Third Bridge Review 2022 - HuginX

Third Bridge

Add to compare
Legit?
SKU: third-bridge Category: Tag:

Third Bridge Review

Did someone from Third Bridge get in touch with you? In this review, we will discuss the pros and cons of consulting with Third Bridge, one of the leading expert networks. We will also give you some inside tips for how to land the best paying consulting gigs.

reviewer 3

Sophie Fischer – Our Expert: 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.

An overview of Third Bridge

Third Bridge is an innovative primary research firm that facilitates knowledge sharing on markets, companies and products with the help of thousands of subject matter experts around the world. In this way, Third Bridge gathers and distils market data, providing its clients with a competitive edge.

Third Bridge offers clients immediate access to crucial information, delivering intelligence that provides a complete and unbiased view of the company, product or market. Sourced from the most reliable sources – executives and industry practitioners with front-line experience – the research equips clients to monitor trends, understand risks and spot opportunities. Leading investors and businesses choose Third Bridge because of the quality of the insights and the access to real-time information.

Third Bridge Meeting

Third Bridge has grown rapidly since its inception in 2007. The company is now considered as a top player in the expert networks industry together with GLG, AlphaSights and Guidepoint. With several international offices and 1,000+ employees, they span three continents and cover an impressive range of verticals.

Is Third Bridge legit?

Yes, Third Bridge is a legitimate business which pays its consultants on time. They have physical offices in locations such as London and New York and employ more than a thousand staff. Third Bridge rigorously vets all consultants within their network to ensure that their customers receive top-quality service for the premium fees they charge. Third Bridge is among the longest-running and biggest firms in the expert network sector.

How does Third Bridge make money?

You may have been doubtful if you’ve ever received an expert request from a network such as Third Bridge. It might sound like a fraud; However, professional networks are in high demand and pay handsomely for those with valuable information about their industry. They offer hundreds of dollars for an hour to impart your expertise over a one-hour call with their clients. The invitation to join the Third Bridge network could be the key to getting a well-paid extra income and spending a minimum of time.

Third Bridge and other expert networks make money using your subject matter experience. They’re well-paid middlemen and link firms with consultants in their own “community,” aka “expert network.” Why do corporations engage consultants? Because a single critical decision can cost businesses millions of dollars, and the cost of a few thousand dollars in consulting fees is nothing compared to the cost of hiring consultants.

third bridge review

Expert networks such as Third Bridge can add massive value to consultancies and investment companies. For this reason, Third Bridge and more than 200 networks earn nearly $2 billion in revenue annually. These networks function as go-betweens between the experts and the companies that need them. Managers and investors require direct advice from those in the trenches and can offer advice before making an investment or deciding the direction they want to follow. Third Bridge clients wish the “real tale” from insiders like you!

Third Bridge makes a substantial markup in exchange: A mid-level consultant’s rate could be around $200/hour. However, Third Bridge commonly charges clients up to $1,000 to facilitate dialogues with experts from the relevant industry who can give a complete overview on the subject required. So, we can see the logic behind LinkedIn invitations that promise the prospect of making thousands of dollars in a year. Although these proposals might appear too good to be true, they are obtainable for those suitable to participate in such projects. Expert networks like Third Bridge manage more than 1 million high-paying consultation calls annually.

Steps to sign up as an expert with Third Bridge

If you haven’t been contacted on LinkedIn yet, you can go to their website and apply to become a network expert member.

  1. Register: with your basic details on their website.
  2. Submit resume: Upload your CV and provide your professional history.
  3. Set your rate: Set your ideal hourly consulting rate.

If you already have a resume and an hourly consulting rate in mind, signing up with Third Bridge is a speedy process. Once you have completed the three steps above, you must wait for your first project invitation.

If Third Bridge selects you to participate in a project, you’ll receive an invitation for pre-screening. Time is of the essence, and they will frequently try to hunt down specialists as fast as possible to line up a set of alternatives for their clients.

third bridge consultant

Steps to start earning money once you’re signed up

  1. Project invitation: Be quick to answer the invitation you will receive via email, text message, or phone.
  2. Pre-screening: Deliver good answers to the pre-screening questions
  3. Compliance: Take part in the compliance training and answer the related questions.
  4. Rate: Confirm the hourly consulting rate you will charge.
  5. Timeslot: Submit a few different options in terms of availability.
  6. Confirmation: When you’re good to go, you’ll receive a final confirmation of the time of the meeting.

