The cost of an Interim manager can vary depending on the size of the task at hand, all experienced Interim Managers work on a day rate range and this can be a source of concern or friction for hiring managers.
To assist potential hirers of Interim Managers we have created this pricing schedule to show you what range Interim Managers typically work between, however there will always be exceptions to any rule when you are dealing with people.
The day rate range is important although what’s equally important is how an Interim manager prioritises when considering an assignment as this directly influences their cost per day;
Very experienced Interim Managers tend to prioritise in the following order;
- Can I add value quickly and deliver the clients desired outcomes
- Do I / will the business buy into what the hiring manager is trying to achieve
- Will this be a great case study once completed
- Is the pay suitable for the assignment
- Pay mechanism (Outside IR35 / FTC)
- Likely duration and location
It may surprise some that the day rate and pay mechanism are towards the bottom of the list, we have found that this is different from contractors or temporary workers who tend to prioritise pay, duration and location.
Our assignments are either focussed on programme delivery or director level appointments but with one thing in common, the client that we are working for is going through either; change, transformation, a transaction, restructure, turnaround or distress.
Typical Interim manager pay rates (Not including an agency fee and hired on an Outside of IR35 basis). You can expect to add an agency fee margin in the region of 23%, this is the average agency fee for Interim management in the UK and is validated by the industry body (IIM or IMA).
Interim Transformation Director £750 – £2250
Interim Programme Director £750 – £2000
Interim Project Office Manager £475 – £1500
Interim Programme Manager £475 – £1250
Interim Project Manager £550 – £950
Interim Change Director £750 – £1250
Interim Change Manager £600 – £900
Interim Programme Planner £475 – £800
Contract business analyst £450 – £675
Interim CRO – Chief restructuring Officer – £2500 – £5000
Interim Turnaround Director £1250 – £2500
Interim Group Exec level Director – CEO, CFO
Small £750 – £1250
Medium £1000 – £2000
Large £1250 – £5000
Interim Managing Director £1250 – £4500
Interim Group Function Director £1000 – £4000
Interim Functional Leader £500 – £1250
Interim Finance Director £900 – £2500
Interim Business Director- Divisional £800 – £2000
Interim Commercial Director £800 – £2000
Interim Operations Director £800 – £2000