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The differences between risk and insurance consultants and total loss specialists 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 total loss specialist takes usually requires 2-4 years. Additionally, a risk and insurance consultant has an average salary of $90,307, which is higher than the $51,718 average annual salary of a total loss specialist.
The top three skills for a risk and insurance consultant include financial services, risk assessments and portfolio. The most important skills for a total loss specialist are customer service, HR, and outbound calls.
| Risk And Insurance Consultant | Total Loss Specialist | |
| Yearly salary | $90,307 | $51,718 |
| Hourly rate | $43.42 | $24.86 |
| Growth rate | 11% | -6% |
| Number of jobs | 61,774 | 33,617 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 60% |
| 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.
As a Total Loss Specialist, your job will involve appraising the damage and determining the salvage value on the total-loss vehicle. You will be tasked with examining the damaged vehicle to ascertain the extent of damage done to its body and structure and other mechanical, electrical, and internal damage. You'd also have to arrange with another appraiser to resolve any disagreement with the shop on the cost of repair after determining the extent of the damage to the vehicle.
Risk and insurance consultants and total loss specialists have different pay scales, as shown below.
| Risk And Insurance Consultant | Total Loss Specialist | |
| Average salary | $90,307 | $51,718 |
| Salary range | Between $69,000 And $117,000 | Between $32,000 And $81,000 |
| Highest paying City | San Francisco, CA | - |
| Highest paying state | Rhode Island | - |
| Best paying company | McKinsey & Company Inc | - |
| Best paying industry | Insurance | - |
There are a few differences between a risk and insurance consultant and a total loss specialist in terms of educational background:
| Risk And Insurance Consultant | Total Loss Specialist | |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 60% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Stanford University |
Here are the differences between risk and insurance consultants' and total loss specialists' demographics:
| Risk And Insurance Consultant | Total Loss Specialist | |
| Average age | 43 | 44 |
| Gender ratio | Male, 67.7% Female, 32.3% | Male, 35.7% Female, 64.3% |
| 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, 14.1% Unknown, 4.4% Hispanic or Latino, 15.7% Asian, 5.4% White, 59.9% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 4% | 10% |