Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between economic consultants and consultants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both an economic consultant and a consultant. Additionally, an economic consultant has an average salary of $81,767, which is higher than the $78,912 average annual salary of a consultant.
The top three skills for an economic consultant include SAS, SQL and data analysis. The most important skills for a consultant are customer service, strong analytical, and project management.
| Economic Consultant | Consultant | |
| Yearly salary | $81,767 | $78,912 |
| Hourly rate | $39.31 | $37.94 |
| Growth rate | 11% | 11% |
| Number of jobs | 75,508 | 171,733 |
| Job satisfaction | - | 4 |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 64% |
| Average age | 44 | 44 |
| Years of experience | 4 | 4 |
An economic consultant is responsible for analyzing data statistics and market conditions that affect the performance of the production and manufacturing processes of an organization. Economic consultants develop business plans to address economic difficulties based on the research and data methodologies. They write reports for the management's reference and discuss sales forecasts, as well as the availability of resources depending on the market changes. An economic consultant should have excellent communication and analytical skills, especially in helping the organization identify opportunities in the long run that would generate more revenues and profits.
Consultants are individuals who were tapped by a company or an organization to work on a specific activity, depending on their field of expertise. They act as guides for the organization in undertaking projects that are related to their field. Consultants would usually assist organizations in planning, often giving advice when the need arises. They would, at times, take the lead in activities that involve data gathering and interpretation of data gathering results so that they can provide solid recommendations on actions that the organization may undertake. They may also guide the organization in implementing any changes brought about by their consultancy and in evaluating the effectiveness of the changes.
Economic consultants and consultants have different pay scales, as shown below.
| Economic Consultant | Consultant | |
| Average salary | $81,767 | $78,912 |
| Salary range | Between $55,000 And $121,000 | Between $58,000 And $107,000 |
| Highest paying City | Washington, DC | Washington, DC |
| Highest paying state | Massachusetts | New Jersey |
| Best paying company | Bates White, LLC | L.E.K. Consulting |
| Best paying industry | Professional | Technology |
There are a few differences between an economic consultant and a consultant in terms of educational background:
| Economic Consultant | Consultant | |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 64% |
| Most common major | Economics | Business |
| Most common college | Northwestern University | Northwestern University |
Here are the differences between economic consultants' and consultants' demographics:
| Economic Consultant | Consultant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 64.1% Female, 35.9% | Male, 58.4% Female, 41.6% |
| Race ratio | Black or African American, 7.4% Unknown, 4.4% Hispanic or Latino, 8.4% Asian, 14.3% White, 65.2% American Indian and Alaska Native, 0.2% | Black or African American, 7.8% Unknown, 4.5% Hispanic or Latino, 8.7% Asian, 13.8% White, 65.0% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 12% | 12% |