  your time, they’re not exaggerating.  Many experts charge $250 – $500 for a one hour phone call, with lower rates for younger professionals and significantly higher ones for very senior executives or people with very specialized expertise.

(Alphasights is also one of top 20 recruiters of college graduates and hires large intern classes throughout the year, according to careers site Handshake. So if you’re reading this review to prepare for an interview for the AlphaSights associate program or intern programs, you’ll find this information helpful as well!)

What should you expect on an AlphaSights consulting call?

Alphasights recruiting
Alphasights recruiters frequently reach out to prospective consultants via LinkedIn

How do phone call consults go for an expert network project? There are three types of calls you can expect. The first is a request for a “company deep dive”; the next is a much broader industry overview. The last is a consultation with other subject matter experts (sometimes called knowledge bomb conversations. See our Ultimate Expert Network Guide to learn more about those). 

The deep dive is of particular interest to potential investors looking for keen insights into a specific company before deciding to sink money into it. Industry overviews help paint a big picture about a sector’s customers and future. Calls from other experts empower firms to improve offerings; essentially, they borrow your expertise to boost their credibility in their customers’ eyes during times of change or crisis. 

It’s important to note that confidential calls are held to a high compliance standard, and consultants should not disclose privileged information. They can dive into complex financial data, and possibly personal insights about management, strategy, customer complaints (or other information that is releasable yet may not be published on reports), though. When an AlphaSights call is finished, the Advisor’s obligation is over and payment is sent within a few days!   

Do I qualify as a subject matter expert? 

When expert advisors get started, it is common for them to wonder if they possess knowledge a company or investor would pay to hear. Some go through a phase of “imposter syndrome,” as if they are simply pretending to be experts. Luckily this feeling goes away fairly quickly, especially when the checks start rolling in. 

There are thousands of clients in need of all types of insights and feedback. They receive significant benefits from reaching out to consultants. If they didn’t, expert networks wouldn’t be a billion-dollar industry. But how can you be sure you qualify? Well, we’ve talked about the three main types of calls that are made—the company deep dive, industry overview, and consultation. Most of us who’ve worked within a particular company or in a specific sector for a few years have gleaned unique knowledge from those experiences. That knowledge has value and is marketable! 

How do I set my AlphaSights hourly consulting rate?

Alphasights consulting fees

If you’ve been working for only a handful of years for a particular company or sector, you might set an hourly rate between $100 – $150/hour with AlphaSights. Seasoned members can charge up to $300 – $500 an hour, while major corporate players might ask for thousands of dollars. 

When choosing what you feel is a reasonable rate, keep in mind three things. One, customers aren’t looking for the cheapest rates; they are looking for the best value. Two, your insights may drive a decision that could be worth millions of dollars, so don’t undervalue your services! Three, remember that AlphaSights will markup your services considerably. 

Check out our comprehensive guide on how to set your expert network hourly rate, which dives into the weeds on pricing models. The better you understand how pricing works, the more you can set an AlphaSights consulting rate that fairly compensates you yet doesn’t scare off clients. 

What are the downsides to consulting for AlphaSights?  

AlphaSights operates a large, competitive network filled with highly-qualified advisors. There is no guarantee of work, and it takes time to establish your reputation. You may receive invites to bid on projects, but it can get frustrating to spend 5 – 10 minutes each time, tailoring and polishing up bids that get rejected. The trick is to learn from each experience and be persistent. 

Like many expert networks, project opportunities through AlphaSights tend to be feast or famine so it’s hard to count on this revenue and not uncommon to go for very long stretches without landing a project.  On the flipside, if you’re a top expert on a hot topic or company, you may briefly find yourself inundated with project requests.

How can I win more AlphaSights consulting projects?

To get hired more often, it pays to be discovered! This means optimizing your Advisor profile with relevant keywords and search terms. Ensure your profile is concise, impactful, persuasive, and error-free. It should feature a strong summary of employment history and relevant knowledge. Read a few profiles of high-priced consultants in your field and borrow ideas that apply. Then, if needed, hire a writer to help you punch your draft up!  

AlphaSights’ Client Service Team works hard to connect clients with industry experts who can offer the right answers. You must be proactive and keep an eye out for opportunities, then get your proposals out the door! However, don’t cut-and-paste generic wording. Take time to tailor the phrasing so you’re speaking to the client’s unique needs. Yes, that takes longer, but the return on investment will be higher. And the more consultations you complete, the more feedback you’ll receive. Those feedbacks help you land work! 

As you put out proposals, you’ll walk a fine line between selling yourself and staying objective about your qualifications. Every client is different, but they all value honesty, so be clear about what you can offer without promising the moon and stars. Give concrete examples from your past that feature hard numbers and the tangible impacts your work made. Show how your knowledge can add value and is worth the price of admission. 

Now that we know who can afford those high-priced consults, let’s explore what types of consults are available! 

What types of consulting projects does AlphaSights take on? 

AlphaSights offer a wide range of services, via their network of external industry experts. Not all of AlphaSights’s “knowledge-holders” aka Advisors are C-suite types. Expert advisors are pulled from all levels of virtually every business sector. They come from all backgrounds and different countries to engage with clients remotely, running the gamut from market intelligence, broad industry perspectives, specific organizational insights, and general advice to inform decision-making. 

The types of projects they take on are as varied as their massive client roster, which means AlphaSights has opportunities for a wide range of specialized experts. For large scope projects, they might put together a team, but in general, you might expect to do 1:1 calls starting out. 

Consulting Calls

Clients use AlphaSights to connect with advisors and hear insights and solutions. Advisors get to decide what projects to take on, and what times are mutually convenient to do the calls (though it pays to be flexible). There’s nothing to prepare, though it can be helpful to do some research ahead of time for specific projects. Once a call is over, there’s nothing more to do except kick back and wait to get paid.  

Expert advisors get more than financial compensation, though. They gain invaluable opportunities to expand their own network, build relationships, hone their skills, and learn new things. With each call, the consultant adds value to their own portfolio. 

