Toptal is a leading talent network for freelance corporate finance consultants specializing in startup funding, pricing strategy, financial modeling, and other strategic projects for businesses of any size. Only the top 3% of financial experts make the cut to work with Toptal clients, so you can be sure you are working with the highest caliber of talent. Toptal is a trustworthy platform for sourcing corporate finance consultants to perform a wide array of services such as investment management; financial analysis and planning; market analysis; financial goal setting; tax planning; risk management; and advice on how to decrease costs, increase revenue, or build financial resilience.
Guide to Hiring Freelance Corporate Finance Consultants
What Are Corporate Finance Consultants?
Corporate finance consultants are professionals who offer financial advice to corporations. They work to improve capital efficiency, boost revenue, and increase shareholder value. They often work in a firm's finance department, and they may offer their services on a freelance basis or through third-party consulting entities. Corporate finance consultants help businesses with tax planning and equip them for various market conditions using products and plans.
A typical financial advisor has at least a bachelor’s degree in finance, accounting, or economics, and the majority go on to earn an MBA or other post-graduate degree. This person is given the mandate to put a financial plan into place that helps with investment management, tax planning, and a healthy financial life for the company.
There are different types of freelance corporate finance consultants, each specializing in a different field of finance. They may work in:
Financial planning and analysis (FP&A)
Mergers and acquisitions
How Do I Hire a Corporate Finance Consultant?
Corporate finance consultants, especially those who offer their services on a freelance hourly or fee basis, are in high demand. Companies of all sizes are constantly seeking to increase their revenue, decrease financial losses, and make sound investments. This is why business owners from so many companies turn to hiring platforms.
Some online platforms allow you to find a top-grade expert within 24 to 48 hours. Other sites, such as job boards, allow you to hire a freelancer when you are ready. Depending on your needs, a job board may be a better option if you are willing to take your time to find the right match. Sites that offer a faster turnaround time may be better if you need someone to immediately start on your project. These sites typically match you with the best candidate for the job.
Why Hire a Corporate Finance Consultant for Your Company?
You may be wondering if hiring a corporate finance consultant is worth the investment. A corporate finance consultant can help your business in a myriad of ways, including tax planning, understanding how to approach fluctuating market conditions, and developing sound financial plans.
These professionals offer a wide range of services. A competent corporate finance consultant can help you:
Determine your company’s financial goals and how you can reach them
Understand the current financial market and how to make wise decisions
Increase revenue and keep costs down
Advise you on making wise long-term investments
Raise funds for your company or startup
Manage risks and avoid financial pitfalls
Weather financially difficult times
Your corporate finance consultant's advice can help you expand your company and turn things around if you are experiencing rough times. They can also develop certain products and financial plans to ensure savings and a better financial outlook for the company. Many financial advisors have experience in financial modeling, corporate finance, and accounting, equipping them to evaluate your company’s full financial profile.
If you’re the founder of a startup or a decision maker for a small business, you’ve likely already encountered the vast amount of information available regarding business finance practices. While it's smart to develop foundational financial awareness, there may come a time when you need additional assistance. For example, you may need extra financial guidance about the specifics of investment management, tax planning, financial instruments, or financial markets.
You could potentially do your own research, but do you really have time? If you are like most business owners or managers, you have your own tasks you need to attend to. You will also need to consider tax and local and federal legislation when making your financial choices. A corporate financial professional can help you do all this and free up your time to attend to other issues.
Should You Hire a Full-Time, Part-Time, or Freelance Corporate Finance Consultant?
You can hire a financial advisor full-time, part-time, or at an hourly rate. Full-time roles typically are in-house, with corporate finance consultants providing their services to a single company, often for several years. They usually earn a yearly salary or are paid hourly. Those who work hourly may only provide their services for a set number of hours.
A part-time financial advisor can perform the same tasks as those who work full-time, but on a smaller scale requiring fewer hours. These individuals may balance working for two or more companies simultaneously.
