Experfy is a platform that connects experts with clients who need their skills and knowledge. It claims to offer high-paying projects, flexible work arrangements, and opportunities to learn from other experts. But how does it really work? And is it worth joining? In this review, I will share my experience of using Experfy as an expert, and evaluate its pros and cons.
Sophie – Our Expert Network Specialist: Sophie is from Hamburg, Germany and is our specialist on Expert Networks. After several years of working as a top executive, Sophie is now an independent consultant and is signed up as a council member of several networks. When she is not helping HuginX write Expert Network reviews, she can often be found enjoying thrilling Nordic noir crime series.
What is Experfy?
Experfy is a company based in Boston, United States, that provides a platform focused on hiring and managing talent in the fields of AI, data science, and engineering. Experfy was founded in 2014 and incubated in Harvard Innovation Lab. According to SimilarWeb.com, the site receives around 50 000 visitors per month with most of its website traffic coming from the US.
Similar sites include Stream by AlphaSense and Zintro. Experfy offers a platform that enables the pipelining and hiring of external talent at speed, while career pathing, upskilling, and mentorship of internal talent. Experfy also provides a learning platform for upskilling based on industry use cases.
While Experfy’s main focus is on facilitating AI and data science expertise, they also offer consulting jobs in several other areas including:
- Big Data
- Cloud Computing
- Business Intelligence
- Software/Web Development
- UX/UI Design
- Internet of Things
- Robotic Process Automation
- Cyber Security
Is Experfy a legit expert network?
On the one hand, it’s clear that Experfy is not scamming people. The platform has a rigorous vetting process for its experts, who have to pass multiple tests and provide proof of their credentials. The platform also has a secure payment system that ensures that clients only pay for the work they are satisfied with and that experts get paid on time. Users are not asked to provide any financial information such as credit card numbers, as the platform uses third-party services like PayPal and Stripe to handle transactions.
On the other hand, Experfy has some important aspects that users should be aware of. The platform has a commission fee of 20%, which means that experts have to pay a fifth of their earnings to the platform. The platform also has a limited number of projects available, which means that experts may face competition and low demand for their skills. As a consultant, you have no guarantee that clients will be satisfied with the work, and they may ask for revisions or refunds. Also, Experfy does not provide any legal or insurance protection for its experts, who have to deal with any disputes or liabilities on their own.
In conclusion, Experfy is a legitimate platform and certainly not a scam, but it is not a perfect solution in every way either.
What’s the concept?
Signing up for the expert network Experfy is not a simple or easy process. It requires candidates to go through four rigorous steps that test their professional, behavioural and technical skills. The first step is pre-screening by the role leads, who filter out candidates who do not have the relevant experience or credentials. The second step is a behavioural interview, where candidates are asked about their motivation, leadership, communication and interpersonal skills.
The third step is a technical interview and assessment by expert SMEs, who belong to the same domain as the candidates. They may also give live assessments and coding exercises to evaluate the candidates’ technical abilities. The final step is an optional screening by the client for talent clouds, which only 3% of candidates reach. The client may re-confirm the assessment by Experfy and check the company fit of the candidates.
While this process may ensure high quality and standards for the expert network, it may also discourage or exclude some potential candidates who may have valuable skills or insights but do not meet the strict criteria or expectations of Experfy or the clients.
Can I do consulting for Experfy when employed?
Signing up for Experfy can be a tempting way to earn some extra money on a side hustle while being employed. However, before you do so, you should be aware of the potential risks and challenges that come with sharing your expertise online. One of the most important considerations is compliance with your employer’s policies and regulations regarding non-public and confidential information. You should not disclose any information that is proprietary, sensitive, or restricted to your employer or its clients, partners, or competitors.
Doing so could expose you to legal liability, damage your reputation, or jeopardize your employment. Therefore, before you sign up for an expert portal, you should review your employment contract, code of conduct, and any other relevant documents to understand what information you can and cannot share. You should also consult with your manager or HR department if you have any doubts or questions. Additionally, you should be careful about the type of questions and projects you accept on the expert portal.
You should avoid any topics that are related to your current or past work, or that could create a conflict of interest with your employer or its stakeholders. You should also decline any requests that ask you to provide confidential information, perform unethical or illegal actions, or violate any professional standards or norms. By following these guidelines, you can ensure that you are complying with your obligations as an employee while leveraging your expertise on a side hustle.
How much can I earn with Experfy?
According to Experfy’s website, the average hourly rate for experts is $150, which is lower than the typical expert network sites such as GLG and AlphaSights which would be around $250. Moreover, cash compensation is not guaranteed, as it depends on the client’s satisfaction and feedback. This means that experts may not receive the full amount of their expected earnings, or even worse, they may not get paid at all if the client is unhappy with their work.
