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The differences between business strategy consultants and management consultants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a business strategy consultant and a management consultant. Additionally, a business strategy consultant has an average salary of $115,742, which is higher than the $99,360 average annual salary of a management consultant.
The top three skills for a business strategy consultant include cloud, business cases and project management. The most important skills for a management consultant are healthcare, project management, and portfolio.
| Business Strategy Consultant | Management Consultant | |
| Yearly salary | $115,742 | $99,360 |
| Hourly rate | $55.65 | $47.77 |
| Growth rate | 11% | 11% |
| Number of jobs | 123,920 | 153,045 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 67% |
| Average age | 44 | 44 |
| Years of experience | 4 | 4 |
A business strategy consultant specializes in developing strategies to help a company achieve its short and long-term goals. Their responsibilities typically include understanding the needs of the company, performing research and analysis to identify new business opportunities, gathering and analyzing data to determine the strengths and weaknesses of current operations, studying the competitors, and preparing detailed analysis reports and presentations for clients. It is also their duty to monitor the progress of implemented strategies, conducting corrective measures when needed. Furthermore, a business strategy consultant must adhere to the company's policies and regulations, including its vision and mission.
A management consultant's responsibility focuses on conducting an in-depth analysis of a company or business, including its target market. Through their findings, they can devise strategies that will help the business grow and attain a significant profit. There are also instances when a management consultant must solve particular issues that will require them to investigate the problem, assess damages, identify risks, and recommend the best solutions to take. Furthermore, a management consultant must adhere to the company's vision, mission, and policies at all times.
Business strategy consultants and management consultants have different pay scales, as shown below.
| Business Strategy Consultant | Management Consultant | |
| Average salary | $115,742 | $99,360 |
| Salary range | Between $79,000 And $169,000 | Between $72,000 And $136,000 |
| Highest paying City | Dallas, TX | Jersey City, NJ |
| Highest paying state | Texas | New Jersey |
| Best paying company | Apple | |
| Best paying industry | Utilities | Technology |
There are a few differences between a business strategy consultant and a management consultant in terms of educational background:
| Business Strategy Consultant | Management Consultant | |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | Northwestern University | Northwestern University |
Here are the differences between business strategy consultants' and management consultants' demographics:
| Business Strategy Consultant | Management Consultant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 65.3% Female, 34.7% | Male, 65.9% Female, 34.1% |
| Race ratio | Black or African American, 7.6% Unknown, 4.5% Hispanic or Latino, 8.5% Asian, 14.6% White, 64.7% American Indian and Alaska Native, 0.2% | Black or African American, 8.1% Unknown, 4.5% Hispanic or Latino, 8.9% Asian, 13.6% White, 64.8% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 12% | 12% |