Individual pension consultant vs pension consultant

The differences between individual pension consultants and pension consultants can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become an individual pension consultant, becoming a pension consultant takes usually requires 4-6 years. Additionally, a pension consultant has an average salary of $74,793, which is higher than the $43,775 average annual salary of an individual pension consultant.

The top three skills for an individual pension consultant include financial issues, insurance products and life insurance. The most important skills for a pension consultant are calculation, plan administration, and ERISA.

Individual pension consultant vs pension consultant overview

	Individual Pension Consultant	Pension Consultant
Yearly salary	$43,775	$74,793
Hourly rate	$21.05	$35.96
Growth rate	15%	7%
Number of jobs	8,112	6,583
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 77%	Bachelor's Degree, 83%
Average age	45	45
Years of experience	4	6

Individual pension consultant vs pension consultant salary

Individual pension consultants and pension consultants have different pay scales, as shown below.

	Individual Pension Consultant	Pension Consultant
Average salary	$43,775	$74,793
Salary range	Between $26,000 And $73,000	Between $52,000 And $106,000
Highest paying City	-	-
Highest paying state	-	-
Best paying company	-	-
Best paying industry	-	-

Differences between individual pension consultant and pension consultant education

There are a few differences between an individual pension consultant and a pension consultant in terms of educational background:

	Individual Pension Consultant	Pension Consultant
Most common degree	Bachelor's Degree, 77%	Bachelor's Degree, 83%
Most common major	Business	Business
Most common college	University of Minnesota - Twin Cities	University of Pennsylvania

Individual pension consultant vs pension consultant demographics

Here are the differences between individual pension consultants' and pension consultants' demographics:

	Individual Pension Consultant	Pension Consultant
Average age	45	45
Gender ratio	Male, 59.8% Female, 40.2%	Male, 51.7% Female, 48.3%
Race ratio	Black or African American, 5.6% Unknown, 4.4% Hispanic or Latino, 9.4% Asian, 8.3% White, 72.2% American Indian and Alaska Native, 0.1%	Black or African American, 10.5% Unknown, 3.7% Hispanic or Latino, 15.4% Asian, 7.9% White, 62.1% American Indian and Alaska Native, 0.4%
LGBT Percentage	5%	9%

Differences between individual pension consultant and pension consultant duties and responsibilities

Individual pension consultant example responsibilities.

Manage files from origination to closing, and accurately organize and review all documents for processing.
Provide financial products and services to assist the investors with their financial needs like loans, after tax annuities and IRAs.
Review and implement terms of QDRO for retirement annuities in marital dissolution proceedings.
Manage files from origination to closing, and accurately organize and review all documents for processing.
Remain current on IRA regulations and policies.
Develop fee-based blotter reporting program to address AUM reporting and compliance suitability.

Pension consultant example responsibilities.

Recruit to manage key client engagements to define global strategic sourcing projects and solutions to utilize technology and advance ERP systems.
Research and compile documents to assist senior legal counsel specific to ERISA litigation.
Fast learner, note for quickly developing strong knowledge of IRS rules for insurance industry.
Leverage sales skills to identify customer needs and create new opportunities to transfer assets to TIAA-CREF.
Pioneer the Spanish initiative, in taking the first calls in Spanish for TIAA-CREF along with a small team.
Review court orders and relate legal documents to ensure compliance with applicable IRC provisions, ERISA, and qualify plan requirements.

Individual pension consultant vs pension consultant skills

Common individual pension consultant skills

Financial Issues, 38%
Insurance Products, 14%
Life Insurance, 9%
Annuities, 7%
Asset Retention, 5%
Retirement Accounts, 5%

Common pension consultant skills

Calculation, 19%
Plan Administration, 14%
ERISA, 13%
Government Filings, 12%
Plan Provisions, 11%
Plan Design, 10%

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Individual Pension Consultant
Individual Pension Consultant vs Pension Consultant

Updated January 8, 2025

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