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The differences between advisor and consultants and business advisors can be seen in a few details. Each job has different responsibilities and duties. Additionally, a business advisor has an average salary of $96,469, which is higher than the $80,661 average annual salary of an advisor and consultant.
The top three skills for an advisor and consultant include mutual funds, fixed income and client relationships. The most important skills for a business advisor are customer service, project management, and business operations.
| Advisor And Consultant | Business Advisor | |
| Yearly salary | $80,661 | $96,469 |
| Hourly rate | $38.78 | $46.38 |
| Growth rate | 11% | 6% |
| Number of jobs | 96,691 | 125,154 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 67% |
| Average age | 44 | 44 |
| Years of experience | 4 | - |
Advisors and consultants summarize and update the client's top management with accurate information relating to company management and finance. Besides preparing reports and investigating clients' needs, and promoting strong client relationships, advisors and consultants also offer services that result in a holistic technique to solve the current and future issues. They help the organization to have the expertise and specific skills it lacks. Moreover, advisors and consultants guide the organization on diagnosing various problems instead of waiting for the advisors' and consultants' assessments.
Business Advisors are consultants responsible for implementing business strategies to improve financial and operational efficiency. They are involved in preparing financial budgets, recommending a change in the operational process, identifying new business opportunities, evaluating a marketing strategy, and reviewing supplier and labor contracts. Business advisors also help to manage risk by performing risk analysis and consumer behavioral analysis. They are involved in report preparation and work to maintain open communication with different departments to implement change.
Advisor and consultants and business advisors have different pay scales, as shown below.
| Advisor And Consultant | Business Advisor | |
| Average salary | $80,661 | $96,469 |
| Salary range | Between $51,000 And $126,000 | Between $67,000 And $138,000 |
| Highest paying City | - | San Francisco, CA |
| Highest paying state | - | New Jersey |
| Best paying company | - | Amazon |
| Best paying industry | - | Technology |
There are a few differences between an advisor and consultant and a business advisor in terms of educational background:
| Advisor And Consultant | Business Advisor | |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | Northwestern University | Western Carolina University |
Here are the differences between advisor and consultants' and business advisors' demographics:
| Advisor And Consultant | Business Advisor | |
| Average age | 44 | 44 |
| Gender ratio | Male, 71.4% Female, 28.6% | Male, 63.9% Female, 36.1% |
| Race ratio | Black or African American, 8.1% Unknown, 4.5% Hispanic or Latino, 8.9% Asian, 12.2% White, 66.1% American Indian and Alaska Native, 0.2% | Black or African American, 6.4% Unknown, 4.6% Hispanic or Latino, 9.4% Asian, 8.8% White, 70.4% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 12% | 11% |