LNC Salaries

  1. 1
    Hello everyone!

    So, I have breifly skimmed over some of the previous threads but nothing answering this question jumped out at me, but I am sure I am missing it somewhere. Anyway, I am a newly graduated nurse, but am looking into the bright future trying to see what options lie ahead of me. A LNC seems like one viable option (after I put in time for hospital experience), and is especially intriguing seeing the hourly rate that many consultants charge.

    However, all of my info comes from google searches, and I dont know how accurate those really are. I mean, $100/hr is great, but if you can only get ~5hrs of paid time a week then you cannot live off of that (not to mention unpaid time marketing, etc). So I was wondering if some of you with experience could tell me on average how many hours do you end up working a week, how much of that is unpaid and how much is paid, and what are some real hourly rates that get filled? Would an attorney really pay me $100/hr (or more) to help in a case?

    In the end, what honest expectations in regards to yearly incomce can I anticipate to see if I succeed as a LNC?

    I am not trying to sound like it is all about the money, I just havent found a straight answer to this yet. So far this site has been a gold mine of information! Thanks!

    BuckOwe
    lindarn likes this.
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  5. 1
    Quote from BuckOwe
    Hello everyone!

    So, I have breifly skimmed over some of the previous threads but nothing answering this question jumped out at me, but I am sure I am missing it somewhere. Anyway, I am a newly graduated nurse, but am looking into the bright future trying to see what options lie ahead of me. A LNC seems like one viable option (after I put in time for hospital experience), and is especially intriguing seeing the hourly rate that many consultants charge.

    However, all of my info comes from google searches, and I dont know how accurate those really are. I mean, $100/hr is great, but if you can only get ~5hrs of paid time a week then you cannot live off of that (not to mention unpaid time marketing, etc). So I was wondering if some of you with experience could tell me on average how many hours do you end up working a week, how much of that is unpaid and how much is paid, and what are some real hourly rates that get filled? Would an attorney really pay me $100/hr (or more) to help in a case?

    In the end, what honest expectations in regards to yearly incomce can I anticipate to see if I succeed as a LNC?

    I am not trying to sound like it is all about the money, I just havent found a straight answer to this yet. So far this site has been a gold mine of information! Thanks!

    BuckOwe
    Hello,

    All good questions.

    The key to success is marketing. And, marketing incessantly.

    Some LNCs work part time. Others, like me, full time. Some weeks I do not accumulate many "work" hours (hours where I charge a fee). Some weeks are filled to capacity every day with hours charged to my clients.

    Yes, attorneys will pay that $100 fee. Some balk at any fee. Some accept it w/o question. Some LNCs charge more than that; others, less.

    You can make a very good living as an LNC, but it is very hard work and that hard work is like I said; marketing constantly. LNCs can make easy over 6 figures. Others who are comfortable with far less than that. It's up to you, how motivated you are, and if you are proficient enough to "sell" to your clients, your valuable expertise as it applies to medically-related issues in litigation.

    Good luck.
    lindarn likes this.
  6. 1
    Thanks for the reply Siri, that helps.

    You (and others) say that marketing is a key to success here, and I understand that. However, have you found that it gets to a point where you develop enough relationships with enough attorneys that cases just start to come in as they need you, and less marketing is required? Or are you having to constantly remind attorneys that you exist?

    Thanks again,

    Buck
    lindarn likes this.
  7. 2
    Hi,

    I do have some attorneys where I constantly am "in their face".......reminding them to contact me.:wink2: It takes a lot of time/effort to land their business.

    But, I have cases coming in quite often from repeat clients.

    I had to take on a partner because of that and have (varying times as needed) approximately 10 sub-contractors. So, my business started to flourish after a few years and had to take a new direction.

    As for marketing in my own area, I don't do as much for I have several firms landed now. But, my business is a nation-wide business and part of my (and, my partner) focus is continued marketing. We do this via advertisements in legal journals and by exhibiting at attorney conferences/conventions as well as conducting med-legal seminars and providing CLEs for attorneys.

    Hopefully, one day I can say I need another partner and/or add more sub-contractors thus building my business to accommodate more clients.

    You always stay the course to be successful.
    txspadequeenRN and lindarn like this.


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