What can you expect in terms of questions during a Third Bridge consultation call?

Many clients pay more than 1,000 dollars per hour to attain information from professionals like you. So, what can an expert contribute to an hour-long client call? In essence, three things:

  1. Company deep dive: Into a specific topic or company
  2. Industry overview: A high-level overview of an industry segment
  3. Recent event analysis: Focus on current events, such as the effect of a big merger.

1. Company Deep Dive

There are many use cases for clients wanting a company deep dive. A typical illustration is an investor who wants to understand more about a business before making decisions. During the company deep-dive, the consultant might be asked to give input such as:

  • Figures
  • Management knowledge
  • Views on customers’ opinions about a service or product
  • Other information that isn’t available in reports

2. Industry Overview

The industry overview can be very comprehensive. In most cases, a business speaks with various consultants to create an overall picture of the industry, its clients, and its future. This sort of call is often from investors at an early evaluation stage. Subjects discussed during the industry overview call might include:

  • Anticipated industry growth-rates
  • The effect of the latest trends
  • Segmentation of verticals
  • Movers & shakers within the industry

3. Recent Event Analysis

The third type of call is from firms that want to understand the impact of recent events such as the pandemic, a current conflict, or a big merger. This information can be important for investors examining how the competitive landscape transforms over time. Typical topics you’ll be asked about include:

  • The effect on specific products and services
  • Changes in consumer demand
  • Increased competition and price compression
  • Short- and long-term changes in industry growth rates

A key benefit of working for an expert network is that you can hang up the phone once a consultancy call has ended without any follow-ups. The firm has received what they’re looking for, and you have no more commitments besides submitting the invoice. You’ll get your consultancy fee paid, and everyone will be happy. It can’t get much more straightforward than this.

third bridge call

Am I qualified to work for Third Bridge?

After discovering that expert networks provide legitimate well-paying assignments, many are reluctant to accept the value of their expertise. This is the crucial question: “Why would someone spend so much money speaking to me?” Many experts encounter a fleeting feeling of self-doubt, or perhaps a sense of “imposter syndrome”, but it vanishes fast. When new consultants receive positive feedback from clients who’ve profited from the consultation, they realise the value they offer to their clients.

How do you determine whether you’re qualified? Has a large firm employed you? or in a specific sector for an extended period? Have you trained or mentored someone in the past? If yes, you will likely be capable of sharing your knowledge as a Third Bridge consultant! Review the primary type of calls: 1) Company deep-dive, 2) Industry overview, and 3) Recent events analysis.

Remember that most firms are rocketing into an entirely new field and are enthusiastic about understanding how things work. Often, the routine judgments you’ve been making for years are the ones they’re most eager to know more about. How you allocate your budget, the factors contributing to pricing decisions, and which items you plan to spend less or more on will benefit clients. An excellent rule of thumb is that if you can give a 30-minute presentation on a topic, then you’re likely a good candidate for consulting on this subject matter for Third Bridge.

What should be my Third Bridge hourly consulting rate?

The initial stages of your expert career can often be charged between $75 and $150 per hour, whereas senior experts typically make between $200 and $300 per hour. Some experts have been noted to demand $5,000 per hour, but it’s unclear what share of them are booked at that price.

It’s worth noting that Third Bridge pays per minute, which means that the hourly rate you pay is just an average; you’ll receive half the hourly rate for a 30-minute call. However, if you go over one hour, the meter will continue to tick. Unlike many survey sites, expert networks like Third Bridge pay very quickly after the consultation ends. Always through a cash transfer to your bank account or a prepaid visa- or master card.

Beware, Third Bridge associates might try to negotiate your rates lower. Research the rates other network members charge for similar services. Then, look at other networks’ rates. For instance, a Third Bridge consulting fee of $300 per hour could be set at $500 by another company meeting with the same client. You’ll typically identify the same jobs if you’re a member of several expert networks.

third bridge review

Any downsides to consulting with Third Bridge?

Working as an advisor for Third Bridge isn’t always perfect. More highly qualified contenders get their eyes up for expert networks, meaning more experts contend for the same job. Each company has their own set of procedures, but if you’re positioned well, Third Bridge may send you a few project invitations weekly.

Answering invitations takes between 5 and 10 minutes. You’re likely only to be invited for about a quarter or a third of invites. And expect periods where you get a lot more “no thank you” responses than “yes, Please!” This could be slightly demotivating for those starting their work as an advisor.