As mentioned above, all parties must be very mindful of avoiding compliance pitfalls. Clients can’t ask for sensitive or protected information such as trade secrets, and advisors can’t share it. Parties on an AlphaSights call are obligated to comply with ethical rules and legal restrictions. Apart from that, the direction of the call is largely up to the client. They might have an endless stream of questions, or might want to learn what types of questions they should be asking! You’re paid to listen, respond to the best of your ability, and let the call go on for as long as it needs until the client is ready to get off the line. Again, AlphaSights pays per minute, so you’re compensated if a call stretches over the standard hour. 

Broader Services 

AlphaSights states that they “source and qualify the best industry experts for our clients to speak to via phone, in-person meetings, and full-day workshops.” In-person meetings are similar to phone consultations but are sometimes more suitable (except when there’s a pandemic going on!). For now, we won’t dive too much into the workshops, lucrative though they may be. Most Advisors start doing phone consults, so that’s the best place to focus your energies until your reputation on the platform is secured. 

Is AlphaSights legit or are this a scam? 

AlphaSights is entirely legitimate and has a solid history. With offices in New York, San Francisco, London, Hong Kong, Seoul, and other major cities around the globe, plus a client roster featuring multinational conglomerates, they have established themselves as a leading institute in the expert network trade. AlphaSights vets applicants to ensure they are contracting only professionals to serve as Advisors for their clients. This occurs through an Account Manager who facilitates the process to save clients some legwork by narrowing down choices. 

AlphaSights model is also helpful because of its discretion. Instead of a business casting a wide net in its search for independent advisors, it can simply go through AlphaSights and limit the number of people hearing about the request. In today’s business world, news of a company seeking outside advice can create a buzz. So, even though AlphaSights is serving thousands of clients every day, their business, by nature, is somewhat discrete. 

How much should I charge, and how much can I earn at AlphaSights?

AlphaSights, like other expert networks, doesn’t explicitly list a lot of details about how much their consultants make. If you think about it, why would they? They don’t want customers to see the markups! Again, expert networks earn a living by charging a substantial markup on the amount that they actually pay out to the folks doing the work.   

So what should you charge? Set your expert network rate too low and it’s quite possible to leave hundreds of dollars on the table, while if you ask too much you could not only lose out on the project, but burn your relationship with an entire expert network.  

It’s not a simple question to answer, but if you learn how to thread the needle, you can maximize your earnings by landing the most opportunities at your highest average rate. The best way to decide upon an hourly rate is to get started on your account. To do that, you can reach out to AlphaSights via their Contact Us form. Under the options, select that you are interested in being a potential Advisor. If they reach out to you to create a profile, you should be able to review other profiles and gauge the going rates for industry experts with comparable backgrounds. 

Conclusion 

If you have experience-based knowledge and insights worth sharing, hopefully this AlphaSights review has shown that you can probably connect you to customers who’ll pay for it. It doesn’t get any better than earning a few hundred an hour to hold a business discussion with a stranger! 

AlphaSights likely doesn’t want to deal with a flood of candidates banging on their door, so their process is not overt. Their website is aimed at business clients, not at recruiting Advisors. However, if you reach out to them via their Contact Us form, you should hear back from a rep soon. You’ll never know until you try! 

Coleman Research Review – The Pros and Cons of Consulting for a Global Expert Network

Receive a mysterious LinkedIn message or email with an invitation to consult with Coleman Research Group? Wondering if it’s a legitimate opportunity, what to expect and where to set your hourly rate? Dive in to our comprehensive Coleman Research review.

What is Coleman Research? 

Coleman Research

When business managers and investors need actionable information to make decisions, they contact Coleman Research. An expert network with offices around the world, Coleman connects clients to best-in-category subject matter experts who can offer timely industry insights that will drive decision-making. Coleman also keeps clients up-to-date on changes in our fast-based information economy, giving them an edge over the competition. 

Founded in 2003 by Kevin Coleman, Coleman Research is headquartered in New York, with offices in Boston, Hong Kong, London, Raleigh, and San Francisco and a network of 260,000 consultants. The company generated $43 million in revenue over the past years through 1-on-1 phone consultations, hosted events, and surveys. 

The company employs a multilingual integrated team that provides services to several sectors, including business and financial services, consumer goods and services, energy and industry, healthcare, legal and regulatory matters, media and telecom, and more. The Coleman expert network consists of current and former C-suite executives, managing directors, senior managers, and other industry professionals. A notable recent milestone was the announcement of Coleman’s partnership with management consultant group Inspire, allowing Inspire’s client base of non-profits to connect with Coleman’s global expert network. Coleman has also been instrumental in helping clients during the Covid-19 crisis, providing critical insights regarding the pandemic’s impact on markets.

As Coleman Research continues to expand operations, it needs a steady influx of talented specialists ready to share knowledge and experience with their clients. Intrigued? Then let’s dive in for a closer view at the expert network industry and what working with Coleman might look like for you! 

VQ Acquires Coleman Resarch

On August 18, 2021 Japanese expert network VisasQ (VQ) announced that it was acquiring Coleman Research for US$102 million to expand its global footprint. Once the transaction is closed in October, 2021, VQ will have relationships with 400,000 expert consultants to serve more than 1,000 clients. The combined company has stated that is goal is to become the largest expert network and will maintain offices in Tokyo, Singapore, Hong Kong, London, New York City, Los Angeles, and Raleigh.

Under the acquisition agreement, Coleman Research will be a subsidiary of VQ. Kevin Coleman will continue to be CEO of Coleman Research and will join the VQ Board of directors. Eiko Hashiba, CEO of VQ, and Hidetoshi Uriu, COO of VQ, will join Coleman’s board of directors.

“VQ and Coleman have a shared strategy: to become a top global expert network,” said Kevin Coleman, CEO of Coleman Research. “I am excited about partnering and collaborating with VQ, the leading expert network in Japan, and accelerating the execution of our growth plans. We look forward to working jointly to provide our clients with unrivaled service to meet their needs for rapid access to knowledge. VQ’s investment in Coleman is great news for our employees, clients and experts around the world.”

Overview of Expert Networks

Believe it or not, the concept of “expert networks” is still relatively unknown to the average American. And yet, it’s a burgeoning ~$2 billion-a-year industry, working at breakneck speed behind the scenes to give businesses and investors a cutting edge in an increasingly competitive market. 

