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The differences between market research consultants and business consultants can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a market research consultant, becoming a business consultant takes usually requires 2-4 years. Additionally, a business consultant has an average salary of $87,214, which is higher than the $85,073 average annual salary of a market research consultant.
The top three skills for a market research consultant include client facing, risk management and powerpoint. The most important skills for a business consultant are data analysis, project management, and strong analytical.
| Market Research Consultant | Business Consultant | |
| Yearly salary | $85,073 | $87,214 |
| Hourly rate | $40.90 | $41.93 |
| Growth rate | 19% | 11% |
| Number of jobs | 76,424 | 128,033 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 67% |
| Average age | 37 | 44 |
| Years of experience | 6 | 4 |
A market research consultant specializes in developing and recommending strategies to optimize a company's marketing operations. They perform extensive market research and analysis, gather and analyze client feedback, spearhead surveys and studies to determine how the current marketing projects affect the consumers, and develop social media techniques to raise brand awareness and public interest. Using their research findings, a market research consultant develops conclusions and recommendations that adhere to the company's goals. Moreover, there are instances when a market research consultant participates in planning and creating marketing programs and materials.
A business consultant is an individual who works directly with business owners on developing a business plan and identifying their marketing needs. Business consultants offer business owners a wide range of services, such as supplementing existing staff, provide expertise in a specific market, and influencing other people. To increase revenue in business, business consultants should have experience success with the previous business owners. Business consultants must also have a bachelor's degree in business management and received years of field training.
Market research consultants and business consultants have different pay scales, as shown below.
| Market Research Consultant | Business Consultant | |
| Average salary | $85,073 | $87,214 |
| Salary range | Between $54,000 And $132,000 | Between $64,000 And $117,000 |
| Highest paying City | Renton, WA | San Francisco, CA |
| Highest paying state | Washington | Alaska |
| Best paying company | Invesco | ZS |
| Best paying industry | - | Technology |
There are a few differences between a market research consultant and a business consultant in terms of educational background:
| Market Research Consultant | Business Consultant | |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Georgia | Northwestern University |
Here are the differences between market research consultants' and business consultants' demographics:
| Market Research Consultant | Business Consultant | |
| Average age | 37 | 44 |
| Gender ratio | Male, 53.1% Female, 46.9% | Male, 62.8% Female, 37.2% |
| Race ratio | Black or African American, 4.8% Unknown, 4.9% Hispanic or Latino, 11.4% Asian, 14.5% White, 64.2% American Indian and Alaska Native, 0.1% | Black or African American, 8.0% Unknown, 4.5% Hispanic or Latino, 8.9% Asian, 13.4% White, 65.1% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 10% | 12% |