One of the first questions that often arises is: “How much will it cost?” The price of an interim manager can vary depending on several factors, such as area of expertise, project length, location, and the manager’s level of experience. Generally, interim managers have comparable salaries to regular employees, including contributions.
Interim manager rates can be set on an hourly, daily, or monthly basis. Some managers may also charge for projects or according to agreed performance. Costs can range from several hundred to several thousand crowns per hour. However, it is important to realize that a lower price does not always mean the best value.
A qualified and experienced interim manager can provide greater benefit and more efficient results than an internal employee. This can have a positive impact on company performance and long-term sustainability.
When comparing prices of different interim managers, it is also important to consider their previous experience, achievements, and reputation. Prices may be higher for managers with a rich portfolio of successful projects and excellent references. It is therefore advisable to conduct a thorough and precise specification. Another aspect that is important to consider when evaluating the costs of an interim manager is comparison with the costs of a permanent employee. While interim manager rates may seem high at first glance, it must be taken into account that all costs associated with engagement and employment are already included in this amount.
A permanent employee who would participate in similar tasks as an interim manager would require not only basic salary and vacation, but also additional benefits and costs associated with employment. These costs include, for example, payments for social and health insurance, pension fund contributions, vacation, paid time off, training, employee benefits, company car, and others.
In the case of an interim manager, all these costs are already included in their rate. This means that the company does not have to pay additional contributions for social and health insurance, pension fund contributions, or provide other employee benefits. This can affect overall costs. An interim manager does not have paid vacation; however, they can certainly take vacation. It is just not paid. This means that if a company has an interim manager for 12 months and they take 4 weeks of vacation, the company actually pays for only 11 months. Do you see the difference?
If I were to give an example: an employee with a gross salary of 100,000 per month costs the company approximately 160-180,000 including contributions, car, vacation, computer, and other benefits. An interim in the same position will cost 160,000 + VAT, nothing more. For an employee, you also need to add potential severance pay or costs for acquiring the employee. An interim manager has only a 30-day notice period. Overall, it can be said that although interim manager rates may seem higher at first glance, their price is advantageous compared to all costs associated with a permanent employee, including vacation and contributions. When evaluating benefits and costs, however, it is essential to also consider the specific needs and goals of the company to ensure an optimal solution.
