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Job outlook for investment consultants in the United States
Investment consultant job growth summary. After extensive research, interviews, and analysis, Zippia's data science team found that:
The projected investment consultant job growth rate is 15% from 2018-2028.
About 50,900 new jobs for investment consultants are projected over the next decade.
Investment consultant salaries have increased -1% for investment consultants in the last 5 years.
There are over 73,643 investment consultants currently employed in the United States.
There are 48,111 active investment consultant job openings in the US.
The average investment consultant salary is $109,300.
Are investment consultant jobs in demand?
Investment consultant job and salary trends over time
Investment consultant jobs over time
Investment consultant job growth rate over time
| Year | # of jobs | % of population |
|---|---|---|
| 2021 | 73,643 | 0.02% |
| 2020 | 61,766 | 0.02% |
| 2019 | 59,653 | 0.02% |
| 2018 | 56,824 | 0.02% |
| 2017 | 56,794 | 0.02% |
Average investment consultant salary over time
Investment consultant salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2026 | $109,300 | $52.55 | +1.7% |
| 2025 | $107,489 | $51.68 | --1.2% |
| 2024 | $108,761 | $52.29 | --1.9% |
| 2023 | $110,903 | $53.32 | +0.1% |
| 2022 | $110,768 | $53.25 | +1.5% |
Investment consultant jobs by state
Most common states for investment consultants
| Rank | State | Population | # of jobs | Employment/ 1000ppl |
|---|---|---|---|---|
| 1 | Oklahoma | 3,930,864 | 1,241 | 32% |
| 2 | District of Columbia | 693,972 | 220 | 32% |
| 3 | South Dakota | 869,666 | 192 | 22% |
| 4 | Kansas | 2,913,123 | 598 | 21% |
| 5 | Maine | 1,335,907 | 241 | 18% |
| 6 | New Mexico | 2,088,070 | 337 | 16% |
| 7 | Alabama | 4,874,747 | 709 | 15% |
| 8 | West Virginia | 1,815,857 | 266 | 15% |
| 9 | South Carolina | 5,024,369 | 659 | 13% |
| 10 | North Dakota | 755,393 | 95 | 13% |
| 11 | Wyoming | 579,315 | 67 | 12% |
| 12 | Utah | 3,101,833 | 337 | 11% |
| 13 | Minnesota | 5,576,606 | 538 | 10% |
| 14 | Arkansas | 3,004,279 | 304 | 10% |
| 15 | Mississippi | 2,984,100 | 296 | 10% |
| 16 | Massachusetts | 6,859,819 | 635 | 9% |
| 17 | Wisconsin | 5,795,483 | 536 | 9% |
| 18 | Illinois | 12,802,023 | 984 | 8% |
| 19 | Virginia | 8,470,020 | 695 | 8% |
| 20 | Delaware | 961,939 | 74 | 8% |
Most common cities for investment consultants
| Rank | City | # of jobs | Employment/ 1000ppl | Avg. salary |
|---|---|---|---|---|
| 1 | Rolling Meadows | 2 | 8% | $109,665 |
| 2 | Annapolis | 1 | 3% | $83,535 |
| 3 | Bethesda | 1 | 2% | $83,261 |
| 4 | Brea | 1 | 2% | $108,860 |
| 5 | Atlanta | 4 | 1% | $87,487 |
| 6 | Birmingham | 2 | 1% | $81,383 |
| 7 | Chandler | 2 | 1% | $95,863 |
| 8 | Ann Arbor | 1 | 1% | $99,725 |
| 9 | Cambridge | 1 | 1% | $134,219 |
| 10 | Chico | 1 | 1% | $113,599 |
| 11 | Costa Mesa | 1 | 1% | $108,657 |
| 12 | Chicago | 4 | 0% | $109,861 |
| 13 | Boston | 3 | 0% | $134,265 |
| 14 | Los Angeles | 3 | 0% | $109,225 |
| 15 | Jacksonville | 2 | 0% | $78,317 |
| 16 | New York | 2 | 0% | $145,576 |
| 17 | Phoenix | 2 | 0% | $95,991 |
| 18 | Austin | 1 | 0% | $95,609 |
| 19 | Baltimore | 1 | 0% | $83,699 |
Investment Consultant job outlook: Expert opinions
Our panel of investment consultant experts
Manhattan College
Fairfield University
University of Oregon
American University
Southwestern College
Pacific Lutheran University
University of Nevada - Las Vegas
Lincoln University
Texas A&M University–Central Texas
University of Texas at El Paso
Campbellsville University
Governors State University
Davis & Elkins College
Hartwick College
University of Rhode Island
What general advice would you give to an Investment Consultant?
