Highly qualified experts are capitalizing on expanded opportunities as demand for expert witnesses increases by 35% across multiple fields of expertise.
— Gerry H. Goldsholle
SAUSALITO, CALIFORNIA, UNITED STATES, August 10, 2022 /EINPresswire.com/ — Expert witness work has bounced back from the pandemic, and the demand for experts is higher than ever! That was evident today as ExpertPages.com released the findings from its comprehensive 2022 Expert Witness Fees & Practices Survey.
At the onset of the pandemic in 2020, many courts closed, deferring trials and proceedings in civil cases and causing the demand for experts to drop suddenly. Those adverse effects have been dramatically reversed as demand and compensation for highly qualified and credentialed experts have reached their highest level in the Survey’s 24-year history as the litigation backlog is now starting to clear.
The nearly 400 experts reported fees that averaged $408 per hour, an increase of $23 (5.9%) over 2020’s average hourly rate of $385. The experts reported a 16% increase overall in the average number of new assignments accepted, with some expert fields reporting gains of 35% or more.
Economics experts at $555 per hour were the highest hourly earners. Experts in Computers, Internet & Technology earned the highest average earnings per assignment at $56,931, followed by Design & Manufacturing experts at $56,250 per case.
Physicians are the most sought-after experts. Retired and semi-retired doctors often limit their expert work to Medical Case Reviews, doing large numbers of (50 or more) cases per year with relatively low per matter fees (in the $1,000 range). On the other extreme are the active, highly specialized surgeons who limit their expert work to one or two cases per year, where the physician’s fee for each case sometimes reaches over $100,000.
“Expert witness work remains a highly lucrative part-time activity for most experts,” said Gerry H. Goldsholle, Founder and CEO of Advice Company, ExpertPages’ parent. “Contrary to popular impressions, most expert work involves reviewing files, preparing analyses, and writing reports, rather than testifying at trial. As investigations and cases become increasingly complex, lawyers and insurers retain experts more often and earlier. Courts and arbitrators rigorously require experts to support their conclusions. That is driving far greater demand and meaningfully higher fees for qualified experts. With the pandemic largely behind us, courts fully reopening, and normal trial calendars moving cases forward, demand for experts is skyrocketing,” Goldsholle added.
“The ExpertPages 2022 Survey Report also illustrates the dramatic changes in the professional growth of Expert Witnesses,” Goldsholle continued, “Serving as an expert has always been rewarding work. When we launched ExpertPages.com 27 years ago, expert witnessing was a cottage industry in which a relatively small circle of experts primarily generated assignments by word of mouth. It’s come a long way since then. Several experts reported annualized earnings of over $1 million from their expert witness assignments, and some of the highest earners were new to expert witness work.”
The 9-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 (Link). The full Survey Report will be released shortly and made available for purchase on Amazon.com
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About the Survey
The ExpertPages Survey of Expert Witnesses Fees & Practices has been tracking expert witnesses and litigation consultants since 1998. This year’s 25+ question Survey, conducted by an independent research firm, is based on the confidential responses of more than 350 experts in numerous fields throughout North America.
The original and premier online directory of expert witnesses and litigation consultants since 1995, ExpertPages links attorneys, law firms, and legal professionals to thousands of leading experts throughout North America. In addition to finding an impressive list of highly-credentialed experts, the site features free, comprehensive articles written on a variety of legal topics, timely blogs, and hands-on advice on working with attorneys.
About Advice Company
Founded by a former federal trial attorney and insurance executive in San Francisco at the dawn of the modern internet in 1991, Advice Company, a Public Benefit Corporation, has been widely lauded by the national press for creating some of the most iconic legal, insurance, home improvement, and senior living content on the internet. In addition to www.ExpertPages.com, its current portfolio includes www.AttorneyPages.com and www.SeniorCareAdvice.com.
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