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.

Business Advisor Responsibilities

Here are examples of responsibilities from real business advisor resumes representing typical tasks they are likely to perform in their roles.

  • Manage financial aspects of business including account management, accounts payable and receivable, payroll, inventory management.
  • Contribute to sales volumes/revenue by developing new markets and achieving sales targets within an assign territory.
  • Manage training and presentation collateral on SharePoint system, resulting in recycling of documentation for consistent messaging across enterprise.
  • Lead workforce planning including succession planning, leadership development and diversity creating growth opportunities increasing quality, performance and employee retention.
  • Support the reengineering of the SME development area.
  • Compile comprehensive business proposals by collaborating with subject matter experts (SME).
  • Improve performance of the reports by modifying the design and thereby changing the SQL generate.
  • Establish and maintain all aspects of banking, A/P, A/R, cash management and insurance for start-up company.
  • Implement retention efforts to revisit, maintain and build previous relationships by developing a new CRM database and sales road-map.
  • Maintain SharePoint site for communicating and updating project documents and status reports.
Business Advisor Traits
Leadership skills directly correlate with a person's ability to lead others toward success or an accomplishment.
Management skills directly correlate with a person's ability to communicate and lead others while being able to solve problems..
Problem-solving skills is the way that one is able to effectively solve a problem in a timely manner.

Business Advisor Job Description

Between the years 2018 and 2028, business advisor jobs are expected to undergo a growth rate described as "as fast as average" at 6%, according to the Bureau of Labor Statistics. So if the thought "should I become a business advisor?" Has crossed your mind, maybe you should take the growth rate into account. In addition, the number of business advisor opportunities that are projected to become available by 2028 is 150,600.

Business advisors average about $40.03 an hour, which makes the business advisor annual salary $83,257. Additionally, business advisors are known to earn anywhere from $54,000 to $128,000 a year. This means that the top-earning business advisors make $74,000 more than the lowest earning ones.

It's hard work to become a business advisor, but even the most dedicated employees consider switching careers from time to time. Whether you're interested in a more challenging position or just looking for a fresh start, we've compiled extensive information on becoming a specialist-small business, business development consultant, senior business consultant, and business development executive.

Business Advisor Jobs You Might Like

Business Advisor Resume Examples

Business Advisor Skills and Personality Traits

We calculated that 9% of Business Advisors are proficient in Action Plans, Customer Service, and Business Operations. They’re also known for soft skills such as Leadership skills, Management skills, and Problem-solving skills.

We break down the percentage of Business Advisors that have these skills listed on their resume here:

  • Action Plans, 9%

    Minimized exposure to inventory loss charges by collaborating with local teams and creating and executing corrective action plans.

  • Customer Service, 8%

    Provided solutions for irate customers regarding equipment or service delays and by rendering business decisions resulting in superior customer service.

  • Business Operations, 7%

    Enhanced business operations and efficiency through automation of human resources, comprehensive business finances, compliance, and business/tax reporting.

  • Project Management, 7%

    Developed and trained Production Excellence Pillar leads and Asset Implementation Coordinators on project management for better execution.

  • Information Technology, 6%

    Participated in Information Technology group to ensure competitive edge and position for next generation products

  • Healthcare, 6%

    Support both new and established businesses in the healthcare administration, education and technology management and property management fields.

"action plans," "customer service," and "business operations" aren't the only skills we found business advisors list on their resumes. In fact, there's a whole list of business advisor responsibilities that we found, including:

