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The differences between risk and insurance consultants and 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 risk and insurance consultant, becoming a consultant takes usually requires 2-4 years. Additionally, a risk and insurance consultant has an average salary of $90,307, which is higher than the $78,912 average annual salary of a consultant.
The top three skills for a risk and insurance consultant include financial services, risk assessments and portfolio. The most important skills for a consultant are customer service, strong analytical, and project management.
| Risk And Insurance Consultant | Consultant | |
| Yearly salary | $90,307 | $78,912 |
| Hourly rate | $43.42 | $37.94 |
| Growth rate | 11% | 11% |
| Number of jobs | 61,774 | 171,733 |
| Job satisfaction | - | 4 |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 64% |
| 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.
Consultants are individuals who were tapped by a company or an organization to work on a specific activity, depending on their field of expertise. They act as guides for the organization in undertaking projects that are related to their field. Consultants would usually assist organizations in planning, often giving advice when the need arises. They would, at times, take the lead in activities that involve data gathering and interpretation of data gathering results so that they can provide solid recommendations on actions that the organization may undertake. They may also guide the organization in implementing any changes brought about by their consultancy and in evaluating the effectiveness of the changes.
Risk and insurance consultants and consultants have different pay scales, as shown below.
| Risk And Insurance Consultant | Consultant | |
| Average salary | $90,307 | $78,912 |
| Salary range | Between $69,000 And $117,000 | Between $58,000 And $107,000 |
| Highest paying City | San Francisco, CA | Washington, DC |
| Highest paying state | Rhode Island | New Jersey |
| Best paying company | McKinsey & Company Inc | L.E.K. Consulting |
| Best paying industry | Insurance | Technology |
There are a few differences between a risk and insurance consultant and a consultant in terms of educational background:
| Risk And Insurance Consultant | Consultant | |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 64% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Northwestern University |
Here are the differences between risk and insurance consultants' and consultants' demographics:
| Risk And Insurance Consultant | Consultant | |
| Average age | 43 | 44 |
| Gender ratio | Male, 67.7% Female, 32.3% | Male, 58.4% Female, 41.6% |
| 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, 7.8% Unknown, 4.5% Hispanic or Latino, 8.7% Asian, 13.8% White, 65.0% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 4% | 12% |