Frequently asked questions for advisors 2018-07-07T19:46:06+00:00

Frequently asked questions

What does DeepBench do?

We connect those who have complex business questions to advisors like yourself who can provide insights. We pay you at whatever hourly rate you set, and charge a premium to our clients.

DeepBench’s clients are generally leading investment and consulting firms. DeepBench also caters to corporate clients ranging from large enterprises to small start-ups.

How do clients use DeepBench?

Clients approach DeepBench to identify advisors to help them with their most critical business problems. They seek to gather expert insights, to validate hypotheses, and to make informed decisions for strategic initiatives.

Often, clients are looking to learn nuances within an industry where they lack expertise in an efficient and effective manner.

How do consultations work?

All DeepBench clients and projects submitted are pre-screened by the DeepBench team. You have he option to apply to projects posted on our Project Portal – or more often than not – a member of our team will reach out to you directly.

If all parties agree that there is a fit, DeepBench will connect you with our client.

Depending on the client’s preference, either DeepBench will act as a concierge for logistics, or we will connect you with the client directly.

Consultations typically take one of two forms: (1) 30 – 60 minute phone call with the client or (2) survey or written feedback to questions. The approximate length and format of a consultation will be specified in advance.

Is there any pre-work or preparation required prior to a consultation?

Other than a few screening questions to qualify our advisors for the consultation, no preparation is required prior.

By nature, consultations are intellectual discussions where the client is looking for your unique insights. Clients are generally not looking for advisors to produce any work or output, unless specified in advance.

What questions will I be asked during a consultation?

When DeepBench presents consultation opportunities to our advisors, we will provide a brief description of the scope of the research being conducted. A good way to anticipate the line of questioning is to review the screening questions that are provided.

For compliance, both clients and advisors are expressly prohibited from asking or discussing confidential and or sensitive materials and topics. Content of consultations should pertain solely to information accessible through public means. These stipulations are protected and upheld by DeepBench’s Terms and Conditions for both Advisors and clients.

How much should I charge per hour?

It really depends on you.

Beyond the monetary compensation, our advisors generally find the experience enjoyable. It is an opportunity to share your knowledge and with someone from a different background hoping to learn from your unique perspectives.

A good rule of thumb is to charge ~3-4x your average hourly wage if you are working full-time. As another point of reference – in general, our advisors charge around $200 – $300 / hour.

Why do some clients wish to remain anonymous?

Some clients want anonymity because publicizing their name would have an adverse impact on something that they are working on.

For example, it could be an investment firm looking at at M&A deal. Or it could be a large enterprise looking to conduct a major strategic shift. Or it could be a consulting firm trying to restructure a business that might result in layoffs.

Can I reject a consultation request?

Definitely. You are under no obligation to accept any consultation request.

How do I get paid, and how does DeepBench make its money?

As mentioned, you can set your own hourly rate.

We charge commissions to cover compliance, scheduling, and other logistical costs. We pass on this surcharge directly to our client – and we are very transparent about our Client Pricing.

One major reason that DeepBench charges a premium is that we will occasionally arbitrate disagreements between advisors and clients. Sometimes we will refund the customer their payment and pay the advisor out of our own pocket.

We charge higher premiums to cover higher level of services required to meet certain client needs. But not to worry, no matter who our client is, you still get paid the rate that you set – and we do our best to ensure that you enjoy the same experience.

Do I have to deal with taxes?

We will only request a Form 1099 (US tax payers) if you make more than $600 or more / calendar year with us.

If I sign up, will I be spammed by irrelevant / uninteresting requests?

All projects and clients are vetted by the DeepBench team. We will only send you tailored requests that are relevant to you. Typically, we will not send advisors more than 3 project inquiries / month.

What are my legal obligations?

  1. We have contracts in place with our clients that prohibit them from engaging with you outside of our system.
  2. During consultations with anyone on our system, you should not reveal anything sensitive or confidential, especially anything that can lead to insider trading or other illegal activities.
  3. We ask you to abide under any agreements (i.e. employment agreements, severance agreements) that you may have signed that would prohibit you from advising people through our system.

More information can be found here.

What if I wish to enter into a long-term engagement or full-time employment with a client I meet through DeepBench?

We have contracts in place with our clients that prohibit them from engaging with you outside of our system.

If clients wish to engage with you for full-time employment, they are obligated to pay DeepBench an industry-standard headhunter fee. (There is no cost to you as the advisor / potential hire)