On the other hand, one positive aspect of Experfy is that it offers longer-term consulting opportunities than other expert networks which are mainly based on a one-hour consultation call. This means that experts can work on more complex and challenging projects that require more time and expertise. This can also lead to more stable and consistent income for the experts, as well as more lasting and fruitful relationships with the clients.
Hourly consulting rate examples for AI and data science consultants
Hourly consulting rates for subject matter experts within AI and data science vary depending on the level of seniority and expertise. Here are some examples:
- Seniority: The more experience and credentials a consultant has, the higher their rate will be. For example, a junior consultant with less than 3 years of experience might charge $100 per hour, while a senior consultant with more than 10 years of experience might charge $200 per hour.
- Expertise: The more specialized and in-demand a consultant’s skills are, the higher their rate will be. For example, a generalist data analyst might charge $150 per hour, while a specialist in natural language processing or computer vision might charge $250 per hour.
- Scope: The more complex and challenging the project is, the higher the rate will be. For example, a simple data cleaning and visualization task might cost $150 per hour, while a complex machine learning model development and deployment task might cost $300 per hour.
These are just examples and not definitive rates. The best way to determine the appropriate rate for a specific project is to research the market, compare similar projects and consultants, and negotiate with the client.
Is consulting through a freelance portal the right thing for you?
Many freelancers and consultants face a dilemma when they decide to join an online platform such as Experfy that connects them with a lot of potential clients. On one hand, such platforms offer a variety of opportunities and projects that they can bid on and work on. On the other hand, they also expose them to a constant evaluation and feedback system that can affect their reputation and income. A consultant’s success on these platforms depends largely on the ratings and reviews they receive from their clients, which may not always be fair or accurate.
Before signing up you should consider that you might need to deal with unrealistic expectations, unreasonable demands, or even dishonest clients who try to exploit them. A bad rating or a negative review can have serious consequences for a consultant’s future prospects and earnings. Experfy is not better or worse than other similar platforms, but consultants should weigh the benefits and risks of joining and decide whether it’s worth the stress and pressure of being constantly judged and rated.
Summary Pros and Cons
Let’s conclude with the pros and cons of joining Experfy.
On the positive side, Experfy can help you expand your network and reach new clients who are looking for your specific skills and knowledge. You can browse hundreds of projects posted by reputable companies and organizations, and apply to those that match your criteria. You can also set your own hourly or fixed rates, and negotiate the terms and scope of the project with the client directly. This gives you more control and flexibility over your income and workload.
Another benefit of Experfy is that it allows you to learn from other experts and join a community of like-minded professionals. You can access courses, webinars, podcasts, blogs, and other resources created by experts in various domains. You can also interact with other experts through forums, groups, chats, and reviews. This can help you enhance your skills, stay updated on the latest trends and developments, and get feedback and support from your peers.
Finally, Experfy can help you earn recognition and a reputation for your work. You can showcase your portfolio, credentials, ratings, and reviews on your profile, and build trust and credibility with potential clients. You can also earn badges, certificates, and awards for completing projects, courses, and challenges. These can help you stand out from the crowd and demonstrate your value and expertise.
On the negative side, Experfy also has some drawbacks that you should be aware of before signing up. One of them is the fierce competition to win projects and bids. Experfy has thousands of experts competing for a limited number of projects. You may have to lower your rates, offer discounts, or bid aggressively to secure a project. You may also have to spend a lot of time browsing, applying, and following up on projects, which can reduce your billable hours. You
Another potential drawback of Experfy is that it takes a significant commission on each project. Experfy charges a 20% service fee on every project that you complete through the platform. This means you will receive only 80% of the agreed amount from the client. Working through a portal like this can reduce your profit margin, however, but keep in mind that it can also save you time promoting and pitching your services. At the end of the day, a key focus as a consultant is to maximize your billing time.
If you’re new to consulting you also need to think about compliance and potential legal risks. As an independent contractor, you are responsible for complying with the tax laws, regulations, contracts, and policies of the countries where you and your clients operate. You are also liable for any disputes, claims, or damages that may arise from your work. Experfy does not provide any legal advice or protection for its experts. You may have to hire a lawyer or an accountant to handle these issues.
In conclusion, Experfy has more pros than cons for experts who want to showcase their consulting expertise to new clients, access projects aligned with their expertise and interests, set their own rates and earn recognition and reputation for their work. However, they should also be prepared to face some challenges such as fierce competition to win projects and bids, a significant commission on each project and time spent bidding for new projects.
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Disclosure: While HuginX is editorially independent, we may earn commissions on sign-up links.