Laypeople might not know about groups like Coleman Research, but savvy companies do. They rely on expert networks every day, but they don’t go around advertising that fact! Instead, businesses keep a low profile when it comes to how they source intel. They want to receive their consultations discreetly, away from the public eye. Coleman and other similar agencies understand that. They’re not operating in secret; they simply don’t make a big show about their services. In fact, most people who’ve heard of expert networks learned about them from someone who works for one or after seeing an ad (or getting an invitation) on LinkedIn. Expert networks used to recruit via word of mouth, but today they utilize the power of professional networking sites like LinkedIn to find and contract talent. 

As Coleman puts it, they are “information matchmakers.” Another way to say it—they’re middlemen. They find the clients for you to consult, and they get a hefty commission for making that connection. Specifically, Coleman facilitates “meaningful conversations between some of the best minds across all industries.” They look for qualified experts in a wide range of sectors who are willing and able to share opinions and advice in exchange for a generous fee. The advisor sets their hourly consulting rate, then Coleman marks that up and keeps the difference. It’s that simple. 

Businesses face an array of daily problems, and they often seek outsider help before making decisions. Investors also consult experts before deciding on how to position themselves. Coleman saves these types of clients time and energy by finding and vetting the right people who can provide useful information. This is done through a 6-Step process:

  1. Clients present Coleman Research with a project designed to help answer a question or solve a particular problem. 
  2. Coleman filters their vast talent pool to find suitable advisors. 
  3. Interested consultants might need to answer a few questions and submit a brief proposal. Clients will review submissions and choose from the candidates. 
  4. Coleman makes all the arrangements for the call.
  5. Clients talk with their chosen advisor. 
  6. Coleman releases payment and requests feedback. 

These clients don’t mind paying hundreds or, in some cases, even thousands of dollars an hour for information that could potentially make or save them far more money than they spend!

What should you expect on a Coleman Research consulting call?

Coleman Research consulting process
Coleman Research has a well-defined process to match experts with clients.

Coleman Research takes great care to provide value-added information within the confines of legal and ethical guidelines. As the company states, “Our business is built on trust, transparency, and sound ethics. These values are the backbone of our compliance program.” That’s why it offers compliance training to new experts who join the network and screens all candidates to ensure no glaring conflict exists if the consultant take on a particular project. 

For 1-on-1 phone consults, Coleman contractors set an hourly rate, but technically, they’re paid by the minute to chat about an expert network project. There are three broad categories that a call might fall under:

Industry overview — Big data is easy to get, but broad industry overviews are also popular for investors gathering intel about a particular company, market, or sector. They can use what they learn to form a big picture which data alone can’t always paint. Then they can make informed strategic decisions based on that big picture and what it indicates for the future!   

Company deep dive — Deep dives focus on a specific company, perhaps a competitor for the client who’s calling. That’s why consultants aren’t allowed to discuss current employers since it would create a conflict of interest. Some deep dives examine only a particular area of a company, perhaps a problem or something they’re doing right. This can help clients either learn from peers’ mistakes or attempt to replicate a peers’ success.  

Consulting with consultants — Even consultants need help sometimes, which is why corporate consultants might reach out and “phone a friend” to glean some objective insights that’ll benefit their clients. 

To learn more about the ins and outs of high-paying expert phone consulting, check out our comprehensive Ultimate Expert Network Guide

Do I qualify as a subject matter expert? 

Sometimes qualified individuals worry that they won’t make the grade or that they don’t know anything that would be valuable enough for a client to pay for! Essentially, they don’t think they’re qualified for this type of work. We say, why not let Coleman be the judge of that? 

What is a subject matter expert anyhow? Typically anyone who has worked long enough in a particular field or for a certain company becomes an expert on at least something! There is no checklist that lets you determine clearly whether or not your knowledge passes the test to qualify as an expert, though. The true test is to try and see. 

If you’re worried about “imposter syndrome,” don’t be! Everyone has to start somewhere. Out of the 12,000+ consultants in Coleman’s network, they all had to cross that invisible threshold from being workers to becoming (well-paid) consultants!  

How do I set my Coleman Research hourly consulting rate?

Coleman Research consulting fees

Expert networks love to recruit via LinkedIn, and they entice potential talent by dangling a cash carrot. But do these companies really pay hundreds or thousands of dollars an hour? Yes, in some cases, they do! 

Actually, their clients pay the money, and Coleman just adds their own fees as a markup to whatever rate you decide to set. Remember, Coleman isn’t necessarily looking for cheap labor here. The more you charge, the more they can mark up your rate. So they want to find advisors who can command high rates! That doesn’t mean to set an inflated rate arbitrarily. Your insights carry value, but that value might be subjective. 

Generally speaking, if you held a mid-level role in a company for a few years and possess some information and opinions a client would pay for, consider setting a $100 – $150/hour rate. If you are a seasoned professional in a specialized role or position of authority, $300 – $500 an hour might be more suitable. Executives can often charge more than a thousand per hour since their insights can carry significantly more weight. 

Coleman encourages experts “to set their own hourly rates based on industry standards, commensurate with their level of expertise and experience.” The company offers guidance for those who ask. You can also review our full brief on how to set your expert network consulting rate

What are the downsides to consulting for Coleman Research?  

Every job has its fair share of pros and cons. The critical thing to remember here is—this is not a job! 

Coleman Research does hire full-time employers, however, their experts are contractors who may or may not ever get work. There are no guarantees you’ll ever be selected for a project and even if you are, sometimes projects fall through. 

The biggest complaint we’ve seen about Coleman from consultants who’ve worked for them is that there isn’t enough work. A couple of others mentioned a lack of feedback or clients canceling on them. But if you come into the process with some expectation management, you shouldn’t be disappointed. 

Glassdoor contains a small mix of reviews on Coleman (again, filtering out full-time employees and only looking at contractors). Below are a few for you to check out, and as you’ll see, even the positive reviews mention the sporadic workload: 

Indeed also features reviews from contractors, mostly positive:

Consulting for Coleman Research isn’t remotely close to being a full-time gig. Some consultants get more work than others, simply because they’re in more demand due to their qualifications or customer service. Coleman makes the connections, but it doesn’t control the marketplace except to help vet potential advisors in the early stage of the process. Otherwise, it’s a competition and up to advisors to persuade clients to work with them. Those who persist swim; those who don’t may sink! 

How can I win more Coleman Research consulting projects?

As with any work, you should eventually start getting picked up for projects if you’re qualified and competitive. Otherwise, you might end up going hungry in this “feast or famine” environment! 

