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The differences between economic consultants and project 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 project consultant. Additionally, a project consultant has an average salary of $86,654, which is higher than the $81,767 average annual salary of an economic consultant.
The top three skills for an economic consultant include SAS, SQL and data analysis. The most important skills for a project consultant are customer service, project management, and client facing.
| Economic Consultant | Project Consultant | |
| Yearly salary | $81,767 | $86,654 |
| Hourly rate | $39.31 | $41.66 |
| Growth rate | 11% | 11% |
| Number of jobs | 75,508 | 113,013 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 67% |
| 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.
A project consultant is responsible for communicating with the clients for their specific needs, develop strategic plans, and determine project resources to achieve their business goals and objectives. Project consultants are employed across various industries, offering their knowledge and expertise to facilitate clients' requests and propositions. They also collaborate with different development teams to discuss project parameters and analyze opportunities to improve plans and progress efficiency. A project consultant must have excellent communication and critical-thinking skills, responding to clients' inquiries and concerns, and providing recommendations to ensure successful project completion.
Economic consultants and project consultants have different pay scales, as shown below.
| Economic Consultant | Project Consultant | |
| Average salary | $81,767 | $86,654 |
| Salary range | Between $55,000 And $121,000 | Between $59,000 And $126,000 |
| Highest paying City | Washington, DC | Newark, NJ |
| Highest paying state | Massachusetts | New Jersey |
| Best paying company | Bates White, LLC | Dell |
| Best paying industry | Professional | - |
There are a few differences between an economic consultant and a project consultant in terms of educational background:
| Economic Consultant | Project Consultant | |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 67% |
| Most common major | Economics | Business |
| Most common college | Northwestern University | Northwestern University |
Here are the differences between economic consultants' and project consultants' demographics:
| Economic Consultant | Project Consultant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 64.1% Female, 35.9% | Male, 61.9% Female, 38.1% |
| 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, 7.4% Unknown, 4.4% Hispanic or Latino, 8.5% Asian, 14.4% White, 65.1% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 12% | 12% |