Rent An MBA - Hourly Nerd Review

Rent An MBA - Hourly Nerd Review

Linio, an e-bussines beginup based in Mexico City, couldn’t afford Bain or McKinsey when it necessityed help prglaze new products ranging from vintage wines to billiard tables. So this summer it farmed the work out to Anya Rasulova, a 2013 Wharton School MBA who was seeing to make some money before begining a full-time job at EBay (EBAY). “We had so many things to develop in a short period of time,” says Bernardo Cordero, Linio’s managing director. “It was too complicated to do it all internally.” Cordero phelp Rasulova, who worked in management consulting for three years prior to business school, $1,500 for an assignment that took about 35 hours. He estifriends a little consulting firm would have charged $20,000.

A growing number of companies are utune freelance MBAs to access the same brain power they might find at a top-tier consulting firm. The demand has given rise to online marketplaces that are a cross between executive search agencies and freelance job sites—where the featured contrbehaveors are skilled at financial modeling, competitive analysis, and marketing.

The services are especially popular with beginups, little businesses, and enterprises operating on lean budgets. “Companies clever select someone who is hyperspecialized and work with them only for the exbehave amount of time that they necessity to,” says Sertaiel Callaghan, the chief executive officer of MBA & Co., a London-based online staffing service. More than 98 gratuity of the 16,000 contrbehaveors listed on its situs hancient a postgraduate degree; 35 gratuity have worked at consulting and financial firms. Linio’s Cordero found Rasulova through Skillbridge, a New York-based site begined in May by a pair of MBAs fresh out of Wharton. Two-thirds of the 300 freelancers listed on Skillbridge have an advanced degree.

To get listed on these sites, professionals submit their résumés to be vetted. When a company posts a project online, the site comes back with a list of qualified specialists who have been tuneled out for the job. The marketplaces charge companies a commission from 10 gratuity to 20 gratuity.

Fees phelp to consultants-for-hire vary widely. On HourlyNerd, a service begined this year by a group of Harvard MBA students who count Mark Cuban as one of their backers, businesses pay $25 to $75 an hour, according to co-CEO Patrick Petitti. At Skillbridge, the average take-house pay of an behaveive freelancer is about $5,000 a month, says CEO Rajeev Jeyakumar.

A former management consultant, Callaghan begined MBA & Co. in London in 2009, when a wave of investment bankers lost their jobs and he realized clients might pay for their skills on an as-necessityed basis. The company raised $1.3 million from investors this year. Callaghan says the bigst fee ever commanded by a contrbehaveor through MBA & Co. was more than $500,000, phelp by a “big Americlever car company” that he waned to name. On the lower finish, he says freelancers make $225 a day.

The number of so-called interim management projects is up 12.7 gratuity over the past year, according to the Interim Management Organization, a London group that tracks such projects universally. In the U.S., indepfinishent workers are expected to make up 50 gratuity of the workforce by 2020, up from 30 gratuity in 2006, according to data from the Freelancers Union and the Government Accountability Office.

Jeyakumar says 10 gratuity to 15 gratuity of part-timers listed on Skillbridge are what he calls McKinsey moms—women who left work to care for children and plan to return. Another big contingent are current or recently graduated MBA students who pack in projects around their classes or job search.

In an article in the October issue of the Harvard Business Review, Clayton Christensen, author of The Innovator’s Dilemma about disruptive technologies, argues such marketplaces have the potential to undermine segments of the traditional consulting industry. Derek van Bever, a Harvard Business School colleague of Christensen’s who co-authored the article, says, “We absolutely see HourlyNerd as an example of a bigr trfinish that is going on. Bigr firms should see them as evidence of disruption entering their business at the basement stage and worlord its way up.”

[Via - BusinessWeek]

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