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Definition
An honorarium is a payment given to an individual for services rendered, typically as a token of appreciation rather than as a contractual or mandatory fee. Typically used to compensate someone that is providing their expertise on a voluntary basis.
Typical Honorarium Ranges
- Small engagements $50 to $250 - brief presentations, panel participation, etc.
- Medium engagements $250 to $1,000 - guest lectureers, workshops, half-day events.
- Large engagements $1,000 to $5,000 - Keynotes speakers, well-known experts, industry leaders, accomplished academics.
- High-profile individuals or celebrities $5,000 to $20,000 - e.g. Neil deGrasse Tyson
Factors to Consider
- Duration of Presentation or service
- Level of expertise or prominence of the individual
- Preparation time required
- Travel Requirements or expenses (often covered separately)
- Budget constraints of the hosting organization