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The differences between risk and insurance consultants and project 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 project 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 $86,654 average annual salary of a project consultant.
The top three skills for a risk and insurance consultant include financial services, risk assessments and portfolio. The most important skills for a project consultant are customer service, project management, and client facing.
| Risk And Insurance Consultant | Project Consultant | |
| Yearly salary | $90,307 | $86,654 |
| Hourly rate | $43.42 | $41.66 |
| Growth rate | 11% | 11% |
| Number of jobs | 61,774 | 113,013 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 67% |
| 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 project consultant is responsible for communicating with the clients for their specific needs, develop strategic plans, and determine project resources to achieve their business goals and objectives. Project consultants are employed across various industries, offering their knowledge and expertise to facilitate clients' requests and propositions. They also collaborate with different development teams to discuss project parameters and analyze opportunities to improve plans and progress efficiency. A project consultant must have excellent communication and critical-thinking skills, responding to clients' inquiries and concerns, and providing recommendations to ensure successful project completion.
Risk and insurance consultants and project consultants have different pay scales, as shown below.
| Risk And Insurance Consultant | Project Consultant | |
| Average salary | $90,307 | $86,654 |
| Salary range | Between $69,000 And $117,000 | Between $59,000 And $126,000 |
| Highest paying City | San Francisco, CA | Newark, NJ |
| Highest paying state | Rhode Island | New Jersey |
| Best paying company | McKinsey & Company Inc | Dell |
| Best paying industry | Insurance | - |
There are a few differences between a risk and insurance consultant and a project consultant in terms of educational background:
| Risk And Insurance Consultant | Project Consultant | |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Northwestern University |
Here are the differences between risk and insurance consultants' and project consultants' demographics:
| Risk And Insurance Consultant | Project Consultant | |
| Average age | 43 | 44 |
| Gender ratio | Male, 67.7% Female, 32.3% | Male, 61.9% Female, 38.1% |
| 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, 7.4% Unknown, 4.4% Hispanic or Latino, 8.5% Asian, 14.4% White, 65.1% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 4% | 12% |