Corporate training rates: That which shall not be named
As businesses, why do we have difficulty talking about pricing?
Salespeople are taught to stay away from the pricing conversation till the bitter end, even if it’s the first or second thing on the prospect’s mind (which it always is).
It’s like a salesperson should be nervous or embarrassed to throw out their fees for fear of not being able to back it up or losing the deal. If a company is hiding their pricing or avoiding that conversation at all costs, something is up with the product.
And discussing price isn’t rude or impolite either. It’s business, not a cocktail party! “Great hors d’oeuvres. Hey, how much did you pay for that financial modelling class you took last week?”
In the corporate training world, advanced courses are expensive… as the good ones should be. Pricing (i.e. “how much will it cost me”) shouldn’t be some mystery or elusive number to obtain just because a training provider thinks it will scare off potential clients.
If a training firm provides a course whose content, materials, venue and, most importantly, instructors are top shelf, then why wouldn’t the program be priced accordingly? Pricing is commensurate with value and the phrase “you get what you pay for” is never truer than in the world of professional development.
Pricing is just one of many components when it comes to a continuing-education purchase. But it’s a big component and should be known from the outset.
To make it simple for our little world of Financial Modelling, we’ve compiled a list of training providers and their respective list prices. NB Pricing is based on:
1. Live open-enrollment courses in public venues (non-residential)
2. Courses delivered in major international cities (e.g. New York, London)
3. Course “day-rates” (i.e. 50% of a 2-day course, 25% of a 4-day course, etc.)
4. British Pound Sterling (GBP)
Without further ado, here’s a quick pricing sheet from Financial Modelling training’s industry leaders.
|Training provider||Rate per day*|
|BVCA||825 (member rate)|
|Investment Banking Group||Unpublished|
|Training the Street||800|
|Wall Street Prep||400|
|Wall St. Training||367|
*Prices and information gathered from companies’ public websites with exchange rates calculated on 23/03/15. It is impossible to provide an “exact” day-rate as most training providers deliver 2-5 day courses, but this is a very close approximation.