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The differences between risk and insurance consultants and claims adjusters can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a risk and insurance consultant, becoming a claims adjuster takes usually requires 2-4 years. Additionally, a risk and insurance consultant has an average salary of $90,307, which is higher than the $51,116 average annual salary of a claims adjuster.
The top three skills for a risk and insurance consultant include financial services, risk assessments and portfolio. The most important skills for a claims adjuster are insurance carriers, auto claims, and customer service.
| Risk And Insurance Consultant | Claims Adjuster | |
| Yearly salary | $90,307 | $51,116 |
| Hourly rate | $43.42 | $24.57 |
| Growth rate | 11% | -6% |
| Number of jobs | 61,774 | 13,221 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 66% |
| Average age | 43 | 44 |
| Years of experience | 6 | 4 |
A risk and insurance consultant is a person whose job is to advise organizations and companies on what might happen in the future and how to deal with it. They advise the management on the next steps and possible outcomes. A risk and insurance consultant does research and calculations and uses that to predict or solve financial or risk issues.
A claim's adjuster is responsible for the handling of the insurance claims and investigating the extent of property damage and processing the business or a person's liability. Claims adjusters have a broad range of duties such as damage inspection to evaluate incident reports, communicating with property owners and spectators as well as referring to legal documents. They must also have excellent analytical and critical-thinking skills to calculate payments and analyze the complexities of multiple sources. Claims adjusters should also provide timely reports for reference and possible disputes.
Risk and insurance consultants and claims adjusters have different pay scales, as shown below.
| Risk And Insurance Consultant | Claims Adjuster | |
| Average salary | $90,307 | $51,116 |
| Salary range | Between $69,000 And $117,000 | Between $40,000 And $64,000 |
| Highest paying City | San Francisco, CA | Los Angeles, CA |
| Highest paying state | Rhode Island | New Jersey |
| Best paying company | McKinsey & Company Inc | Merchants Insurance Group |
| Best paying industry | Insurance | Insurance |
There are a few differences between a risk and insurance consultant and a claims adjuster in terms of educational background:
| Risk And Insurance Consultant | Claims Adjuster | |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Stanford University |
Here are the differences between risk and insurance consultants' and claims adjusters' demographics:
| Risk And Insurance Consultant | Claims Adjuster | |
| Average age | 43 | 44 |
| Gender ratio | Male, 67.7% Female, 32.3% | Male, 45.1% Female, 54.9% |
| Race ratio | Black or African American, 8.6% Unknown, 3.9% Hispanic or Latino, 9.6% Asian, 10.0% White, 67.6% American Indian and Alaska Native, 0.3% | Black or African American, 11.8% Unknown, 4.4% Hispanic or Latino, 16.8% Asian, 5.2% White, 61.2% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 4% | 10% |