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The differences between investment bankers and investment 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 investment banker and an investment consultant. Additionally, an investment banker has an average salary of $162,715, which is higher than the $109,300 average annual salary of an investment consultant.
The top three skills for an investment banker include financial services, discounted cash flow and capital markets. The most important skills for an investment consultant are financial services, FINRA, and financial products.
| Investment Banker | Investment Consultant | |
| Yearly salary | $162,715 | $109,300 |
| Hourly rate | $78.23 | $52.55 |
| Growth rate | 10% | 15% |
| Number of jobs | 28,460 | 48,111 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 77% |
| Average age | 43 | 45 |
| Years of experience | 4 | 4 |
An investment banker is responsible for selling and issuing securities and financial assets to the stock markets to generate money and raise capital for organizations and financial institutions. Investment bankers also work with private clients to advise them of investment options and financial transactions according to the market's condition and clients' interests. They handle the clients' investment portfolios and create propositions for acquisitions and company mergers. An investment banker must have excellent knowledge of the financial and stock industry, as well as having excellent analytical skills to review statistical data and determine the best financial strategies.
An investment consultant is an individual who gives investment products, planning, and/or advice to investors. Investment consultants formulate investment strategies to help clients fulfill their necessities and realize their financial objectives. They create internal research documents that outline real estate investment opportunities and private equity. It is also part of their job to review strategies of asset management that recognize estate and income tax needs.
Investment bankers and investment consultants have different pay scales, as shown below.
| Investment Banker | Investment Consultant | |
| Average salary | $162,715 | $109,300 |
| Salary range | Between $95,000 And $276,000 | Between $60,000 And $196,000 |
| Highest paying City | Boston, MA | New York, NY |
| Highest paying state | Alaska | New York |
| Best paying company | Citi | Bailey & Glasser |
| Best paying industry | Real Estate | Finance |
There are a few differences between an investment banker and an investment consultant in terms of educational background:
| Investment Banker | Investment Consultant | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 77% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Minnesota - Twin Cities |
Here are the differences between investment bankers' and investment consultants' demographics:
| Investment Banker | Investment Consultant | |
| Average age | 43 | 45 |
| Gender ratio | Male, 76.2% Female, 23.8% | Male, 79.7% Female, 20.3% |
| Race ratio | Black or African American, 5.5% Unknown, 4.1% Hispanic or Latino, 11.5% Asian, 12.4% White, 66.2% American Indian and Alaska Native, 0.2% | Black or African American, 5.7% Unknown, 4.4% Hispanic or Latino, 9.5% Asian, 8.4% White, 71.9% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 6% | 5% |