A not-quite-BB ibank (think PiperJ, William Blair, etc.) has asked me to write a thematic research book (30-50pgs) on a technology area in which I have some familiarity. I would then need to go out and be on roadshows to support the book, meeting with fund managers in multiple international cities. I would be a contractor, working for the bank on this piece. I am grateful for the opportunity, as it's a sector I'm quite excite about. The bank has asked me to propose how much I want to be paid for this. It's quite difficult for me to price it, as I've never done such work before.
Does anyone here have any views on how much banks typically pay for such thematic research pieces? I'm not famous, so it's not like some famous technologist coming in and bringing the gospel about AI or cybersecurity. So I don't think I can throw about giant figures.
The other way I could approach it is according to how much I value my time. I guesstimate it will take me 6 weeks to research and write the piece, and then a couple weeks on roadshows. My salary is around $300k historically (I am between jobs) so that would be the equivalent of $50k for 2 months' work.
Am I way outside of the normative range? Does anyone have some guidance for this unusual bit of consulting?
NoEquityResearch TequityResearch EquityResearchHardo @equityresearchhopeful"
I suggest 2x-3x your regular “salary” for contract work. So in your case 100-150k plus travel expenses.
You’re on the hook for all the overhead and taxes...
I could ask. I'm not sure if they'd get sticker shock though. $100k for 2 months' work seems like a lot to me. But then again, maybe you are correct.
Can't say that I've seen too many of these deals as it's very bespoke, but maybe a good way to think about it is the high end being your previous salary and the low end, the cost it would take the firm to try and make the report themselves (price of an equity research associate for 3 weeks, plus 2 weeks travel for a more seasoned analyst).
Also, another thing to consider is that this will look really good on your resume while being in-between jobs. So if it's not on par with your usual comp, that's ok. It may help land the next gig. You can use the report itself as marketing along with your resume. When I was planning to leave a previous ER position, one of the last things that I did was write a very in-depth 50-page industry piece. I put a lot of effort into it as I knew that I would use it to market myself.
Thanks NER. For sure it's a very attractive engagement from a resume-building standpoint, and I'm grateful for the opportunity. I just don't know how to price it. I don't want to give the bank sticker-shock, and jeopardize the gig, and at the same time I don't want to leave $ on the table. And it's not like I can go to WSO or GlassDoor and check the stats on base pay at X-level, because this is so bespoke. Even my time is a guesstimate. Maybe it will take longer than 2 months. Unsure.
yeah, 100k seems about right to me..
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