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The differences between economic consultants and senior 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 senior consultant. Additionally, a senior consultant has an average salary of $100,188, 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 senior consultant are healthcare, project management, and java.
| Economic Consultant | Senior Consultant | |
| Yearly salary | $81,767 | $100,188 |
| Hourly rate | $39.31 | $48.17 |
| Growth rate | 11% | 11% |
| Number of jobs | 75,508 | 241,206 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 68% |
| 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.
Senior consultants are individual contributors whose services are tapped by the organization for guidance on specific projects. They are experienced experts in a particular field that the company operates in or would like to have projects in. They are given primers on specific projects, and they comment on the feasibility of the undertaking. Once the task is deemed feasible, senior consultants act as guides throughout the project's planning and initial implementation stages. They provide their expert opinion to ensure the success of the project.
Economic consultants and senior consultants have different pay scales, as shown below.
| Economic Consultant | Senior Consultant | |
| Average salary | $81,767 | $100,188 |
| Salary range | Between $55,000 And $121,000 | Between $76,000 And $131,000 |
| Highest paying City | Washington, DC | Washington, DC |
| Highest paying state | Massachusetts | New Jersey |
| Best paying company | Bates White, LLC | Conning |
| Best paying industry | Professional | Finance |
There are a few differences between an economic consultant and a senior consultant in terms of educational background:
| Economic Consultant | Senior Consultant | |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 68% |
| Most common major | Economics | Business |
| Most common college | Northwestern University | Northwestern University |
Here are the differences between economic consultants' and senior consultants' demographics:
| Economic Consultant | Senior Consultant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 64.1% Female, 35.9% | Male, 69.9% Female, 30.1% |
| 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, 8.4% Asian, 14.2% White, 65.3% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 12% | 12% |