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The differences between management consultants and business analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a management consultant and a business analyst. Additionally, a management consultant has an average salary of $99,360, which is higher than the $74,431 average annual salary of a business analyst.
The top three skills for a management consultant include healthcare, project management and portfolio. The most important skills for a business analyst are project management, data analysis, and business analysis.
| Management Consultant | Business Analyst | |
| Yearly Salary | $99,360 | $74,431 |
| Hourly rate | $47.77 | $35.78 |
| Growth Rate | 11% | 9% |
| Number Of Jobs | 153,045 | 170,514 |
| Job Satisfaction | - | 4 |
| Most Common Degree | Bachelor's Degree, 67% | Bachelor's Degree, 71% |
| Average Age | 44 | 44 |
| Years Of Experience | 4 | 4 |
A management consultant's responsibility focuses on conducting an in-depth analysis of a company or business, including its target market. Through their findings, they can devise strategies that will help the business grow and attain a significant profit. There are also instances when a management consultant must solve particular issues that will require them to investigate the problem, assess damages, identify risks, and recommend the best solutions to take. Furthermore, a management consultant must adhere to the company's vision, mission, and policies at all times.
Business analysts are employees who are responsible for interpreting business data and coming up with business solutions. They are well-versed in whatever business the company is in, and they have strong business acumen. They collect data related to the business and then interpret and analyze the data. Business analysts should be able to conduct different levels of analyses and must also be able to create a sound study. Once the analysis is done, they provide recommendations or strategic direction to decision-makers that will help the business become sustainable and grow.
Management consultants and business analysts have different pay scales, as shown below.
| Management Consultant | Business Analyst | |
| Average Salary | $99,360 | $74,431 |
| Salary Range | Between $72,000 And $136,000 | Between $53,000 And $103,000 |
| Highest Paying City | Jersey City, NJ | Mountain View, CA |
| Highest Paying State | New Jersey | Washington |
| Best Paying Company | Apple | The Citadel |
| Best Paying Industry | Technology | Finance |
There are a few differences between a management consultant and a business analyst in terms of educational background:
| Management Consultant | Business Analyst | |
| Most Common Degree | Bachelor's Degree, 67% | Bachelor's Degree, 71% |
| Most Common Major | Business | Business |
| Most Common College | Northwestern University | Stanford University |
Here are the differences between management consultants' and business analysts' demographics:
| Management Consultant | Business Analyst | |
| Average Age | 44 | 44 |
| Gender Ratio | Male, 65.9% Female, 34.1% | Male, 53.9% Female, 46.1% |
| Race Ratio | Black or African American, 8.1% Unknown, 4.5% Hispanic or Latino, 8.9% Asian, 13.6% White, 64.8% American Indian and Alaska Native, 0.2% | Black or African American, 6.2% Unknown, 4.7% Hispanic or Latino, 8.8% Asian, 12.0% White, 67.7% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 12% | 11% |