How do you know if you’re qualified? Coleman will do some vetting first, so if they contact you, you know you’re at least preliminarily qualified. It’s up to you to review the project details carefully then decide if you want to throw your hat in the ring or not. If you believe your insights can lead that client to make a good decision—and you can persuade them of that fact—then go for it!

If not, take a pass and keep trying. It doesn’t do any good to try for projects you’re not qualified for. That’s a waste of your time, so focus on the ones you’ll excel at so you can earn positive reviews! Spend sufficient time reviewing the project and writing a compelling proposal. Be professional, edit your work so that it’s error-free, and make sure your LinkedIn profile is polished, too (in case they look at it!). 

At the end of the day, just remember that there are other expert networks out there, so if you’re still not getting enough work from Coleman’s, you can try GLG, AlphaSights, GuidePoint, or Third Bridge

What types of consulting projects does Coleman Research take on? 

Coleman Research offers 1-on-1 consultations as well as hosted conferences and events and expert surveys for clients in the following industries: 

  • Business and Financial Services
  • Consumer Goods and Services
  • Energy and Industrials
  • Healthcare
  • Legal and Regulatory 
  • Tech, Media and Telecom

Their primary service offering is the 1-on-1 call. Coleman Research connects advisors and “industry thought leaders” who can offer relevant, timely, first-hand perspectives on key issues. Calls may last an hour or more, during which time clients can steer the interview based on their needs. It’s up to the consultant to ensure there are no breaches of confidentiality and to report anything questionable in accordance with the Terms and Conditions, which “prohibit the disclosure of confidential and material, non-public information.”

Hosted Events

Coleman Research offers hosted events featuring a crack team of experienced analysts who are up-to-date on the latest industry news and trends. In-house experts staff these events, so contractors are not likely invited to participate. However, for those able to establish a solid reputation with the company, who knows what doors might open? 

Expert Surveys

Coleman Research does offer survey services to their clients, however, the company’s website does not specify whether they use contracted consultants to complete these or not. It seems like they do, based on one of the case study writeups! Since they don’t publish details on how contractors can qualify to participate, we suggest filling out an application to join the network. If one of their representatives reaches out, that’s the best time to ask for specifics on how to get involved with some of those low-stress surveys. 

Is Coleman Research legitimate or is this a part of a scam? 

Coleman Research is a legitimate international company that focuses on facilitating short-term consultations between business clients and qualified contracted advisors. (Of course, you should always be diligent of scammers impersonating other companies!). You not only get paid for these simple phone calls, but you also receive the bonus of getting to converse with other experts working for management consultancies, mutual funds, hedge funds, and private equity firms. There’s no prep work involved, and advisors are free to accept or decline any work offered. 

How much does Coleman Research pay experts? 

How many invitations to consult for Coleman Research depends on many factors, including one’s area of expertise, experience level, and availability to take a potential client’s call. However, your rate will be a factor, too! You want to charge an amount that compensates you fairly for the value you provide the customer. That’s a very subjective equation, so in the beginning it makes sense to compare what peers are charging and set your rate accordingly. If you undercharge, it could indicate a lack of confidence, but if you overcharge and can’t deliver the goods, that may result in a negative review of your services. 

Just remember, expert networks make money by marking up your rate and keeping the difference. They obviously prefer not to disclose how much their markup is, but you can pull back the curtain and get the inside scoop through our detailed expert network rate overview!

Conclusion

Coleman Research boasts of a 90% retention rate with over 200K projects completed. Clearly this is a company that’s here to stay. They have built a giant sandbox for consultants to come play in. There’s no guarantee of work, but it’s free to apply and see what’s out there! So if the possibility of making over $100 an hour to answer questions on the telephone sounds like an opportunity you’d like to explore, why not give Coleman Research a shot? You can learn more about how to join their expert network here!

GLG Review – Should You Consult for the World’s Largest Expert Network?

Have you received an invitation to consult with Gerson Lehrman Group? Learn what to expect if you work with the world’s largest expert network, how to set your consulting rate, and land a steady stream short, high-paying projects in our GLG review.

What is GLG?

If you’ve received a paid expertise request from an expert network like GLG, you may have been skeptical. These invites offer to pay hundreds of dollars an hour to share your insights during a one hour phone with GLG’s clients. It may sound too good to be true, but expert networks are a thriving industry and provide lucrative payouts if you’ve got in-demand industry insights to give.  Your invitation to become a GLG network member can be your ticket convenient, high-paying consulting opportunities!

GLG (which is rebranded shorthand the Gerson Lehrman Group) and other expert networks profit by capitalizing on your subject matter expertise. They are well-compensated middlemen, connecting organizations with consultants within their in-house “community,” aka “expert network.” Why do companies hire consultants? Because a single critical decision can cost companies millions of dollars, so paying a few thousand in consulting fees is peanuts in comparison. 

Gerson Lehrman Group Offices
GLG has helped build a massive industry for buying and selling expertise.

Expert networks like GLG make perfect sense, which is why the industry now has almost 200 similar networks, raking in $1.5 billion in annual revenue. These networks are the bridge between experts and companies who need them. Investors and management consultants need straight talk from people in the trenches who can offer insights before they make an investment or a decision about a strategic direction to take. GLG’s clients need the “real story” from inside experts like you! 

In return, GLG tacks on a sizable markup (the company reports sky-high 70% contribution margins). For instance, the expert’s consulting rate might be $200 per hour, but GLG often charges its clients $1,000+ per hour for facilitating calls with industry experts who can deliver the straight scoop minutes after a phone call commences. Thus, we see the rationale behind those LinkedIn invites offering to pay you hundreds of dollars for an hour of your time.  While at first these opportunities may sound too good to be true, for professionals who qualify such projects are real and accessible, with expert networks like GLG facilitating over 1 million high paying consulting calls each year.

Click here to register as a GLG Council Member and start receiving project opportunities.

What should you expect on a GLG consulting call?

So what does an expert do during a one-hour client call for an expert network project? Essentially, one of three things. They may offer a company deep dive, an industry overview, or a consultation with other consultants (we explore these “knowledge bomb” conversations in more depth in our Ultimate Expert Network Guide)!