Dr. Natalia Boliari PhD: First, learn everything about the company you just started working for - its historical path, management, the way it's dealt with crises, etc. Second, learn everything about the specific industry the company belongs to and see how the company has developed relative to the development of the industry domestically and internationally. Third, always be extremely alert to notice new opportunities and be prepared to take calculated risks. That is, actively look for opportunities to complete as many and diverse tasks as possible, and volunteer to complete any type of work regardless of whether it seems relevant to your assigned job or not. Opportunities to learn, grow, and improve and thus to maximize your income, will only come up if you are exposed to diverse situations.
What Investment Consultant skills would you recommend for someone trying to advance their career?
Dr. Natalia Boliari PhD: Be open minded. Finance is the broad definition of an industry which provides opportunities for careers in financial consultancy, financial analysis, stock brokerage, foreign investment, modeling, exchange rate forecasts, and many more. While most of those careers are attributed to the banking industry, you can find those and others in other sectors of the economy, such as insurance, technology, health care/medical, government, and so on. So, be open and look beyond the banking sector, examine the current and predicted trends in the economy to hunt for exciting career options.
What general advice would you give to an Investment Consultant?
John McDermott Ph.D.: To maximize your salary potential, keep learning, investing in your human capital, and expanding your capabilities. Learn as much as you can about your new position and industry, work with a variety of people at your firm, and seek opportunities outside your comfort zone. Your salary potential will increase as you are recognized as a capable and hard working colleague.
What will help Investment Consultants increase their earning potential?
Clemens Kownatzki PhD, MBA: As a beginner in any field, it pays to listen more than to talk. Be humble, pay attention, be nice to folks and probably most helpful is having a mentor who can guide you along and show you some best practices for navigating your career. You should take advantage of your education, not just to show a piece of paper that says you graduated but think of every single project, essay or paper that you write as part of a portfolio that demonstrates your skill sets. Especially in finance where we can sometimes be enamored with the beauty of a mathematical model, think about how any model should be applied in the real world. In some cases that might mean that you have to “get your hands on the wheel and learn how to drive.” I am not suggesting that you should put all your savings at risk and buy the next iteration of the latest cryptocurrency, but If you’re interested in a career in investing, put a small amount of money at risk and trade a stock, or if you must trade a few dollars’ worth of Bitcoin or Ether – as much as you would risk for a movie ticket seems reasonable. There are lots of virtual trading apps where you can trade with paper money, but there’s nothing like understanding risk when your own dollars are at stake, even if it’s just a few dollars. You should also absorb all the workshops, seminars and resources available out there. Follow Prof. Aswath Damodaran who has a YouTube Channel and hundreds of spreadsheets with financial models, all for free! Also follow some good content providers on various channels to get additional insights – in the field of finance, you need to be up-to-date on all events because those influence markets and the economy. Be ready to continue learning and update your skills and understanding while you’re working. Education doesn’t end after you finish your degree. All successful people are life-long learners.
Keith Kerr Prof.
What will help Investment Consultants increase their earning potential?
Keith Kerr Prof.: There are two basic ways that most people in the US find financial success: Either find a job that pays a high salary, or find a career that you love, regardless of the salary, and make a habit of saving and investing part of your income each month starting with your first paycheck.
If you invest only $90 a month starting at 21 and ending at retirement, you would have a bit over 1 million dollars (assuming a 10% annual gain). Wait just 5 years and start doing this at 26 and your 5 years of time will have cost you $400,000 by retirement. This is the power of compounding. Start early and even with a lower salary, you still can find financial success while pursuing careers that are meaningful to you.
What will help Investment Consultants increase their earning potential?
Timothy Egan M.S. Marketing: -Under promise and over deliver. -Know your value, self-assess your skills, your knowledge and your role. Understand when and when not a company can give increases. -Build an internal support system. Make sure you have people who will go to bat for you when you want to move up internally. -After succeeding don't be afraid to ask for an increase. -And remember, stay humble. The minute you think you know everything; you haven't learned anything.
