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The differences between business development consultants and strategy consultants can be seen in a few details. Each job has different responsibilities and duties. Additionally, a strategy consultant has an average salary of $115,244, 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 strategy consultant are healthcare, project management, and develop recommendations.
| Business Development Consultant | Strategy Consultant | |
| Yearly salary | $85,153 | $115,244 |
| Hourly rate | $40.94 | $55.41 |
| Growth rate | 6% | 11% |
| Number of jobs | 168,111 | 70,241 |
| Job satisfaction | 5 | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 66% |
| Average age | 44 | 44 |
| Years of experience | - | 4 |
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.
A strategy consultant specializes in examining and analyzing business processes to identify areas needing improvement, ensuring to provide strategies for optimal performance. A strategy consultant may work as a member of a company or as a freelancer. Typically, their responsibilities revolve around discussing business vision and goals with clients, assessing the workflow and the workforce of a company, observing competitors, identifying risks, and recommending strategies for profitable growth and customer satisfaction. Furthermore, as a strategy consultant, it is essential to adhere to the company's vision and mission throughout the process.
Business development consultants and strategy consultants have different pay scales, as shown below.
| Business Development Consultant | Strategy Consultant | |
| Average salary | $85,153 | $115,244 |
| Salary range | Between $52,000 And $137,000 | Between $87,000 And $151,000 |
| Highest paying City | Minneapolis, MN | San Francisco, CA |
| Highest paying state | Pennsylvania | Alaska |
| Best paying company | Veeva Systems | Mayo Clinic |
| Best paying industry | Media | Finance |
There are a few differences between a business development consultant and a strategy consultant in terms of educational background:
| Business Development Consultant | Strategy Consultant | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | Western Carolina University | Northwestern University |
Here are the differences between business development consultants' and strategy consultants' demographics:
| Business Development Consultant | Strategy Consultant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 64.1% Female, 35.9% | Male, 63.1% Female, 36.9% |
| 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, 7.5% Unknown, 4.4% Hispanic or Latino, 8.5% Asian, 14.5% White, 64.9% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 11% | 12% |