A deep dive may be requested from someone outside of a company, like an investor wanting to learn more before deciding what position to take. Such calls dive into hard numbers, insights about management, opinions on what customers like or dislike about a product or service, and other data that can’t be found on reports. 

The industry overview is broader. Often, a company speaks with several consultants to form a big picture about an industry, its customers, and its future. They might even ask what questions they should be asking!

The third type of call comes from consulting firms looking to improve offerings to their clients. They are offering expert services to a company but need to “phone a friend” when a new product is launched, or something isn’t going according to plan. Of course, anything they learn from you will appear to be coming from them when they pass it on! 

The key benefit to the expert network system is clear—once a consulting call is finished and you hang up the phone, it’s over. They got something they needed, and your obligation is concluded. Then you get paid! It doesn’t get much easier than that.  

Do I qualify as a subject matter expert? 

After learning that expert networks are legitimate, many struggle to believe they’d have knowledge worth someone else’s money. It’s the biggest question we ask ourselves: “Why would someone pay so much just to talk to me?” Many experts report experiencing a brief period of self-doubt or a sense of “imposter syndrome,” but that fades quickly. When a new consultant starts hearing positive feedback from customers who benefited from the consult, that’s when they appreciate what they can bring to the table. 

But how do you know if you qualify? Look again at the main types of calls—the company deep dive, industry overview, and consultation. Have you ever worked for a big company? Or within a particular industry for a long time? Have you ever trained or mentored another worker? If the answer is yes, you’re probably well-qualified to share your insights as a GLG consultant!

Remember, most clients are parachuting in to a brand new area to them and are eager to quickly learn how things really work. Oftentimes, banal decisions that you’ve been making for years are what that they’re excited to learn about – things like how you allocate budget, what goes in to pricing decisions, or which products do you expect to spend or less on are valuable insights to them. A good rule of thumb if there’s a topic that you could give a 30 minute prevention on, then you are probably qualified to consult on that area for GLG.  

How do I set my GLG hourly consulting rate?

GLG consulting rate

Networks pay a lot, but you don’t want to overvalue or undervalue your services! People in the early years of their careers may charge $75 – $150/hour with GLG, while senior professionals typically earn $200 – $300 an hour. Prominent experts are rumored to ask $5,000 per hour, though it’s unknown how often they get booked at that rate.

Worth noting — GLG pays by the minute, so your hourly rate is only a baseline; you’ll only get half of your hourly fee on a 30 minute call, but the meter keeps ticking if you exceed one hour. Meanwhile, they pay out like clockwork, usually 1 – 2 weeks after the call is completed. Keep in mind, the value of your insights depends on what they’re worth to the companies requesting them. Consider the salary for a professional football player. If a player puts butts in seats, they add massive value to the franchise, and can ask for astronomical salaries. They aren’t just getting paid for the work, but for the value they add. 

Deciding on a rate that maximizes earnings without scaring off potential customers is like walking a tightrope. That’s why we’ve written a full guide on how to price your consulting services, covering details of variable and category pricing models commonly used by expert networks like GLG. The more you understand how they earn, the better you can adjust accordingly. 

What are the downsides to consulting for GLG?  

Consulting for GLG isn’t all sunshine and rainbows. It can be competitive as increasing numbers of qualified candidates enter the arena. Every network has its own internal rules, but if you position yourself well, GLG may send you a handful of project invites each week. You’ll likely only be selected for a quarter or third of them. Responding to invites taks 5 – 10 minutes and yes, it can be frustrating to receive more “no thanks” replies than “yes, please!” For those just getting started, it can seem demotivational.

Let’s take a look at what workers in the field have said about GLG, in terms of pros and cons…

GLG consulting reviews and feedback

As the 800 pound gorilla of the expert network industry, GLG receives plenty of public feedback, listed on Indeed, Glassdoor, and even Quora. One of the top complaints about GLG is that work is sporadic, as these GLG reviews on Indeed show: 

Consultation business. Work is infrequent but lucrative.

“Consult for top tier companies. Mergers and acquisitions, general consulting and special projects. Work is infrequent but can be lucrative if available in your specialized area.”

Here’s another one: 

Great company, occasionally get interest from clients. Very part term

“From time to time, someone needs specialized help that I’m qualified to help with, probably only about 5 hours a quarter. However, I’m compensated extremely well for this time. It’s very low pressure when deciding whether to take a project or not.”

A thorough review of GLG on Quora points out a few of the pros and cons, such as this quote: 

“GLG associates are notorious for aggressively negotiating down rates, despite charging clients some of the highest prices in the industry.”

They are hard negotiators on fees and pay less than many other networks. They charge clients a fixed price (often $1,000 for an hour-long call), so the less they pay you, the more they keep. Alas, you still get to keep a lot! 

As mentioned, perhaps the biggest downside to GLG is the process of getting picked up for projects. You’ll have to spend time reviewing and bidding. So how can you boost your odds of getting hired? 

How can I win more GLG consulting projects?

GLG consulting projects
Sharpen up your profile with GLG and other expert networks and project opportunities will come pouring in!

Despite recent crowding of the field, there are strategic steps you can take to increase your odds of winning more projects. The first relates to being discoverable, so take time to research keywords you want to be found under, then create a keyword-dense profile. 

One of the most intuitive ways to get more work is to be the first person out of the gate, so keep your eyes peeled for opportunities and respond quickly. Being the first person to reply isn’t always going to land you the gig, but it always makes you stand out. 

Establish trust quickly by being honest and objective. First impressions count! The worst thing you can do is oversell your experience or abilities. Only apply to projects you are qualified to tackle and be candid when asked questions. Never deliver a promise you cannot keep, or you’ll tank your reputation quickly. 

That said, you still have to sell yourself, so be descriptive in all your answers. Provide sufficient detail about things you’ve done related to the project, and include hard data, financial figures, and impact. Show how you added value in previous work situations and demonstrate how you might add value to your potential new client. Convince them that you’re worth the return on investment! 

Overview of GLG

Gerson Lehrman Group (GLG) was founded in New York in 1998, originally focused on writing “sector-specific reports for investors.” Within a year, their core trio of Mark Gerson, Thomas Lehrman, and editor Alexander Saint-Amand realized the power of one-on-one consulting, which could often have a deeper impact than a cold, formal report. By 2003, they’d expanded operations to San Francisco, Boston, Los Angeles, and London, receiving a $30 million injection of investment capital to brand out into Chicago, Austin, and Washington D.C., as well. 

