Expert witness work is in! That was evident today as ExpertPages.com, a unit of Advice CompanyTM, released the findings from its 2019 Expert Witness Fees & Practices Survey. With litigation of all types becoming increasingly complex, the demand and compensation for qualified and credentialed expert witnesses have now reached its highest level in the Survey’s 18-year history.
More than 700 experts – surveyed for ExpertPages by independent market research firm DeBow Communications, Ltd. – reported earnings that averaged $367 an hour for their expert work, an increase of 7.6% from ExpertPages’ 2016 survey.
Top earners, in terms of hourly rates, were Pharmacology & Toxicology experts at $513 per hour and Physicians at $489 per hour. Most experts in those fields devoted less than one day per week (18% of their professional time) to litigation related activity. In terms of fees earned per assignment, experts in the Design & Manufacturing field topped the chart at $49,700 followed by Computer, Internet & Technology experts at $44,400.
“Expert witness work is a part-time activity for more than 80% of all experts, and it is highly lucrative,” said Gerry H. Goldsholle, Founder & CEO of Advice Company and the former Chief Brokerage Executive of MetLife. A noted insurance expert himself, he added “Most expert work involves preparing analyses and reports, rather than testifying in court. As the stakes are becoming higher, lawyers and insurers are retaining experts more often, and bringing them in sooner, as courts are increasingly rigorous about requiring experts to support their conclusions. All that is driving greater demand and higher fees for qualified experts.”
The 8-page Top Line Report of the Survey – including a demographic “Portrait” of a typical expert witness – is available for free download in PDF format at http://connect.expertpages.com/press1/
The full Survey Report ($150) is available for purchase on Amazon.com.
About the Advice Company
Advice Company – a Public Benefit Corporation – has been an innovative leader in providing information and services over the Internet since 1995. Over 20 million people visit the Company’s premier websites, such as the leading consumer legal website www.FreeAdvice.com, each year for outstanding information and advice, to hire lawyers, experts, and professionals, and to deal with senior care issues. Advice Company is headquartered in Sausalito, California, with affiliates in Arizona, Florida, Illinois, and New York.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190718005145/en/