Actual time vs paid time you are consulting

At first glance, the hourly rate consulting with Third Bridge can seem well-paid. However, keep in mind the extra time spent on additional “administrative” tasks that you don’t get paid for. Additional tasks include:

  • Pre-screening questions: Answering these questions can often be quite detailed and take around 10 minutes. And there’s no guarantee you’ll qualify.
  • Compliance: Conducting compliance training and -questions can be tedious.
  • Providing professional experience: Keeping your resume up to date can take time.
  • Payment: Setting up your payment options and submitting your invoice is streamlined but not fully automated.
  • Preparing for the call: Finding a quiet spot, logging on a couple of minutes beforehand and creating a buffer in your calendar take time and effort.

Your net hourly rate taking into account admin tasks will be considerably lower than the billable rate. We recommend using a time-tracking app to check how much time you spend calculating your actual earnings per hour working with an expert network.

While this intricate process might seem overly complicated, it’s essential to remember that Third Bridge is one of the companies that have streamlined its operations the most.

Intense calls 

Remember that participating in an expert network call can be exhausting. The call will feel much more intense than an average company conference call. While the tone of the conversation is friendly, you’ll have to tackle one hour of open-ended questions on complex subjects. The person leading the call on the client side is usually an associate or consultant eager to impress the more senior staff, silently listening in on the conference. Also, remember that the client is paying north of $1000 per hour for your time and wants value from the exchange. 

Volatile workload

From an expert perspective, it would be best to have a regular stream of project invitations, but invitations will fluctuate wildly. Especially during significant industry changes, such as when a large company is up for sale or in the aftermath of a substantial merger, you’ll see a surge of invitations from expert networks.

Isn’t Third Bridge’s markup excessive? Why not just cut the middleman?

Expert Networks’ markup might seem excessive. How come Third Bridge can charge clients 4X a standard hourly consultant rate? It’s important to remember how sensitive the knowledge of a subject matter expert can be. It’s a delicate balance to decide what’s confidential information vs personal opinions based on publicly available information. 

When a client like Bain buys an expert service from ThirdBridge, they get peace of mind that consultants have been through compliance training, vetted and certified. In this way, Bain substantially reduces the internal workload and legal risk compared to operating its own network of experts. 

Third Bridge Reviews and feedback

As one of the top players in the expert network industry, Third Bridge receives plenty of reviews. 

One of the biggest criticisms of Third Bridge is the lack of transparency when it comes to rates being prorated by the minute:

“Was recruited to offer expertise on an industry for one of their clients. I was urged to push my schedule to accommodate a time-sensitive need, and moved my schedule to have an hour available for this. for $300, ok…

when the client chose to show up late and finish early, the company decided to pay me less than they had committed. #fail #unethical”

“Clearly inform the prospect consultant of the rules of engagement and that they will only get paid for the minutes vs. the hour you require.”

All major expert networks actually pay by the minute, and even if you have booked a timeslot for a whole hour, you’ll only get paid the exact minutes you’ve been on the call.

Positive reviews of Third Bridge include comments about well-matched projects:

“Pros: Ability to choose consulting projects best suited to the background.”

And many reviewers are favourable to the model they are using:

“The business model is solid and very much needed in today’s investing environment. Great job.”

The Expert Call

Third Bridge’s clients typically book hourly slots to discuss operational and strategic challenges, get market feedback, and test concepts. This is a massive benefit for you as a consultant! They want to know your thoughts and solutions as a subject matter expert, so they seek you out. It also means that you can make appointments at times that are suitable for you. You do not need to prepare anything, and there’s no follow-up.

Most calls are enjoyable conversations, and both parties learn something from the conversation, which is an added benefit. Another benefit is being recognised and regarded as an expert in your field. It’s a position you’ve put in a lot of effort and time to attain. Now is the perfect time to reap the benefits.

Compliance training and sensitive information

When providing consulting services to expert networks, it’s essential to know how to manage sensitive information. Consultants cannot share trade secrets or confidential information obtained through current or former employers. The statement discussed on the call must be authorised to be released to the public. 

