About how much should an organization be willing to pay for a guest speaker?
About how much should an organization be willing to pay to have a consultant/speaker talk to a group of their employees (~25 people)? Or does anyone know of online resources where I can find the answer to this question? The types of consultants/speakers I'm thinking of are Myers Briggs discussion leaders or someone who would give a presentation on nutrition, etc. How much for a single 1-hour session versus a series of weekly talks over 2 months? What other factors should I consider?
When hiring a speaker there are a number of factors you need to consider besides the hour they are speaking. Although it’s an hour of speaking don't be surprised if your priced at half or a full day especially if travel is involved. A seasoned speaker will have these factored into their rate. Materials maybe an optional additional cost - usually at a cost per attendee. Travel expenses may be also be additional or built into as a flat rate - but it will vary based on distance.
The intangibles that may lead to additional cost are the "expert" factors. For example, is the speaker published within the field, are they a professor or scholar on the subject, are they considered a domain expert, or are they a public figure? These are examples where the rate may be higher - basically because they are doing this instead of something they normally do at a similar rate. It’s economic utility. However, s speaker's “credentials” need to be valued by the audience to be of any value.
Finally, audience size and expected interaction can also be a price factor. Interestingly, large audiences attract a higher rate as do small groups requiring individual interaction with the speaker.
So back to your question - there is no single resource I'm aware of. However, I would do a peer assessment of pricing to see what an expect price would be for some one of a similar "expert" level.
An excellent resource for speaker-related topics is the free zine SpeakerNetNews. You'll also gain access to a huge number of professional speakers in a variety of fields, since that's the core of their subscriber base. You can subscribe and find back issues, as well as compilations on many speaking focused topics, here: http://www.speakernetnews.com
Hope this is useful. fyi, I am not affiliated with SNN in any way; just a longtime subscriber.
There are many speaker bureaus out there. They charge a premium as they take a percentage. There is also http://www.nsaspeaker.org (National Speakers Association) which is a good source. There are many more.
I would suggest you would pay for someone with credibility and experience for one hour about $4,000 - $5,000 plus travel and related expenses. The $4,000 should include conversations with you and others about the presentation and ensuring it is adjusted to your specific needs and a custom presentation. If they wrote a book you might get them to do it for less if you purchased a book for each participant.
If they charge you per participant you don't want to speak with them that is not the industry norm.
I would suggest that if you are using a consultant to conduct the Myers Briggs or some other type of activity that they should do it for their usual half day rate just as good will for you. If they are not working for you and you will use them in the very near future, within the month or two, they might only charge expenses if they are not local. Considering your location you have an untold number of local potential speakers all of whom could help and add value but buyer beware. Always ask for a list of about four or five engagements they have had for a similar experience and contact two or three without saying who you will contact. Getting the wrong person could cause you some issues. But as for price I would say max out at $4,000 and considering your location I would think you can avoid any travel expenses.
There is no set compensation for a speaker for the program you are suggesting. There is a variation in the amount speakers charge. You might find one at $500 and another at $10,000+. As a professional member of the National Speakers Association we cant talk fees unless we are talking about a specific meeting for which you are contemplating hiring me for.
Rates vary widely, including many experts who will do it for free if they believe in your mission and/or if they think they will benefit from the exposure, If the speaker is a practicing nutritionist, for example, and you select him to lead a discussion or presentation, your group is in essence endorsing this person as an industry leader, In addition, he/she most likely will gain a few new clients,
Of course, if someone is a professional speaker, and not doing it primarily to get client leads, they should be properly compensated based on their experience and name recognition.
Go to the National Speakers Association Web site. Look up the topic you want to hear about and review the speakers available to do the job. These are professionals that must meet criteria of having done paid presentations just to be members. Most of them post price ranges for your convenience. Check to see if there is a local chapter in your town and again review the possible candidates.
If you are looking for someone to do leadership or management training (your Myers -Briggs reference) you may want to also access the Institute of Management Consultants website. Again, look for a local chapter.
Some experts will speak for no fee, locally. BUT, you get what you pay for. I know folks that are not famous that get anywhere from $500 to $15,000 for an hour. Those that provide multiple presentations over a period of time are usually doing so as part of a coaching or training approach linked to consulting objectives that has a fee linked to the engagement.