The expert network industry (or insight networks, as GLG is attempting to rebrand it) is booming, and as the dominant firm, GLG keeps getting bigger. In fact, GLG just announced plans for an IPO, revealing that it generated $322 million in revenue during the first half of 2021 – 14% year over year growth and eye-popping 70% contribution margins! Today GLG has a staff of over 2,000 employees serving 2,600 clients and more than 1,00,000 expert consultants from virtually all business backgrounds.

What types of consulting projects does GLG take on? 

GLG “serves clients on in-depth engagements and supports GLG’s client base of 1,400+ of the world’s leading corporations, investment firms, and nonprofits.” That client base consists of everything from financial services organizations to corporations and life sciences. GLG has opportunities for a wide range of specialized experts. For large projects, they may assemble a tailored team to work on objectives. In other cases, a simple 1:1 call between a client and an independent consultant (aka Council Member) may be all that’s needed. 

GLG’s independent consultants come from all walks of life, with varying experience and seniority levels. They offer projects for people at all levels, across most industries, and from around the world. According to their Why Become a Consultant page, 39% were already working for top consulting firms, and 33% are former execs. Most GLG consultants work remotely and may live anywhere in the world. Indeed, only 31% are based in North America, while 48% live in either South America, Europe, or Asia. 

Consulting Calls

GLG consulting invite
GLG recruiters frequently reach out to new consultants via LinkedIn

Organizations are willing to pay hourly rates to discuss their strategic and operational problems, get market feedback, and test out ideas. This comes with enormous benefits for you as the consultant! They need to hear your insights and possible solutions, so they’re coming to you. That means you get to schedule appointments when it is convenient for you, you don’t have to prepare anything, and there is no follow up. When you hang up, you’re done except for the getting paid part! 

Calls are usually quite interesting conversations that both parties end up learning something from, which is a bonus. Another less tangible perk is simply being considered and respected as a subject matter expert. That’s a status you worked long and hard to earn, so now is the time to reap the rewards. 

Things to be mindful of include the handling of sensitive information. Consultants are not allowed to divulge trade secrets or any information they are restricted from sharing. Everything discussed must be authorized for public dissemination and all parties on a GLG call must agree to know and follow all legal and ethical rules and restrictions (GLG was busted in 2008 for their involvement with an insider trading scandal, but they learned their lesson and enforce compliance strictly, which also protects you from being asked uncomfortable questions by clients). 

Other than that, there are few guidelines on how a call has to go. You’re the consultant, but the client sets the stage by telling you about their situations and asking questions. Your job is to listen and answer, for the length of the call. Not all calls are an hour long. In fact, technically, GLG pays you per minute, so if your call does stretch over an hour (which it often can if you keep the conversation going by adding additional insights), then you’re compensated for that extra time. 

Meanwhile, calls aren’t the only thing you can do with GLG…

GLG surveys and other projects 

GLG uses Council Members to fill out paid B2B surveys (which can take from 10 – 20 minutes for $40 – $75), attend events or small group meetings, or team up with others to tackle small, complex projects. Consultants are free to choose what they work on. Some only want to do calls; others are happy to do surveys, get out of the house to attend events, or collaborate with others. For those seeking a bit more work, GLG also offers their clients interim and longer-term placements. 

Is GLG a scam or are they legit? 

GLG is a legitimate, global enterprise with almost a million paid Council Member consultants. They thoroughly vet the consultants in their network to ensure their clients receive exceptional service in exchange for the high fees they’re shelling out. 

GLG is one of the oldest and certainly largest players in the expert network sector! They have physical offices in major cities worldwide, thousands of employees, and almost a million consultants on tap. You could be one of them!

How much should I charge, and how much can I earn at GLG? 

GLG claims to have paid out $1 billion to their Council Members to-date. How can you get your share? By going online, building your profile, and setting your GLG consulting rate. According to the GLG customer service representative we contacted, the best way to get started is to build your profile featuring “a high-level summary of your background, experience, and skillset in the Biography section.” 

After that, users can work on their Work History section and list detailed descriptions of their work history. Once registration is complete, that’s when GLG’s rate tool appears. This is where you can set a GLG consulting rate that you feel is sufficiently competitive yet fairly compensates you for your knowledge. 

Be warned, GLG associates may try to negotiate your rate down. Do your research on what other Council Members are charging for similar services, then compare against other networks’ going rates. For example, a GLG consulting rate of $300 an hour might run $500 at another company, for a conversation with the same client.  

Benefits of working as a GLG consultant

GLG not only pays for 1:1 phone calls, surveys, and projects, but Council Members can professionally benefit from the exposure to so many business execs and fellow consultants, which is invaluable if you use it as a learning opportunity. Another benefit is access to GLG Insight’s library of high-quality research articles, which can help inform your work with clients as well as potentially your own full-time endeavors. Council Members occasionally get to contribute to these pieces, which can lend additional credibility to your profile (which, in turn, always helps justify a rate hike!).

Some firms provide varying forms of free published research as a perk to their consultants; it’s usually pretty high quality (and in some cases, you can publish your own for exposure.)  

One of GLG’s biggest selling points is its sheer size, because they have so many projects available. They operate in the Big Leagues of the expert network industry, scoping projects for companies both large and small. One of their bragging points is that they hand-select and recruit 200+ new experts a day. There aren’t many businesses that can say that. And because they’ve been around for so long, they’ve worked out most of the kinks and streamlined their process so it’s straightforward to find work on their trusted, compliance-oriented platform. 

Conclusion 

If consulting with GLG sounds like the perfect solution to make some extra money on the side from the comfort of your own home (or from some tropical beach with a mojito in your hand), you’re right! 

Click here to register as a GLG Council Member and start receiving project opportunities.

Guidepoint Global Advisors Review

Receive a paid consulting request from Guidepoint and wondering if it’s a legitimate opportunity and what to expect? Our Guidepoint review will help you learn about the expert network consulting process, where to set your hourly rate, and how to land more projects with one of the largest firms in the industry.