Z. Jay Wang
Department Head, Associate Professor of FinanceUniversity of Oregon
Finance And Financial Management Services
What will help Investment Consultants increase their earning potential?
Z. Jay Wang: Students who have a history of doing work in the field outside the classroom either through internships, industry projects, or school-sponsored clubs managing financial decisions are better poised to maximize starting salary potential. Starting early to secure internships with top companies will also position students well for higher earning potential. Most top banks and firms will post internships from April/May to August, and close by the end of September for the following summer. They are also rolling, so may fill the roles by as early as June of the sophomore year for the following summer after junior year. Finally, networking with industry and alumni professionals in the companies, firms, banks prior to applying for an internship or full-time position will have an impact. The candidate will learn more about the opportunity and company culture for their resume and potential interview, and most top companies in finance will have a referral program. If the candidate impresses the internal connection with excellent questions and strategic answers, they may get a referral that moves them up in the stacks of applicants.
Octavian Ionici PhD
Sr. Lecturer in FinanceAmerican University
Finance And Financial Management Services
What Investment Consultant skills would you recommend for someone trying to advance their career?
Octavian Ionici PhD: The finance profession is lucrative, rewarding and very competitive. Graduates should do their research about the organization they are interviewing with and be able to discuss how their skills can contribute to the business. They should also know if they would rather interact with people and clients or if they are drawn to intellectual pursuits such as analysis. Do they value power, prestige status, risk, or something else? Ultimately our core values, personal goals, interests, aptitudes, and personality will shape our career paths.
Being able to articulate what sparked their interest in the financial field and why they are interested in a chosen role will be an advantage during the hiring process. While still in college, students should join a professional association like the Financial Management Association to give them more access to that broad network, as well as access to career development resources that can set them apart from the crowd.
It's also critical to get an internship (paid or unpaid) in order to show some real-life experience. They can do this while they are still in college, during the summers, or even afterwards, to get a foot in the door.
Reading the WSJ and FT daily, and listening to Bloomberg, or other financial programs as a regular practice will help them to have fluency in the language of our profession. Because the finance sector is heavily regulated and changes occur due to changing economic and political conditions, they will need to stay updated with those changes. Financial media sources will help bring them that context to stay up to date on all of these moving parts.
What will help Investment Consultants increase their earning potential?
Octavian Ionici PhD: Try to understand what your boss or your company needs, then see if you can fill that gap with your skill set and work ethic. Finance constantly evolves. A career with lifelong learning will help keep you employable. Investing in continuous learning and skill development can increase your income potential down the road.
Plus, don't underestimate the power of a positive attitude and strong work ethic. You may not be an expert at the beginning, but you can take on every challenge given to you, work hard and try to turn it into a success for your organization. Each win will build your reputation and your portfolio of skills which you will then bring with you to your next job. As you do this, you will inevitably acquire specialized skills.
What will help Investment Consultants increase their earning potential?
Dr. Kimberly Gaither: Maximize your salary potential by asking questions and learning as quickly as possible. Be a good communicator with those above and below you as well as your peers. Be dependable. Persons who show up early and work hard will be valued and rewarded.
Kevin Alston MBA
Doctoral Candidate DBASouthwestern College
Finance And Financial Management Services
What will help Investment Consultants increase their earning potential?
Kevin Alston MBA: Crypto Currency and AI. These two are the most impactful variables associated with the Financial Industry.
What general advice would you give to an Investment Consultant?
Kevin Alston MBA: Ensure that you are marketable and are considered a commodity. What that means is the firm that you are interested in joining should consider your skills and knowledge an invaluable commodity. One who stands head and shoulders above the competition.
Fang Lin
Assistant Professor of FinancePacific Lutheran University
Finance And Financial Management Services
What Investment Consultant skills would you recommend for someone trying to advance their career?
Fang Lin: Don't be afraid to negotiate your starting salary. Young journalists have a lot to offer newsrooms through social media skills and a willingness to adapt to new technologies such as artificial intelligence. Technology skills have value and should not be undersold. Also, young journalism students should not discount the value of their student media and internship experiences. Young journalists must use everything on their resumes to show how they bring value to their position and ask to be compensated fairly for the work they will contribute to the newsroom's success.
