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The differences between business development 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 $85,153 average annual salary of a business development consultant.
The top three skills for a business development consultant include healthcare, CRM and cloud. The most important skills for a business advisor are customer service, project management, and business operations.
| Business Development Consultant | Business Advisor | |
| Yearly salary | $85,153 | $96,469 |
| Hourly rate | $40.94 | $46.38 |
| Growth rate | 6% | 6% |
| Number of jobs | 168,111 | 125,154 |
| Job satisfaction | 5 | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 67% |
| Average age | 44 | 44 |
| Years of experience | - | - |
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.
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 development consultants and business advisors have different pay scales, as shown below.
| Business Development Consultant | Business Advisor | |
| Average salary | $85,153 | $96,469 |
| Salary range | Between $52,000 And $137,000 | Between $67,000 And $138,000 |
| Highest paying City | Minneapolis, MN | San Francisco, CA |
| Highest paying state | Pennsylvania | New Jersey |
| Best paying company | Veeva Systems | Amazon |
| Best paying industry | Media | Technology |
There are a few differences between a business development consultant and a business advisor in terms of educational background:
| Business Development Consultant | Business Advisor | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | Western Carolina University | Western Carolina University |
Here are the differences between business development consultants' and business advisors' demographics:
| Business Development Consultant | Business Advisor | |
| Average age | 44 | 44 |
| Gender ratio | Male, 64.1% Female, 35.9% | Male, 63.9% Female, 36.1% |
| Race ratio | 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% | 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 | 11% | 11% |