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Business strategy consultant hiring summary. Here are some key points about hiring business strategy consultants in the United States:
Here's a step-by-step business strategy consultant hiring guide:
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.
Before you start hiring a business strategy consultant, identify what type of worker you actually need. Certain positions might call for a full-time employee, while others can be done by a part-time worker or contractor.
A business strategy consultant's background is also an important factor in determining whether they'll be a good fit for the position. For example, business strategy consultants from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.
Here's a comparison of business strategy consultant salaries for various roles:
| Type of Business Strategy Consultant | Description | Hourly rate |
|---|---|---|
| Business Strategy Consultant | Management analysts, often called management consultants, propose ways to improve the efficiency of an organization. They advise managers on how to make organizations more profitable through reduced costs and increased revenues. | $37-81 |
| Business Developer | A business developer specializes in conducting in-depth business analysis and crafting various strategies that would not just help a business grow, but also strengthen client base and brand awareness. One of their primary responsibilities revolves around identifying areas in need of improvement... Show more | $31-75 |
| Business Advisor | 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... Show more | $32-66 |
Including a salary range in your business strategy consultant job description helps attract top candidates to the position. A business strategy consultant salary can be affected by several factors, such as geography, experience, seniority, certifications, and the prestige of the hiring company.
For example, the average salary for a business strategy consultant in Wyoming may be lower than in Texas, and an entry-level business strategy consultant usually earns less than a senior-level business strategy consultant. Additionally, a business strategy consultant with certifications may command a higher salary, and working for a well-known company or start-up may also impact an employee's pay.
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Texas | $137,447 | $66 |
| 2 | Massachusetts | $132,799 | $64 |
| 3 | California | $130,028 | $63 |
| 4 | District of Columbia | $128,400 | $62 |
| 5 | Washington | $127,198 | $61 |
| 6 | New York | $124,968 | $60 |
| 7 | Connecticut | $123,743 | $59 |
| 8 | Virginia | $123,389 | $59 |
| 9 | New Jersey | $118,528 | $57 |
| 10 | Oregon | $118,251 | $57 |
| 11 | Ohio | $117,442 | $56 |
| 12 | Pennsylvania | $110,798 | $53 |
| 13 | Colorado | $109,080 | $52 |
| 14 | North Carolina | $107,134 | $52 |
| 15 | Wisconsin | $107,064 | $51 |
| 16 | Alabama | $105,633 | $51 |
| 17 | Minnesota | $105,360 | $51 |
| 18 | Illinois | $102,423 | $49 |
| 19 | Missouri | $102,362 | $49 |
| 20 | Indiana | $101,133 | $49 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | $157,877 | $75.90 | 54 | |
| 2 | Veeva Systems | $144,143 | $69.30 | 109 |
| 3 | Ernst & Young | $142,914 | $68.71 | 1,162 |
| 4 | Strategic Staffing Solutions | $137,053 | $65.89 | |
| 5 | Microsoft | $136,420 | $65.59 | 33 |
| 6 | State Street | $130,434 | $62.71 | 8 |
| 7 | Ericsson | $130,263 | $62.63 | 3 |
| 8 | BNY Mellon | $129,479 | $62.25 | 10 |
| 9 | Apex Systems | $128,233 | $61.65 | 12 |
| 10 | Blue Cross & Blue Shield | $127,120 | $61.12 | 42 |
| 11 | Flyhomes | $127,118 | $61.11 | |
| 12 | Teltech Communications, Llc | $127,099 | $61.11 | |
| 13 | *n/a* | $126,912 | $61.02 | 1 |
| 14 | Salesforce | $125,531 | $60.35 | 16 |
| 15 | Visa | $123,990 | $59.61 | 19 |
| 16 | Park Hudson | $123,866 | $59.55 | |
| 17 | Randstad North America, Inc. | $122,272 | $58.78 | 3 |
| 18 | JPMorgan Chase & Co. | $113,357 | $54.50 | 283 |
| 19 | CareFirst BlueCross BlueShield | $112,908 | $54.28 | 1 |
| 20 | BlackRock | $110,286 | $53.02 | 6 |
A business strategy consultant job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. Below, you can find an example of a business strategy consultant job description:
To find the right business strategy consultant for your business, consider trying out a few different recruiting strategies:
Your first interview with business strategy consultant candidates should focus on their interest in the role and background experience. As the hiring process goes on, you can learn more about how they'd fit into the company culture in later rounds of interviews.
You should also ask about candidates' unique skills and talents to see if they match the ideal candidate profile you developed earlier. Candidates good enough for the next step can complete the technical interview.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you have selected a candidate for the business strategy consultant position, it is time to create an offer letter. In addition to salary, the offer letter should include details about benefits and perks that are available to the employee. Ensuring your offer is competitive is vital, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and it is important to be open to discussion and reach a mutually beneficial agreement. After the offer has been accepted, it is a good idea to formalize the agreement with a contract.
It's also important to follow up with applicants who do not get the job with an email letting them know that the position is filled.
To prepare for the new business strategy consultant first day, you should share an onboarding schedule with them that covers their first period on the job. You should also quickly complete any necessary paperwork, such as employee action forms and onboarding documents like I-9, benefits enrollment, and federal and state tax forms. Finally, Human Resources must ensure a new employee file is created for internal record keeping.
There are different types of costs for hiring business strategy consultants. One-time cost per hire for the recruitment process. Ongoing costs include employee salary, training, onboarding, benefits, insurance, and equipment. It is essential to consider all of these costs when evaluating hiring a new business strategy consultant employee.
You can expect to pay around $115,742 per year for a business strategy consultant, as this is the median yearly salary nationally. This can vary depending on what state or city you're hiring in. If you're hiring for contract work or on a per-project basis, hourly rates for business strategy consultants in the US typically range between $37 and $81 an hour.