Beacon Interim Management Ltd (Principal Office), 4th Floor, Clayton House, 59 Piccadilly Manchester M1 2AQ. Reg No: 5860680
An approved supplier to the Government Procurement Service (GPS), the national procurement partner to the UK Public Sector
and an approved supplier of Interim Managers through the North West Collaborative Procurement Hub (NWCPH).
The following is an extract from information published by the Institute of Interim Management (IIM) on how to benchmark the value and price of a professional interim manager.
How to calculate a potential day rate
To calculate a likely day rate cost then as a starting point, calculate 0.75% - 0.82% of the base salary that you consider to be the equivalent salary for the seniority that you are looking for.
For example for a senior position with a base salary of £80,000 then the interim day rate range would be £600 - £655.
Interim Manager day rate fees will vary dependent on;
Comparison with Equivalent Salaried Position
The following example shows the true cost of an £80,000 base salary senior employee to a company.
Assuming 220 working days based on 260 less 25 holidays, 8 bank holidays, 7 sick days;
Interim Manager Value Proposition
When businesses consider hiring an interim manager they occasionally look to pro-rata the the cost of an equivalent permanent employee as the basis to calculate day rate. This approach works fine when clients are looking to hire an “agency temp”, however interim managers are individuals at the top of their game, they bring vast experience and expertise to a client with a value proposition delivering;
If you would like further information about Beacon Interim Management services, please contact us at our Manchester office on 0161 406 3064, or email us with a brief description of your query and one of our team will contact you directly.
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