What is Guidepoint? 

guidepoint global

Labelled as the “experts at finding expertise,” Guidepoint Global Advisors is a world leader in the burgeoning expert network industry. Alongside top firms like GLG and AlphaSights, Guidepoint operates on an international scale that significantly expanded after its 2015 acquisition of the German-based company Innosquared. With 80,000 advisors holding expertise in 150+ different industries, this is the company that businesses come to when they need to glean actionable insights from outside professionals! 

Founded in 2003 by chemist Albert Sebag under the name Clinical Advisors, the company initially focused on the healthcare industry before expanding into other sectors. Rebranding as Guidepoint Global (and later simply Guidepoint), the New York-based business quickly opened branches worldwide, including in New Jersey, Connecticut, San Francisco, Boston, London, Düsseldorf, Athens, Dubai, Singapore, Shanghai, Hong Kong, Seoul, and Tokyo. Guidepoint connects business clients in a wide range of industries to advisors who can offer business insights via direct, private phone consultations or through surveys that provide information to drive decision-making. 

Click here to create your advisor profile and start consulting with Guidepoint.

Expert Networks – a rapidly growing $2 billion industry

Expert networks comprise a rapidly growing and highly profitable industry that’s approaching $2 billion in annual revenue, yet few people know that it exists!  Businesses demand a high level of discretion when seeking help from outsiders since they don’t want to give away clues about their strategies or problems. But expert networks have existed for decades, flourishing and gaining more exposure with the rise of the Internet. 

Their business model is simple. An expert network identifies areas where businesses could use knowledge-based support; then, it sources applicable subject matter experts. Next, from its talent pool it draws suitable consultants to connect to its business clients’ projects. These expert advisors charge a set fee to advise clients on their respective issues. Meanwhile, in exchange for arranging the consultations, the expert network company charges a markup to the advisor’s consulting fees. 

Who uses expert networks? Mainly investors or corporate management consultants looking for extra guidance to do their jobs. Why do these individuals need such counsel? Because, if you think about it, a single business decision can impact a company’s trajectory for years. In a worst-case scenario, a wrong move could lead to bankruptcy, but a savvy move at the right time could potentially launch earnings into the stratosphere. Either way, it’s well worth the investment for clients to utilize outside experts’ services, even if a call runs into the hundreds or thousands of dollars per hour! 

What should you expect on a Guidepoint consulting call?

Guidepoint Global linkedin invitation
Guidepoint heavily recruits new consultants via LinkedIn

Do advisors really make hundreds of dollars or more just for a phone call? Yes, many do. As mentioned, Guidepoint’s primary service is a “direct, private conversation between a client and an appropriate subject matter expert.” So if you’re selected to join their network, what would a phone call be like for such an expert network project? Calls usually go one of three ways:

Deep dive — The client might be an investor in need of a “deep dive” that provides intel on a given company’s potential for growth or the negative consequences of problems it could be facing. 

Industry overview — Companies often solicit expert opinions on the bigger picture, so they can gain a broad overview of an industry’s landscape before making any crucial decisions. 

Consulting with consultants — Many companies maintain in-house consultants or they work with agencies, but there is always room for additional insights for targeted issues that need resolution. Consultants often reach out to chat with subject matter experts who have no skin in the game and thus can offer objective guidance. 

Keep in mind, all calls are confidential and must comply with strict legal and ethical standards related to such discussions. For example, an advisor cannot divulge protected insider information, nor can customers ask for such non-releasable data. You can learn what’s permissible to discuss or not on Guidepoint’s FAQ page. To learn more about the types of consult calls you might be asked to do, check out our Ultimate Expert Network Guide, which covers the main types of calls in greater detail! 

Do I qualify as a subject matter expert? 

What does it take to qualify as a subject matter expert? There’s no hard answer to that question! If you worked for a specific company or within a particular industry for several years, you probably gained a certain level of knowledge and expertise that others might be willing to pay for. But then again, that would make many of us “experts,” right? Yes, it would! 

Guidepoint serves clients in an extensive range of sectors, so they need an equal variety of experts to advise those clients. They vet every applicant, keeping note of specialized skills and roles from the applicant’s background. Then, when a client submits a project, Guidepoint draws up a pool of potential advisors from their applicable pool and lets the client decide who to try. The point is, let them decide if you are “expert” enough. 

If you’re worried about “imposter syndrome,” don’t! It might seem odd at first to be getting paid just to talk on the phone, but people just like you do it every day, raking in a nice side income.  You know a lot more than you think you do…and certainly a lot more than a client who just started diving into this topic a week ago. There are so many things that are rote to you in your day job that simply blow clients’ minds.

Remember, hardly any clients are operators. They’re investors or management consultants who don’t really know how things are done and are parachuting in to quickly get the real scoop from people who deal with the topic they are researching day-in and day-out!

A good rule of thumb is that if you could give a quality 30 minute presentation about something, you’re probably qualified to consult as an expert on that topic.

How do I set my Guidepoint consulting rates?

Guidepoint hourly consulting rates vary widely, based upon the expert’s specialty and level of experience as well as supply and demand for the project. Professionals who are early in their career will generally be slotted at $100 – $200 per hour, while mid-career professionals at the Vice President level or higher can often command $400 – $700 per hour. Elite level experts, such as C-level executives at major companies, specialized physicians or former government officials can achieve hourly rates of $1,000 or more!

Your rate can impact how often you are selected for projects, as Guidepoint associates tend be highly focused on managing profit margin. For projects where a large number of qualified experts is easy to find, such as administrators of popular collaboration software, you’re less likely to be selected with a high Guidepoint hourly rate. However, for projects where there are few qualified experts, such as former marketing executives at a company that recently had an IPO, there are few eligible experts and you have good latitude to name your price.

Remember, Guidepoint’s clients aren’t “bargain hunting!” They’re coming to Guidepoint because they need precious insights and are willing to pay a premium for them. It’s a logical return on investment if the information they learn informs a better decision that could save or make them money. 

Guidepoint also offers a high volume of paid industry surveys, which generally take 10 – 20 minutes to complete and pay between $40 – $80.

Read more on our strategies for setting your expert network consulting rate.

What are the downsides to consulting for Guidepoint?  

Are there honestly any downsides to earning hundreds of dollars an hour for a phone call? Not many! But of course, the most obvious is that this is a competitive business. Guidepoint’s network is already packed with highly qualified advisors (~800,000 and growing) working in over 190 countries. Some of them get a lot more work than others. 