  • Leadership skills can be considered to be the most important personality trait for a business advisor to have. According to a business advisor resume, "top executives must be able to lead an organization successfully by coordinating policies, people, and resources." Business advisors are able to use leadership skills in the following example we gathered from a resume: "project manager project management leadership for health care risk management and infection control clinical quality software development supporting custom case management. "
  • Another trait important for fulfilling business advisor duties is management skills. According to a business advisor resume, "top executives must shape and direct the operations of an organization." Here's an example of how business advisors are able to utilize management skills: "accomplished sales goals determined through consultation with management. ""
  • Problem-solving skills is also an important skill for business advisors to have. This example of how business advisors use this skill comes from a business advisor resume, "top executives need to identify and resolve issues within an organization" Read this excerpt from a resume to understand how vital it is to their everyday roles and responsibilities, "discover customers wants and needs for sprint services and present a solution to fulfill those needs while also exceeding sales goals. "
  • A thorough review of lots of resumes revealed to us that "time-management skills" is important to completing business advisor responsibilities. This resume example shows just one way business advisors use this skill: "top executives do many tasks at the same time, typically under their own direction, to ensure that their work gets done and that they meet their goals." Here's an example of how this skill is used from a resume that represents typical business advisor tasks: "managed a portfolio of 20m and ensured annual reviews and restructure reports were completed when necessary and within deadlines. "
  • Another common skill for a business advisor to be able to utilize is "communication skills." Top executives must be able to communicate clearly and persuasively a business advisor demonstrated the need for this skill by putting this on their resume: "established corporate financial planning website as mechanism to assist with communication and coordination of activities of various business units. "
  • See the full list of business advisor skills.

    We've found that 66.8% of business advisors have earned a bachelor's degree. Furthermore, 16.7% earned their master's degrees before becoming a business advisor. While it's true that most business advisors have a college degree, it's generally possible to become one with only a high school degree. In fact, one out of every nine business advisors did not spend the extra money to attend college.

    Those business advisors who do attend college, typically earn either a business degree or a accounting degree. Less commonly earned degrees for business advisors include a finance degree or a marketing degree.

    When you're ready to become a business advisor, you might wonder which companies hire business advisors. According to our research through business advisor resumes, business advisors are mostly hired by USAA, Cigna, and The PNC Financial Services Group. Now is a good time to apply as USAA has 81 business advisors job openings, and there are 42 at Cigna and 25 at The PNC Financial Services Group.

    If you're interested in companies where business advisors make the most money, you'll want to apply for positions at Shell Energy North America, Dell, and Broadcom. We found that at Shell Energy North America, the average business advisor salary is $124,490. Whereas at Dell, business advisors earn roughly $123,395. And at Broadcom, they make an average salary of $122,401.

    View more details on business advisor salaries across the United States.

    Some other companies you might be interested in as a business advisor include IBM, NetSuite, and Ernst & Young. These three companies were found to hire the most business advisors from the top 100 U.S. educational institutions.

    For the most part, business advisors make their living in the technology and finance industries. Business advisors tend to make the most in the technology industry with an average salary of $91,503. The business advisor annual salary in the professional and transportation industries generally make $87,457 and $81,735 respectively. Additionally, business advisors who work in the technology industry make 21.2% more than business advisors in the finance Industry.

    The three companies that hire the most prestigious business advisors are:

      What Specialist-Small Businesss Do

      A small business specialist develops new business programs to meet changing customer demands. They are responsible for ensuring integrity and consistency in the domain of business. They analyze causes of a business issue, obtain business data, and make enquiries. They are responsible for making purchase agreements, confidentiality arrangements, and joint venture arrangement.

      We looked at the average business advisor annual salary and compared it with the average of a specialist-small business. Generally speaking, specialist-small businesses receive $10,490 lower pay than business advisors per year.

      Even though business advisors and specialist-small businesses have vast differences in their careers, a few of the skills required to do both jobs are similar. For example, both careers require customer service, business partners, and financial statements in the day-to-day roles.

      As far as similarities go, this is where it ends because a business advisor responsibility requires skills such as "action plans," "business operations," "project management," and "information technology." Whereas a specialist-small business is skilled in "financial needs," "customer relationships," "portfolio," and "business administration." So if you're looking for what truly separates the two careers, you've found it.

      Specialist-small businesses tend to reach lower levels of education than business advisors. In fact, specialist-small businesses are 16.3% less likely to graduate with a Master's Degree and 2.2% less likely to have a Doctoral Degree.