Dhruba Banjade
Assistant Professor in Finance & Department Chair of Business AnalysisWhat general advice would you give to an Investment Consultant?
Dhruba Banjade: i. The industry technology is changing fast. Specific skills will be more critical in the finance field in the next 3-5 years. Some of these are:
ii. Data analysis/ data mining skills. Knowledge of Excel, R, Python, data visualization, Tableau, RapidMiner, machine learning, and financial modeling skills are essential in finance and business.
iii. Skills and knowledge of artificial intelligence and machine learning will give more opportunities and help career development.
iv. Network security and cybersecurity are essential to protect financial transactions and digital data.
v. Knowledge of financial regulations and risk management will be in high demand in the next 3-5 years.
vi. Soft skills such as politeness, ability to work in a diverse group, good communication, learning attitude, etc, are also necessary.
vii. Many industry and business companies today focus on sustainable development and environmental, social, and governance activities. Knowledge of sustainability and ESG measures is also helpful.
viii. Broad knowledge of global financial markets, international finance, global economy, etc., will be valuable in the next 3-5 years.
John Clark Ph.D., CFA, CFP
Chair, Dept. of FinanceUniversity of Nevada - Las Vegas
Geological And Earth Sciences/Geosciences
What general advice would you give to an Investment Consultant?
John Clark Ph.D., CFA, CFP: Show you have experience. Doing an internship is a great way to increase your starting salary. I always advocate for doing applied research, this is research that you can show has implications for society - science for the sake of science is not good science! Obtaining an MS degree is also a good way to increase your salary, especially if your MS degree is relevant to your future job.
Will there be an enduring impact of the coronavirus pandemic on Investment Consultants?
Dr. Mikhail Brodsky Ph.D.: Of course, everybody and everything are negatively influenced by COVID. Quality of education and employment options are down.
What's a good job out of college for Investment Consultants?
Dr. Mikhail Brodsky Ph.D.: There is no general answer to this question. We are all different. A good job is the one that a person enjoys.
What will help Investment Consultants increase their earning potential?
Dr. Mikhail Brodsky Ph.D.: We teach managers. They need to be experts in the field of work additionally to managerial skills and knowledge.
What's a good job out of college for Investment Consultants?
Dr. Rebecca McPherson Ph.D.: There is no one right answer to this question. It really depends on your background and your top three priorities. Also, if you have any concerns or mitigating issues that you are trying to accommodate, you need to consider those as well. Understanding your top three priorities and your potential career progression will help determine what is the best job for you right out of college.
For students graduating with a degree in human resource management and pursuing an HR career, seeking an entry-level HR assistant position is typically the first step. The best job for a new graduate will be one where they are exposed to the many areas of HR, and the HR manager/director agrees to be a mentor and a coach helping to grow the new graduate in the HR profession. The HR profession is unique from other professional services in that the foundation of HR is grounded in legal compliance. The complexity of legal compliance needs to be understood from an academic perspective and applied in an employment scenario. It is often the case that in any given employment situation multiple employment laws overlap, and the HR professional has to choose from many right answers to find the best correct answer. Developing this expertise can take two to three years in a generalist position with a great mentor to help prepare you for being a business partner and HR leader in an organization.
So, when considering your first job, do you understand your career path? Do you know the types of skills and experiences you need from your first job to be qualified for your next career step? Do you know what questions you will ask in an interview about continuing education and career support? Do you know what your top three priorities are when seeking or accepting a job offer?
Bottom line, an excellent job out of college will prepare you for the next step in your career, or it will meet your unique needs.
What are the biggest trends we'll see in the Investment Consultant job market given the pandemic?
Dr. Frank Cabano Ph.D.: I think maybe the biggest trend that we will continue to see is that employers are going to hire more employees to work completely from home, even after the pandemic ends. Many employers have realized the advantages of having their employees work virtually during the pandemic, and it is expected that they will continue to operate in this fashion even after it is safe to return to work in physical spaces. Therefore, I think they will continue to hire employees who can live anywhere in the world and work remotely from home.
What skills stand out on Investment Consultant resumes?