Hiring a freelancer to work for your company can offer many benefits. It can be in your financial interest to hire a freelancer instead of a full-time consultant because it will cost less in the long run. Employing a salaried, full-time professional can be disadvantageous if you don’t need their services all the time.
You can save money by hiring a freelancer who works only when you need them. An hourly rate is cost-efficient. You only have to pay when they work, and you don’t have to provide benefits such as health insurance or paid time off. In addition, working with freelance experts allows you to find individuals with the specific, in-depth knowledge and skills required to tackle a particular problem, as well as the flexibility to scale up as issues arise and scale down as needed.
What Skills To Look for When Hiring Corporate Finance Consultants
When hiring a freelance corporate finance consultant, you should make sure they possess certain skills and abilities. If you hire a consultant who doesn’t have the necessary skills, they could compromise the integrity of your entire project. Ideally, a potential advisor should have knowledge of various financial instruments, products, situations, market conditions, tax planning, and financial planning.
Here are key skills you should look for when hiring:
Knowledge of finance, economics, and accounting
Ability to analyze market trends
Capable of positively interacting with other financial professionals
Prompt responses to calls and emails
Bachelor’s, master’s, or postgraduate degree in a related field
History of successful projects
Basic computer skills (ability to operate computers, emails, Microsoft Office, etc.)
Ability to utilize financial modeling software
If a freelancer has all of the skills, traits, and abilities listed above, they are a good hire. Remember, soft skills are just as important as hard skills. You don’t want to work with someone who isn’t a good fit for your team.
How Much Does It Cost To Hire Corporate Finance Consultants?
Of course, hiring a corporate finance consultant will cost you money. Many freelancers charge by the hour, but some have a set rate for specific services. Some that charge for specific services are said to charge fee-based or fee-only services. Depending on your specific requirements and budget, a corporate finance consultant can be hired at an hourly rate or as a fee-only advisor.
The cost of a corporate finance consultant will depend on a variety of factors. For example, more experienced consultants tend to charge more, as do those with higher levels of education. Those with specialized knowledge across products or specific situations may also be more expensive.
A good financial advisor will consider the size of your business, the number of assets under management, and the complexity and length of your project when deciding how much to charge you. Most experienced financial consultants charge between $200 and $400 per hour for their services.
How To Find a Great Freelance Corporate Finance Consultant
Before hiring a freelance corporate finance consultant, take a look at our list of top sites. All of these sites make hiring corporate finance consultants relatively simple, and they can save you a great deal of time. When deciding what website to choose, consider the following:
Are the consultants vetted? What are the requirements for a freelancer to offer their services on the site? Sites that vet their consultants are more reliable, since their experts have to undergo a weeding-out process. You should also check for credentials such as degrees and certifications.
How convenient is the site? Does the site really make your life or the hiring process easier? If a site does not simplify the hiring process, you may want to avoid it. Many of the sites listed here allow you to simply post your job or project. After posting, you will be contacted directly by qualified freelancers.
How much does it cost to join the website? As you know, some websites charge a fee to post a job or find a freelancer. If a website’s fees are too high, you may want to consider another site that fits within your budget.
By taking into account the points above, you can choose a website that will help you find the best person for your project.
Selecting a Freelance Corporate Finance Consultant
If you’re planning to post your position on a job board and select candidates yourself, consider the following questions as you’re wading through applications and emails:
What is your budget?
How long will you need this person on your team?
What is their turnaround time on assignments?
How much experience and education do they have?
Do they fit in with your current financial department?
Alternatively, several talent networks and staffing agencies on our list, such as Toptal, Consultport, and Robert Half, use matchers or recruiting specialists to understand your needs and offer you a vetted shortlist of candidates to choose from or even handle the full hiring process for you. This saves you time and money and allows you to leverage their knowledge of the candidates and the field to find the best fit for your business.
Hire Corporate Finance Consultants Now
If you are ready to hire freelance corporate finance consultants, give the websites listed above a try or check out Toptal’s #1-ranked platform for finding corporate finance consultants to kick-start your selection process.