In either case, share your objectives with one or more of the professionals and ask them for a fee schedule.
It depends on the speaker who they are if they are just a professional speaker. A serious speaker will want about $5,000 + travel, and if they have to get hotel and car rental you need to factor that in. That is the low price it will go up from there., I myself do management development training and use a program I developed call Emotions, Moods, Personalities & Values in the Work Place. I charge $10,000 a day for a three day training course and generally at the end of the course I get tipped, because companies are so satisfied with the information they received and learned. They could not believe some of the things that had an effect a persons work performance. If you get a celebrity speaker you may pay around $40,000 per hours for them to speak.
Questions to answer:
1. What is it that you are trying to accomplish with these presentations?
2. How will your organization benefit from these talks? (and what is that worth?)
3. Is this an interactive environment or a sit and listen event?
A great facilitator or speaker would ask you these questions before quoting you a price in order to be sure to align the presentation with your goals and have a way of measuring results.
If you're just looking to blow a budget on edutainment I would guess $400.00/hour + travel expenses (if you're bringing them in from outside your city). Usually facilitated environments require 2 hours of pre and post work for every hour in front of the room and would charge in the ballpark of $1600.00 for a half day rate.
A motivational speaker may do it for free if they can sell a book or program to the audience.
I usually find when a person is asking for a price it is because they haven't had an opportunity to speak with a professional who can ask that person the questions to uncover what you don't know that you don't know. Would that be the case here, Lindsay?
Making decisions based solely on market pricing usually leads to mediocre results in my experience. This is not because expensive is better but more because someone who truly understands their value is less likely to sell themselves short;-)
Hope this helps...and feel free to reach out with more questions.
First of all if the Guest Speaker accepts the invitation than he/she has to spend some times to prepare his speed according to the theme of the conference or meeting. He/She at-least need a day or two to prepare those notes to speak at-least 45-60 minutes minimum. Also he has to travel all the way from his/her place to the venue (it depends how far it is, still he/she has to travel). He speaks and greets people and then he/she has to drive home.
Time it out, We offer him/her a hundred dollars and that works out to ten bucks an hour - a little more than minimum wage. He/she has to pay all of the taxes on that, so now he/she is taking home between fifty and sixty dollars. Is that what we think Guest Speakers are worth whom we invite to salutation the audience?
So let’s suppose that about 25 people are there in audience and if we count $20 each for 60 minutes for that valuable speech, than the Guest Speaker deserves at-least $500 approx. for all the work he/she does.
To be honest I think it always depends on the subject and on the proposal you can come up with the person.
1. If you're talking about a one single talk, than most of the times it only requires you to pay the transportation costs.
2. If you're planning to have a session delivery during 2 months you can always negotiate the amount you would pay to the person vs the inkind things you can offer (for instances, transportation/meals).
I guess for you to have a clear idea on how much you should spend, you have t first define key things such as:
a) Why do you want to have that series of talks (to empower your employees? to showcase best case practices? to inspire and motivate them? What is the output you want the plenary to take out of it).
b) What is the type of content that would be more accurate with your purpose? (leadership empowerment, time management, life balance?)
c) Who are the people that will be good on delivering the message? (Create a potential list of people that might be able to help you)
d) What can you offer to the speakers? (What's your HR budget/ inkind offers)
e) How can your offer meet the speakers' needs? (negotiation)
I know this is super general guidelines, but I'm sure it will be useful for you to consider this as well.
Other than that, I would say that around 20 to 30€ per session (during 2 months) are OKAY values, depending on how many sessions you'd like to have.
Hope this helped you.
Lindsay: I am not sure what your end goal is, but since you mentioned Myers Briggs, if it has anything to do with assessing your employees and the manner in which they communicate or work together, I suggest you look at Birkman (http://www.birkman.com/). That said, if you were to use a firm to implement the Birkman and then review its assessment in a group setting, for 25 folks it would probably run between $20K and $37.5K which would include the assessment test and the time for the consultant to review in a group setting (plus travel).
Again, not knowing exactly what your end goal is, have you considered Webinars?
Depending upon the topic and experience level, you will find speaker prices all over the map. You are not really paying for the 1 hour -- you are paying for their years of experiences and expertise. It is the intellectual property that they are selling, as well as their ability to convey that material in an entertaining and pragmatic way.