Dr. Frank Cabano Ph.D.: I think these days something that really stands out on a resume is data analytic skills. Given the large amounts of data that companies have access to nowadays, employers are often looking for employees who have the knowledge and skills to be able to manage, analyze, and draw insights from that data. Therefore, knowledge of advanced statistics and being able to use different statistical packages to analyze large data sets, and then being able to offer evidence-based insights from this data, are important skills to have on today's job market. In addition, and related to the importance of having data analytic skills, is being able to demonstrate one's communication skills. Both written and oral communication skills are critical, and pairing these "soft" skills with the "hard" skills of data analytics, where one can effectively communicate practical implications from data analyses, should be great assets for a candidate currently on the job market.
Are there any particularly good places in the United States for Investment Consultants to find work opportunities?
Dr. Frank Cabano Ph.D.: There are a number of cities in the U.S. that are considered tech hubs where people can find desirable positions in data science. Some of the more well-known tech hubs besides Silicon Valley would be places like Austin, Boston, Seattle, and Denver, but there are also many up-and-coming cities in this domain such as Tampa, Charlotte, and Raleigh.
Dr. Bill Adams Ph.D.
Associate Professor of BusinessCampbellsville University
School of Business and Economics
Will there be an enduring impact of the coronavirus pandemic on Investment Consultants?
Dr. Bill Adams Ph.D.: The two biggest areas of impact are in working remotely and customer service. The pandemic has shown us that many job duties can be performed remotely. However, this presents a new set of challenges for graduates entering the workforce. Graduates will have to be able to manage their time effectively, without the face-to-face motivation that typically takes place. Organizations will be more results-driven and not as concerned with the specific amount of time workers are putting in every day. If the graduates enter an organization in a leadership role, they have to understand how to inspire and motivate their followers in a remote setting. Additionally, customer service must be flexible and adaptable as we've seen with restaurants implementing take-out and brick-and-mortar retailers improving their logistics in order to deliver online orders more efficiently. Graduates will have to be open to change, which will be necessary to succeed.
What type of skills will young Investment Consultants need?
Dr. Bill Adams Ph.D.: As I mentioned in the previous response, young graduates will need to able to manage their time effectively, be self-driven, understand the psychological elements of leadership to motivate and inspire their followers, and be open to change. Organizations have to continuously evolve and improve, and there's no improvement without change.
What experience really stands out on Investment Consultant resumes?
Dr. Bill Adams Ph.D.: Based on my professional experience prior to academia, current research, as well as ongoing dialogue with organizational leaders, graduates will need to express a willingness to solve problems. How many times have you become frustrated because you had a problem or issue and couldn't find anyone willing to help you solve it? Organizations need problem-solvers, people who will not accept the status quo because "it's the way things have always been done around here and it will never change." Of course, having a college degree will also boost a resume, but that will only get your foot in the door. Graduates have to be able to exhibit these skills on the job and learn from the mistakes that they will inevitably make. Graduates will also need to make sure that they are a good fit for the culture of the organization in which they are applying. I tell my students not to get frustrated if they've applied for a position and get called in for several interviews with different people. This is a good thing! The organization wants to make sure that the candidate is a good fit, which will benefit the candidate as well. It also gives the candidate an opportunity to "interview the organization."
What are the biggest trends we'll see in the Investment Consultant job market given the pandemic?
Kristina Anderson: Based off my research, the job rates for public administration are expected to hold steady. Public administration jobs in state and local governments will likely increase due to the amount of positions that will be created in response to increasing consumer demand for health services, protective services, and social services. However, jobs in public administration support services are increasingly being outsourced. In addition, I think it is important to mention that consulting has been one of the fastest-growing sources of public administration jobs in the more recent years.
What skills stand out on Investment Consultant resumes?
Kristina Anderson: That is largely determined by the job you are applying for. I would recommend analyzing the job posting and determining what qualifications are needed for the specific position you are applying for. Besides describing any directly related skills on your resume, make sure to give examples that show your related "soft skills" or transferable skills. Something else to consider is the fact that many jobs are at least partly remote, so employers want to know candidates are comfortable with the technology needed to be able to work virtually. This means it will be important to add a technology/computer skills section that lists the different systems and tools you have experience using. It will also be important to describe on your resume if you do have any prior or current experience working remotely.
Dr. Carol Carter Ph.D.
Chair, Division of Business & Entrepreneurship, Professor of BusinessDavis & Elkins College
Division of Business & Entrepreneurship
Will there be an enduring impact of the coronavirus pandemic on Investment Consultants?
