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The differences between investment consultants and 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 consultant and a consultant. Additionally, an investment consultant has an average salary of $109,300, which is higher than the $78,912 average annual salary of a consultant.
The top three skills for an investment consultant include financial services, FINRA and financial products. The most important skills for a consultant are customer service, strong analytical, and project management.
| Investment Consultant | Consultant | |
| Yearly salary | $109,300 | $78,912 |
| Hourly rate | $52.55 | $37.94 |
| Growth rate | 15% | 11% |
| Number of jobs | 48,111 | 171,733 |
| Job satisfaction | - | 4 |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 64% |
| Average age | 45 | 44 |
| Years of experience | 4 | 4 |
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.
Consultants are individuals who were tapped by a company or an organization to work on a specific activity, depending on their field of expertise. They act as guides for the organization in undertaking projects that are related to their field. Consultants would usually assist organizations in planning, often giving advice when the need arises. They would, at times, take the lead in activities that involve data gathering and interpretation of data gathering results so that they can provide solid recommendations on actions that the organization may undertake. They may also guide the organization in implementing any changes brought about by their consultancy and in evaluating the effectiveness of the changes.
Investment consultants and consultants have different pay scales, as shown below.
| Investment Consultant | Consultant | |
| Average salary | $109,300 | $78,912 |
| Salary range | Between $60,000 And $196,000 | Between $58,000 And $107,000 |
| Highest paying City | New York, NY | Washington, DC |
| Highest paying state | New York | New Jersey |
| Best paying company | Bailey & Glasser | L.E.K. Consulting |
| Best paying industry | Finance | Technology |
There are a few differences between an investment consultant and a consultant in terms of educational background:
| Investment Consultant | Consultant | |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 64% |
| Most common major | Business | Business |
| Most common college | University of Minnesota - Twin Cities | Northwestern University |
Here are the differences between investment consultants' and consultants' demographics:
| Investment Consultant | Consultant | |
| Average age | 45 | 44 |
| Gender ratio | Male, 79.7% Female, 20.3% | Male, 58.4% Female, 41.6% |
| Race ratio | 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% | Black or African American, 7.8% Unknown, 4.5% Hispanic or Latino, 8.7% Asian, 13.8% White, 65.0% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 5% | 12% |