IBC operates on a cost-recovery basis, not as a profit center. Each student on a 5-7 member team may devote 10-20 hours per week on a typical 12-14 week engagement. Our student teams typically invest a minimum of 600-800 hours into each project. Our client fees equate to approximately $14 - $16 per student work hour. This is less expensive than a full-time intern and far below the rates of a commercial consultancy for, what many clients tell us, is equivalent or even superior work product and results.
Similar to traditional consultancies, our engagements are fixed fee (in addition to the direct out-of-pocket expenses), with the amount due at the conclusion of each project.
Why We Charge a Fee
Part of the University of Illinois' College of Business, IBC is a self-funded not for profit operation. Its primary mission is to provide students educational opportunities to apply their class room learning to real business problems. All funds collected support the operations of IBC, including:
- Training and support of IBC student participants
- Scholarships for the IBC Leadership Team
- Speakers and networking events
- Office administrative costs (e.g., phone, office supplies, equipment, etc.)
- Marketing activities
We continually evaluate our fee structure and funding needs to ensure we can provide the optimal educational experience for our students while best serving our clients.
Testimonials
Daniel L. Allen
Chief Investment Officer
State Universities Retirement System (SURS)