Dr. Carol Carter Ph.D.: Yes, I believe there will be a long-lasting effect of the pandemic on graduates. Much like the Great Depression and WWII affected the attitudes and values of the generation of young people who lived then, today's students will look back at this as the watershed moment in time. Expectations of freshmen, wanting to be independent and on their own, meeting new people and learning new ideas, have had to readjust their thoughts, which has been a struggle for most. Instead of coming face-to-face in the classroom, attending athletic and club events, they now take classes in their dorm rooms, online for the most part, and feel isolated from their peers.
My hope is that the graduates take this opportunity to reevaluate what is important to them and to value personal connections, family traditions, and the compassion to help others who are in need. Profit is essential to a viable business and economy, but graduates also have to realize that people are struggling and as business people they can have a positive effect on people's lives.
What type of skills will young Investment Consultants need?
Dr. Carol Carter Ph.D.: I would say that the ability to listen, to think things through and to not follow an ideology blindly will benefit them to be good leaders and team members. The ability to write well and to express oneself orally are two very useful skill sets. I also believe that the ability to think like an entrepreneur will be in demand, as new technologies change the workforce as we know it today. To be able to see an opportunity in the marketplace and have the vision to bring a new product/service to market will be critical.
What experience really stands out on Investment Consultant resumes?
Dr. Carol Carter Ph.D.: Internships!!! Nothing can replace the experience a student gets when completing a meaningful internship. The student has the opportunity to apply what they've learned in their business courses to real-world problems plus make invaluable contacts and learn the importance of networking to a successful career. I know that a lot of businesses strictly look for graduates who've been class leaders, who have volunteered countless hours during college, and have a 4.0 GPA; however in my opinion if that is all one looks for in a prospective employee they are missing out on some very fine talent.
Will there be an enduring impact of the coronavirus pandemic on Investment Consultants?
Laurence Malone Ph.D.: Yes, but the pandemic will present distinctive opportunities from its challenges. Think of how in-person networking was compromised during the pandemic. Students often leave cultivating long-term personal relationships with career counselors, classmates, alumni, mentors, and faculty until their senior year. There are opportunities to deepen those relationships, now and in the future, virtually. Ask about connecting with alumni in the Economics department. Attend the first in-person alumni event that that you can, even if you secure a great position after graduation. Use your new understandings and capacities for living and learning online to reach out and deepen those relationships. Organize an online event where faculty, classmates, and alumni discuss trends and future developments in the economy. Why not create an event with the theme, "Will there be an enduring impact of the coronavirus pandemic on economics graduates?"
What are the biggest trends we'll see in the Investment Consultant job market given the pandemic?
Sean Edmund Rogers Ph.D.: -Slowed, but recovering, hiring of full-time employees and interns. The pandemic caused many employers to put the brakes on hiring as demand for their products and services dried up. Some employers are beginning to rebound and the economy will eventually return to pre-pandemic levels, but for now opportunities are pretty tight.
-Telework and workplace flexibility. The pandemic has forced many firms to try out telework, including some that were previously opposed to it. To the surprise of many employers, remote work can work just fine if done right. "Done right" means things like ensuring that employees have access to the technology and resources needed to perform their work well (and not completely expecting them to foot the bill for it), or taking into account the need for flexible schedules, for example.
-Similar to telework and considering continued travel restrictions, firms that previously relied on employees from different areas being colocated to get work done, or on their professional being able to meet with clients face-to-face, will need to get creative about how to foster teamwork or deliver the same high-quality services from a distance. Lots of training and organizational support will be required to avoid dips in employee performance and customer satisfaction.
-More and more interviews, even down to final-round interviews, are being conducted virtually. While this is most likely temporary, new entrants to the job market now and in the upcoming months will need to become comfortable with vying for jobs in nontraditional ways. Everyone will need to become quite comfortable with advanced technology use.
-Firms may find it harder to woo professionals during the pandemic. Many individuals are opting to stay put for the time being rather than explore new job opportunities. Given societal and economic uncertainties, some people would rather play it safe until we know more about the public health situation. I don't think firms will necessarily be hurting for talent, especially considering that there are industries facing job losses. But people may not be as mobile as usual for the time being.