Consulting for Guidepoint (or any expert network) isn’t a regular job with guaranteed hours. You put in your application and hope it matches with clients’ project needs. If it does, you won’t be the only one that matches with it, so you’ll have to spend 5 – 10 minutes to submit a proposal or answer a few screening questions. 

It can be frustrating if your proposals aren’t getting replies, but consultants with the most success are the ones who adapt and keep trying. Yes, it’s sometimes a case of “feast or famine,” so don’t quit your day job! You might go months without a bite, then suddenly find yourself hit with a handful of gigs close together, especially if you have experience in an unexpectedly hot industry or company. 

When it comes to Guidepoint’s reviews by current and former advisors, opinions are all over the place. Many reviews on Glassdoor lambast the company as a “scam,” while others offer rave reviews. It could be a matter of some workers not landing enough projects, even if they are getting matched and submitting proposals. 

Meanwhile, some consultants love it, even though they wish there were more work. 

How can I win more Guidepoint Global consulting projects?

If there is a magic formula to winning projects, it’s something like this: Qualification + Persuasiveness = Work. 

If you aren’t qualified for a particular project, don’t apply and you can avoid disappointment. If you are qualified but cannot convince them, you might need to work on your writing skills to get more projects!

Most of Guidepoint’s business comes from the following sectors: 

  • Consumer Goods and Services
  • Energy, Industrials, Basic Materials
  • Financial and Business Services
  • Healthcare
  • Legal and Regulatory
  • Tech, Media, and Telecom

When Guidepoint vets and accepts new candidates, you enter a talent pool. When clients submit projects, Guidepoint staff search around in the pool to find relevant qualified candidates to suggest. If you’re suggested, a client might scan your information, or you may get a chance to answer a few questions as they screen for the most suitable advisor. 

Having an optimized, keyword-enriched profile will make you stand out if they peek at that. Providing thoughtful, value-added responses to screeners will help you seal the deal. It takes a bit of work upfront to get chosen, but consider it a return on investment. The more legwork you do to stand out from the crowd, the more you up your odds. 

Over time, as you get picked up more frequently, you’ll establish your positive reputation on their platform. That credibility will, in turn, lead to more work! That’s why expert networks are sometimes described as “feast or famine.” Once you get some momentum, it’s easier to keep it going.    

Guidepoint’s Advisors page lists further information on how it sources and matches experts to clients in over 150 countries. With a 90%+ client retention rate, they’re very careful to keep customers satisfied! If you land a few projects, but then suddenly the lines go cold, it could mean that even though you’re matching with clients, you aren’t giving them everything they need, and it’s impacting your feedback. You must make customer service a top priority and treat your consulting as a tiny business. And, of course, you have to be providing value during the calls. The better your reviews, the more likely you are to keep getting gigs! 

What types of consulting projects does Guidepoint take on? 

Guidepoint offers more than just phone consults; they can provide teleconference meetings for broader insight delivery, as well as conduct surveys, offer data products, or even legal services. But calls are what they’re often known for, so let’s explore those a bit more before moving onto the broader service catalog.  

Phone Consultations

Guidepoint works with consulting firms, corporations, hedge funds, professional services, private equity firms, and law firms, connecting them with professional advisors for calls that may last an hour or more. Every client request is unique, but they generally fall within one of the three main types we talked about earlier, i.e., company deep dives, industry overviews, or consultations with other consultants. 

There are strict rules in place to avoid legal or ethical breaches. You can read more about the conservative compliance guidelines on the Guidepoint Compliance and FAQ pages. For example, Guidepoint instructs advisors to decline any invitation to consult concerning their current employer. However, if there is no confidentiality agreement in place, advisors could discuss suppliers or customers of their current employer.  

Clients will steer the conversation, but you as the consultant are legally obligated to comply with all of Guidepoint’s rules regarding information disclosure (and don’t worry, they’ll make sure you are fully aware of the rules and you’ll sign your concurrence before starting!). Indeed, advisors must end consults that violate compliance rules, and will be compensated for the entire scheduled time if that ever happens. 

Besides staying within the boundaries of these rules, you should answer questions to the best of your ability. If the call goes longer than an hour, so be it. You’ll get compensated per minute, so try to keep the knowledge flowing! 

Other Client Services 

Guidepoint utilizes analyst teams to offer their branded Insights services through client teleconferences, live roundtable events, or group meetings timed with conferences or tradeshows. Other offerings include surveys, polls, “Qsight” data products, and legal solutions. Most of these are not typically areas where contracted advisors will play a role; however, once you get on board, who knows what you might be tagged for once you’ve established a name for yourself with the platform!

Is Guidepoint Global Advisors legit or is this a scam? 

Even though their reviews are occasionally less than stellar, Guidepoint is a legitimate business with offices around the globe and roughly 3,250 current clients, of which 200+ are hedge funds, 100+ are private equity firms, and 100+ are public companies. 

Guidepoint vets applicants to ensure high-quality talent is joining their network and adding value to customers. Applicants must complete a training tutorial and agree to a list of Conservative Rules before talking to clients. They also suggest a review of their Summary of Key Rules and Terms and Conditions. 

Once subject matter experts are screened and trained, they’re eligible for Guidepoint to start matching them up with potential client projects! There is zero promise of work, and applicants should set expectations accordingly. As we’ve seen above in the reviews, naturally consultants get frustrated and might leave negative reviews if they aren’t snagging gigs. But keep in mind, that is probably just those reviewers venting. It’s not evidence of Guidepoint being a “scam.” It is a legitimate entity that has created a competitive free market environment where eligible consultants can potentially thrive if they have applicable knowledge and experience and know how to convey that fact to potential clients.

Conclusion 

If earning hundreds of dollars to talk with customers on the phone seems like something you’d like to try, we think Guidepoint is an excellent place to start! They describe exactly what they’re looking for on their advisor welcome page: “Guidepoint Advisors is an exclusive network of academic and industry professionals who consult with business decision-makers and leading investors around the world. Guidepoint Advisors enjoys a reputation for excellence. We are actively seeking the most qualified practitioners and thought leaders to join our network.” 

If that describes you, head over and fill out your application. You’ll never know how much you can earn unless you try!

Click here to create your advisor profile and start consulting with Guidepoint.