What is a consultancy fee?

A consultancy fee is the charge that a consultant or consulting firm imposes for their professional services, expertise, and advice provided to clients. This fee can be structured in various ways, including hourly rates, project-based fees, or retainer agreements. The amount typically reflects the consultant's experience, the complexity of the work, and the value delivered to the client. Consultancy fees can vary widely depending on the industry and the specific services offered.