Healthy Skepticism Library item: 18197

Warning: This library includes all items relevant to health product marketing that we are aware of regardless of quality. Often we do not agree with all or part of the contents.

Publication type: news

Cooney B
Can you provide any guidelines on speaker honoraria for virtual meetings?
Ask The Experts 2010 May 18
http://medad.canon-experts.com/2010/05/guidelines-on-speaker-honoraria/

Full text:

Generally our clients at pharma and biotech companies create their own guidelines for honoraria based on Fair Market Value (FMV) criteria. We’ve observed that most companies set honoraria for virtual speaker events much lower than for local events, on the basis that the time commitment (and therefore FMV) for speakers is much lower for virtual events.

A recent survey of speaker program managers at pharma and biotech companies indicates that prevailing rates for virtual speaker honoraria are indeed much lower. A 2009 survey by Cutting Edge Information reported that honoraria for virtual events were 67% to 70% lower than honoraria for local events. This translates both into big cost savings, and the ability to use the best speakers more often per year without exceeding annual honoraria limits.