How much do independent event planners charge per hour? Per event? What do they make in a year? How do they charge?

Pricing is one area that is hardly discussed, yet is mission-critical for a planner’s business success. The Event Leadership Institute (ELI), providers of training, education and professional development for the event industry, has released the results of its 2016 survey of 516 independent planners, in a new White Paper, with the data explained in detail in an On Demand Video Class.

Supported by over 25 charts and graphs, ELI analyzes a variety of pricing trends for independent or third party planners, or owners of event companies. Among the findings:

• The most popular pricing model, for example, is a flat fee, with 54% of respondents choosing this method.
• The most common hourly rate charged is in the $50-99 per hour range, with 40% falling into this category.
• 35% of planners accept commissions at some point from vendors, 22% from venues.
• Of those who do accept commissions, 54% never tell their clients.
• 42% of independent planners earn $50,000 or less per year.

“Probably the most concerning statistic is when we asked how much planners made per event, 14% said they didn’t know,” said ELI founder and ceo Howard Givner, who ran an event company for 20 years before starting ELI. “Not having a handle on your numbers, or not charging enough, is a sure recipe for working hard during the year only to find out you didn’t make nearly as much as you thought come tax time.”

ELI further breaks down the data based on years of experience, type of event (corporate vs. social), whether the planner works from home or an external office, and other variables.