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The differences between consultants in product development and executive consultants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 8-10 years to become both a consultant in product development and an executive consultant. Additionally, an executive consultant has an average salary of $131,331, which is higher than the $111,727 average annual salary of a consultant in product development.
The top three skills for a consultant in product development include cycle management, business development and product development. The most important skills for an executive consultant are healthcare, business development, and financial services.
| Consultant In Product Development | Executive Consultant | |
| Yearly salary | $111,727 | $131,331 |
| Hourly rate | $53.71 | $63.14 |
| Growth rate | 10% | 10% |
| Number of jobs | 138,422 | 118,432 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 67% |
| Average age | 39 | 39 |
| Years of experience | 10 | 10 |
Product development consultants create products with enhanced or additional features to help their clients remain competitive. They evaluate the proposed designs of products before advising their team to start its development. Their jobs are mainly to report on actions to improve the product proposals and give constructive criticisms regarding the staff's performance during meetings or group huddles. They must also have strong written and verbal communication skills, knowledge in product development processes, and detail orientation to perform the duties of the job well.
An executive consultant gives support and guidance to the company's management team. Their duties may vary depending on each client's needs. Other companies hire consultants to solve a particular problem or assist with operations, employees, or strategic planning. They advise partner companies in business development opportunities to pursue financial goals and financial growth. They can also provide consulting services for non-profit organizations to act as an executive member.
Consultants in product development and executive consultants have different pay scales, as shown below.
| Consultant In Product Development | Executive Consultant | |
| Average salary | $111,727 | $131,331 |
| Salary range | Between $81,000 And $153,000 | Between $90,000 And $190,000 |
| Highest paying City | San Francisco, CA | South San Francisco, CA |
| Highest paying state | California | Washington |
| Best paying company | ERM | Mayo Clinic |
| Best paying industry | Transportation | Technology |
There are a few differences between a consultant in product development and an executive consultant in terms of educational background:
| Consultant In Product Development | Executive Consultant | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between consultants in product development' and executive consultants' demographics:
| Consultant In Product Development | Executive Consultant | |
| Average age | 39 | 39 |
| Gender ratio | Male, 66.6% Female, 33.4% | Male, 67.2% Female, 32.8% |
| Race ratio | Black or African American, 3.0% Unknown, 5.3% Hispanic or Latino, 8.7% Asian, 8.2% White, 74.6% American Indian and Alaska Native, 0.2% | Black or African American, 3.0% Unknown, 5.3% Hispanic or Latino, 8.7% Asian, 8.2% White, 74.6% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 10% | 10% |