All participants in a Third Bridge phone call must agree to be aware of and follow all ethical and legal rules and limitations. As part of becoming an approved network member, you’ll go through compliance training, and you can always reach out to Third Bridge’ member service if you are in doubt about what can be shared.

compliance training

Beyond that, there are no guidelines on how a conversation should proceed. You’re the expert; however, the client is the one who sets the tone by sharing their situation or asking them questions. Your task is to listen and respond to the duration of the conversation. Most calls are an hour long; technically speaking, Third Bridge pays you per minute. You’ll be compensated for that extra time when a call is extended beyond an hour (which is often the case when you continue the conversation by adding more information).

Other earning opportunities and Third Bridge surveys

Third Bridge employs network members to take part in paid B2B surveys (which could take anywhere from 10 to 20 minutes for between $40 and $75) and attend events or meetings in small groups or teams with other people to tackle complex, small projects. Consultants can choose which projects they will work on. Some are only interested in calls, while others prefer to conduct surveys, leave the house for events, or collaborate with other consultants. If you’re looking for a little extra work, Third Bridge provides their customers with temporary and long-term assignments.

How is my data shared?

Third Bridge is in the business of reselling your knowledge and information as a provider of insights. It is important to remember that much of the information you provide as a network expert will be shared with Third Bridge’s clients. This includes information such as your professional history, your answers to pre-screening questions and the answers you provide in surveys and during consulting calls.

personal data protection

What about my personal data?

Third Bridge will do all it can to protect your personal data, such as your name and contact details, and it will share it only in specific cases. Check their privacy policy if you’d like to know more about which cases your personal data can be shared.

Also, note that your personal should never be shared or sold for marketing purposes by 3rd parties. However, you may be contacted by Third Bridge if there’s a specific consulting opportunity which requires contact details to be shared. In this case, you’ll be asked to opt-in to share your personal data for each opportunity in line with regional privacy regulations such as GDPR and CCPA.

Disclaimer: Please note that this is not a complete and accurate description of Third Bridge’s data handling. We highly recommend checking Third Bridge’s updated privacy policy when signing up.

What is a “single-blinded basis” consultancy call?

Most expert networks, including Third Bridge, will, as a rule, run their 1:1 consultation calls on a single-blinded basis. This means that the advisor will not know whom they are consulting. On the other hand, the client will have access to information about the advisor provided by the facilitator – in this case, the expert network Third Bridge. This setup’s main benefit is protecting the client regarding sensitive situations, such as M&A activities. Also, it makes it difficult for the advisor and client to “cut the middleman” and follow up without the expert network continuing to facilitate the contact.

Summary

Third Bridge is one of the top players in the Expert Networks industry, and if you’re looking for a dependable company to offer your consulting services to, this is a great choice. You should expect to be paid industry-standard rates in line with other professional firms like GLG and AlphaSights. 

Third Bridge’s staff is efficient and pleasant to deal with, and most of the time, they will contact you over the phone to go through the screening questions. Like most other networks, your billable consultation time will be prorated by the minute, but most calls will be very close to the hour as scheduled.

How we review gigs

Disclosure: While HuginX is editorially independent, we may earn commissions on sign-up links.

×

Our Approach

Our Values

We built HuginX around our core principles of openness, honesty and transparency. Your trust is of the utmost importance to us, which is why we’ll always be straight-up about how we review sites.

When it comes to running our website, we want to be entirely upfront about how we operate, how we make money, and how we keep the site a free resource for our millions of visitors.

We don’t accept payment to provide positive reviews, and providers will never have a say in how we choose the best sites. Our aim is to put you, the reader, first and foremost at all times. 

A list of practices we never engage in:

  1. We will never accept money to review a product
  2. We will never accept money to change a product review
  3. We will never accept money to turn a blind eye to an issue or flaw
  4. We will never accept money to bias our research or investigations
Our Apprach

 

Features: Third Bridge

What can I earn?
Paid Gigs

, ,

Incentive Level
Redemption Threshold
Cash Incentives
Who should consider joining?
Business Professionals
Executives
How do I get started?
Currently Recruiting?
Browser Support
App Support
Contact Methods
What company is behind this?
Company

Founded

2007

Country

UK

City (HQ)

London

HuginX
Logo
Compare panel features
  • Total (0)
Compare
0
Ninja Silhouette 9 hours ago

Joe Doe in London, England purchased a

Joe Doe in London?

Joe Doe in London, England purchased a

Joe Doe in London?

Joe Doe in London, England purchased a

Joe Doe in London?

Joe Doe in London, England purchased a