I. Understanding Expert Networks
Expert networks are businesses that connect clients—typically investment firms, consulting companies, and corporations—with subject matter experts for short-term consultations. These engagements provide clients with specialized industry knowledge to inform their business or investment decisions.
II. The Expert Network Landscape
The networks can be grouped into subjective tiers based on project volume, rates, and platform quality.
A. Top Tier
These networks are known for providing the highest volume of opportunities and generally have established, professional operations.
GLG (Gerson Lehrman Group): The largest and oldest player. Accounts for a significant portion of the market's opportunities (estimated ~50% of volume).
Guidepoint: A major competitor to GLG, also offering substantial project flow (estimated ~25% of volume).
B. Mid Tier
These are typically US-based firms with solid platforms and respectable rates.
AlphaSights
Coleman Research
Third Bridge
NewtonX
ProSapient
Arbolus
Capvision
C. Lower Tier / Niche
This category includes non-US based networks that may offer lower rates, operate in different time zones, and sometimes have less flexible pricing models.
Dialectica (Europe-based)
Ivy Exec (Potentially miscategorized, as they are also a career platform)
D. Unique Model
Emissary.io: Operates differently from the rest. Instead of general subject matter consulting, their model focuses on connecting sales teams with experts who have insights into their former employers (e.g., navigating procurement, identifying key decision-makers). This is a sales intelligence function rather than market research.
III. Getting Started & Building Your Presence
Success in expert networks is a numbers game that requires a proactive and organized approach.
A. Registration and Profile
Register Broadly: Sign up for every network you can find. Volume is key, and opportunities are spread across all platforms.
Create a Detailed Profile: Your profile description is your primary marketing tool. Be thoughtful and specific.
Use keywords relevant to your industry, skills, and specific projects.
Quantify your experience (e.g., "Managed a $10M budget," "Led a team of 15 engineers").
Mention specific vendors, technologies, or processes you know well. For example, if your company evaluated Crowdstrike, list the competitors you analyzed (e.g., SentinelOne, Carbon Black) as part of your expertise.
B. Initial Strategy
Start with a Broad Scope: Initially, accept consultations on topics where you know "more than the average bear." This helps you build a track record.
Prioritize Volume Over Rate: When starting, focus on getting consultations done. A track record of 5-star reviews is more valuable than a high initial rate with no calls. You can increase your rate once you have consistent volume.
IV. Managing the Workflow as a Business
Treating this as a "second job" requires an efficient system to manage the high volume of daily inquiries (typically 20-30 opportunities per day).
A. Daily Triage System
Decline Irrelevant Projects Immediately: Quickly reject all opportunities where you cannot add value. Most platforms ask for a reason; select "no experience" or a similar option. This is crucial for tuning the platform's matching algorithm and reducing future irrelevant invites and follow-up emails.
Respond to Relevant Projects Quickly: Answer screening questions for relevant projects the same day. Recruiters work on tight deadlines and often prioritize fast, high-quality responders.
B. Knowledge Management 🧠
Create a Knowledge Base: Since work often comes in waves (e.g., after public news about a vendor), you will get asked the same screening questions repeatedly.
Actionable Tip: Maintain a spreadsheet or document (e.g., Google Sheets, Notion) with tabs for different recurring topics. Store your previous answers to screening questions. This allows you to copy and paste high-quality responses in seconds, drastically improving efficiency.
C. Platform Workflow Differences
Good Dashboards (Coleman, ProSapient, Guidepoint): These platforms display all project invitations on a single screen, allowing for one-click declines and a streamlined application process. You can clear your queue in ~5 minutes.
Inefficient Dashboards (GLG): GLG's interface can be time-consuming. It often loads one opportunity and one question at a time, including numerous compliance questions before the substantive ones. This can take 20+ minutes to clear daily.
No Dashboard / Email-Only (Third Bridge): Some networks rely solely on email. This requires you to keep track of what you've answered. Third Bridge, for example, may send qualifying questions in an email that links to a single text box, requiring you to reference the email while typing your answers.
V. Financial Strategy & Earning Potential 💰
Your income is a function of your rate and volume.
A. Setting and Adjusting Your Rate
Starting Rate: A rate of $250/hour is a common and reasonable starting point.
Increasing Your Rate: Nudge your rate up slowly over time. If your volume of consultations drops after an increase, hold the rate steady until it recovers.
Rate Ceiling: A practical ceiling exists around $500/hour. Above this level, many client firms require special budget approval, which can significantly reduce the number of projects you qualify for.
Rate Consistency: Keep your rate consistent across all networks. The rate is generally fixed for all calls and not negotiable on a per-project basis. You might feel underpaid for a call where you have unique insight (e.g., recent meeting with a CEO) and overpaid for an easy one (e.g., general marketing feedback).
B. Earning Progression & Potential
With a systematic approach, income can grow substantially.
Example Progression:
Year 1: $6,000 - $7,000
Year 2: ~$13,000
Year 3: ~$25,000
Year 4: ~$65,000
Year 5: ~$100,000+
This progression reflects a combination of rate increases, building a strong reputation, and expanding to more networks. Reaching this level requires significant time commitment (e.g., 2-5 calls per week).
VI. Types of Engagements
While one-hour phone calls are the most common format, other opportunities exist.
1-on-1 Phone Calls: The vast majority (90%) of the work. Usually 1 hour long. GLG is noted for prorating payments to the minute, while others may pay in full one-hour blocks.
Surveys: Very frequent (10+ per day). Payment varies widely.
Low-Tier: <$25 (often not worth the time).
Mid-Tier (GLG/Guidepoint): $35 - $50.
High-Tier (NewtonX/Coleman): $75 - $100+.
Time Commitment: Assume every survey will take at least 20 minutes, regardless of the estimate provided.
High-Value/Rare Opportunities:
In-person Events / Multi-Client Calls: Briefing a small group of investors.
Expert Witness Work: Legal consulting that pays significantly more but is very infrequent.
VII. Compliance, Ethics, and Risks ⚠️
This is the most critical aspect of participating in expert networks.
A. The Cardinal Rule: Confidential Information
NEVER share Material Non-Public Information (MNPI) or any proprietary or confidential information from your current or former employers.
Legal Implications: Sharing MNPI is illegal insider trading. It can lead to severe legal penalties and will end your professional career. All ENs have strict policies against this and require you to attest that you will not share such information before every single consultation.
B. Employer Approval & Conflicts of Interest
Check Your Employment Agreement: Your employment contract may have specific clauses regarding outside work or consulting. Violating this agreement can be grounds for termination.
Network Compliance Programs (e.g., GLG Member Programs): As your earnings increase with a network, they may require you to secure explicit approval from your current employer to continue.
GLG's Policy: GLG has been known to place a temporary hold on profiles of experts who earn over a certain threshold (e.g., $5,000) until employer approval is obtained.
The Dilemma: For many, seeking this approval from an internal compliance board is a non-starter.
Practical Strategy: If you face this issue and cannot get approval, your only option is to re-focus your efforts on the other networks that may not have such stringent requirements at lower earning thresholds.