      What Are The Duties Of a Business Development Consultant?

      The role of business consultants is to provide an analysis of a company on its business practices and make recommendations for long-term goals. This role is also connected with various duties and responsibilities, including reviewing the company's financial statements, engaging in research on how to improve the company's offers, and developing new business models. Also, business consultants are responsible for negotiating contracts as needed, initiating plans and strategies to minimize company losses and drive profits. They may also function as the company's representative in promotional events and trade associations.

      The next role we're going to look at is the business development consultant profession. Typically, this position earns a lower pay. In fact, they earn a $18,523 lower salary than business advisors per year.

      Not everything about these jobs is different. Take their skills, for example. Business advisors and business development consultants both include similar skills like "customer service," "business operations," and "project management" on their resumes.

      But both careers also use different skills, according to real business advisor resumes. While business advisor responsibilities can utilize skills like "action plans," "information technology," "business partners," and "business units," some business development consultants use skills like "crm," "cloud," "product development," and "consultants."

      Business development consultants may earn a lower salary than business advisors, but business development consultants earn the most pay in the media industry with an average salary of $90,973. On the other side of things, business advisors receive higher paychecks in the technology industry where they earn an average of $91,503.

      On the topic of education, business development consultants earn similar levels of education than business advisors. In general, they're 1.3% more likely to graduate with a Master's Degree and 2.2% more likely to earn a Doctoral Degree.

      How a Senior Business Consultant Compares

      A senior business consultant specializes in performing research and analysis to optimize business processes. Their responsibilities revolve around coordinating with different departments to gather necessary data, devising strategies to reduce cost, assess risks, and identify the strength and weaknesses of operations to recommend solutions. They may also train and mentor junior consultants, produce progress reports and presentations, and assist clients through calls and correspondence. Furthermore, as a consultant, it is essential to adhere to the company's policies and regulations, including its vision and mission.

      The third profession we take a look at is senior business consultant. On an average scale, these workers bring in higher salaries than business advisors. In fact, they make a $16,156 higher salary per year.

      Using business advisors and senior business consultants resumes, we found that both professions have similar skills such as "customer service," "project management," and "information technology," but the other skills required are very different.

      Some important key differences between the two careers are a few of the skills necessary to fulfill responsibilities. Some examples from business advisor resumes include skills like "action plans," "business operations," "ensure compliance," and "human resources," whereas a senior business consultant might be skilled in "data analysis," "procedures," "sr," and "consultants. "

      Additionally, senior business consultants earn a higher salary in the energy industry compared to other industries. In this industry, they receive an average salary of $129,538. Additionally, business advisors earn an average salary of $91,503 in the technology industry.

      Senior business consultants typically study at higher levels compared with business advisors. For example, they're 10.0% more likely to graduate with a Master's Degree, and 0.2% more likely to earn a Doctoral Degree.

      Description Of a Business Development Executive

      A business development executive serves as a senior manager who drives company sales. Business development executives convince existing clients to buy more offerings and also source new clients. The focus of their job is on lead generation, prospect management, and customer acquisition. They collaborate with management in terms of sales objectives, planning, and prediction. The skills necessary for this job include customer service and relations, time management, strong written communication, and sales process experience.

      The fourth career we look at typically earns higher pay than business advisors. On average, business development executives earn a difference of $10,822 higher per year.

      According to resumes from both business advisors and business development executives, some of the skills necessary to complete the responsibilities of each role are similar. These skills include "customer service," "project management," and "healthcare. "

      Each job requires different skills like "action plans," "business operations," "information technology," and "business process," which might show up on a business advisor resume. Whereas business development executive might include skills like "crm," "cloud," "territory," and "account management."

      Business development executives earn a higher salary in the manufacturing industry with an average of $96,468. Whereas, business advisors earn the highest salary in the technology industry.

      In general, business development executives reach similar levels of education when compared to business advisors resumes. Business development executives are 0.5% less likely to earn their Master's Degree and 1.9% less likely to graduate with a Doctoral Degree.