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The differences between investment banking interns 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 banking internship and an investment consultant. Additionally, an investment consultant has an average salary of $109,300, which is higher than the $43,637 average annual salary of an investment banking internship.
The top three skills for an investment banking internship include powerpoint, customer service and work ethic. The most important skills for an investment consultant are financial services, FINRA, and financial products.
| Investment Banking Internship | Investment Consultant | |
| Yearly salary | $43,637 | $109,300 |
| Hourly rate | $20.98 | $52.55 |
| Growth rate | 9% | 15% |
| Number of jobs | 62,819 | 48,111 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 77% |
| Average age | 40 | 45 |
| Years of experience | 4 | 4 |
An investment banking intern is responsible for assisting investment bankers in delivering high-quality financial services to clients while learning various investment strategies and other related banking disciplines. Investment banking interns observe the investment processes, shadow bankers on their daily operations, and contribute to identifying business opportunities based on their class knowledge to practical applications. They also conduct financial analysis, data processing for the client's account information, performing research for the stock market, and creating financial reports for meeting documents.
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 banking interns and investment consultants have different pay scales, as shown below.
| Investment Banking Internship | Investment Consultant | |
| Average salary | $43,637 | $109,300 |
| Salary range | Between $26,000 And $72,000 | Between $60,000 And $196,000 |
| Highest paying City | - | New York, NY |
| Highest paying state | - | New York |
| Best paying company | - | Bailey & Glasser |
| Best paying industry | - | Finance |
There are a few differences between an investment banking internship and an investment consultant in terms of educational background:
| Investment Banking Internship | Investment Consultant | |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 77% |
| Most common major | Finance | Business |
| Most common college | University of Pennsylvania | University of Minnesota - Twin Cities |
Here are the differences between investment banking interns' and investment consultants' demographics:
| Investment Banking Internship | Investment Consultant | |
| Average age | 40 | 45 |
| Gender ratio | Male, 65.1% Female, 34.9% | Male, 79.7% Female, 20.3% |
| Race ratio | Black or African American, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% American Indian and Alaska Native, 0.1% | 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 | 7% | 5% |