It will also depend on the ROI for the speaker. If your group is the speaker's target client or target market, you may be able to negotiate. If you will be able to provide them with additional business such as additional training, regular sponsorship to their events, or one-on-one coaching for your employees - they often give the talk for free (with the agreement of future sales).
p.s. Most non-celebrity speakers charge between $1,000 and $5,000, plus travel, while experienced and nationally recognized speakers can have fees ranging from $5,000 up to $100,000. Typically, the earlier you begin the scheduling process the better.
Just get on the phone and talk with a few people that you are interested in bringing in.
The question should be driven by the perceived and actual value provided by the speaker.
Because topics have varying degrees of value to different companies, you'll be hard-pressed to find a simple slide-ruler style response here.
Generally, speakers call into one of two categories: entertainment and productivity improvement.
In the first, there's absolutely no ROI - it's just a function of employee happiness/satisfaction.
For the second, remember to calculate the cost of labour to have your staff attend the meeting and add it to the "ticket-price" of your speaker. That, in a nutshell, is how much "value" your company should be able to get back out of the employee's education/training/whatever.
A speaking engagement is no different than anything else you may have to hire someone for...no speaker worth their salt are going to quote you pricing here. Nor should anyone.
They would need to have a great deal more information from you in order to properly price an engagement. And sure, you can get inexpensive and you will get high fees. It all depends on YOUR goals, budget and desired outcome.
More often than not you do get what you pay for. Make sure you are able to discuss the session with the speaker prior to the session so they tailor it to your needs. There's an oversupply of guest speakers and experts so make sure you don't settle. If it's a one off session, expect to pay higher but if you want to start a relationship with the person/organisation to begin a series of engagements, you can usually make an arrangement. Look in to mindfulness, wellness and coaching. You can do all the psychometric tests online and then have an expert come in for one session to explain the groups profile - then have a team building day focussing on the results of the team profile. Wellness and nutrition - start off with someone coming in then have incentives for staff to continue with the healthy lifestyle - more often than not the wellness expert will be able to offer this online.
For a group of 25 people I would recommend you find someone willing to speak/ present for free. There are plenty of successful, and accomplished people within a community or industry who would be willing to 'give back' if they understood the purpose. If the purpose is consultative you can hire someone for $1k/ day. If travel is involved certainly paying expenses is reasonable.
Don't get me wrong, there are plenty of expensive alternatives. But amortizing the cost across 25 people makes it difficult to rationalize. If you had 100, or 500 people )large company gathering) than spending $10-25k is defendable.
In addition to what a fee would be for a speaker who just speaks and leaves, consider whether this is actually a marketing opportunity for them. If so, the fee should come way down - in fact, there might not be one. If they derive basically nothing from the event other than the money, then you'll be paying them for their time and expenses, with opportunity costs factored in. Consider other sources, too: in the case of the nutritionist, your community hospital probably offers up some sort of outreach program to do just this.
Lindsey. ...you certainly got a lot of response. Maybe...not as much help though...?
You mentioned 25 employees.That indicates to me a small company with limited budget.
So you likely want the cost to be in the hundreds.
Therefore...1. Go local. You want people within an hours drive.
2. Contact your local chamber of commerce. Ask the executive director if he/she knows anyone well versed in the topics. People active in the chamber can be a bit gregarious and can speak well.
3. Look for local businesses that offer related services and contact the owner. They are often a treasure trove of knowledge on the related topic and will be honored to speak about it. Sometimes at no cost other than some business.
It depends very much on the experience of the speaker but most importantly on his/her notoriety. If you need a speaker on nutrition I can recommend getting someone with a lot of experience in the company Herba Life. If not LinkedIn is a valuable resource where you can find a lot of skilled people.
I'm in several professional organizations that have monthly meetings and don't pay most of the speakers for dinner meetings (speaking ~1hr, free dinner). People use the opportunity to market their services. For half day or longer events we charge the attendees, subsidizing the event at the organization level by about 20% allowing us to offer a 20% discount to members, and pay costs (training materials prep, snacks, room) without spending a lot. We are in the Washington DC area so we have many local options.
Where are you? Try a local college, and chamber of commerce.