Updated October 9, 2019; Originally published October 27, 2015
The best way to apply a monetary value to pro bono service is to determine the Fair Market Value for services provided. However, unless business professionals are working as independent consultants or through a professional services firm, they may not have access to these market rates.
Taproot Foundation, in collaboration with CECP, established the first average hourly value for pro bono service in 2009 at $120. In 2015, they updated the value to $150. And now, in 2019, the hourly value has increased to $195. The data used for the current valuation model were supplied by the 2019 Salary Guides on average starting salaries (excluding benefits, bonuses, or other incentives) for accounting and finance, administrative, technology, legal, and creative professionals produced annually by Robert Half and the Bureau of Labor Statistics. The dollar values reflect average, national hourly rates of pay, adjusted for consulting, for multiple professions across three levels of experience.
Complete and submit the form below to access the full content.