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The differences between investment consultants and investment counselors 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 an investment counselor. Additionally, an investment counselor has an average salary of $120,817, which is higher than the $109,300 average annual salary of an investment consultant.
The top three skills for an investment consultant include financial services, FINRA and financial products. The most important skills for an investment counselor are client service, capital markets, and client relationships.
| Investment Consultant | Investment Counselor | |
| Yearly salary | $109,300 | $120,817 |
| Hourly rate | $52.55 | $58.09 |
| Growth rate | 15% | 15% |
| Number of jobs | 48,111 | 33,016 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 78% |
| Average age | 45 | 45 |
| 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.
Investment counselors can be called financial planners. They usually work in a financial institution to communicate with clients on how to invest in an investment. An investment counselor often assesses the client's financial situation to come up with a financial plan. Sometimes, they are also responsible for conducting training and workshops for both clients and bank employees.
Investment consultants and investment counselors have different pay scales, as shown below.
| Investment Consultant | Investment Counselor | |
| Average salary | $109,300 | $120,817 |
| Salary range | Between $60,000 And $196,000 | Between $68,000 And $213,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Bailey & Glasser | Citi |
| Best paying industry | Finance | Finance |
There are a few differences between an investment consultant and an investment counselor in terms of educational background:
| Investment Consultant | Investment Counselor | |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 78% |
| Most common major | Business | Business |
| Most common college | University of Minnesota - Twin Cities | University of Minnesota - Twin Cities |
Here are the differences between investment consultants' and investment counselors' demographics:
| Investment Consultant | Investment Counselor | |
| Average age | 45 | 45 |
| Gender ratio | Male, 79.7% Female, 20.3% | Male, 74.0% Female, 26.0% |
| 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, 5.6% Unknown, 4.4% Hispanic or Latino, 9.4% Asian, 8.1% White, 72.5% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 5% | 5% |