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The differences between risk management consultants and business analyst-consultants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a risk management consultant and a business analyst-consultant. Additionally, a risk management consultant has an average salary of $91,520, which is higher than the $90,127 average annual salary of a business analyst-consultant.
The top three skills for a risk management consultant include project management, infrastructure and risk assessments. The most important skills for a business analyst-consultant are strong analytical, business process, and data analysis.
| Risk Management Consultant | Business Analyst-Consultant | |
| Yearly salary | $91,520 | $90,127 |
| Hourly rate | $44.00 | $43.33 |
| Growth rate | 11% | 11% |
| Number of jobs | 122,293 | 166,560 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 69% |
| Average age | 44 | 44 |
| Years of experience | 4 | 4 |
A Risk Management Consultant is responsible for identifying potential risks that may affect the company's performance and strategize techniques to mitigate risks. Risk management consultants evaluate the operational processes and ensure adherence to business requirements and regulations. They also identify opportunities that would increase the company's brand image to the market and generate more revenue resources to improve profitability. A Risk Management Consultant facilitates training programs and activities for the employees and implements policies to prevent operational delays and process failures.
A business analyst-consultant is responsible for overseeing the project management and ensuring that the operations meet the agreed-upon project deliverables. Business analyst-consultants closely coordinate with the clients for their specifications and requirements, monitoring the resources and processes for the project completion, and aligning those to the clients' budget goals. A business analyst-consultant helps the development team on strategizing techniques for brand promotions with minimal costs with maximum quality and productivity. They should have excellent communication and organizational skills, especially on identifying business opportunities to drive revenues and increase profitability.
Risk management consultants and business analyst-consultants have different pay scales, as shown below.
| Risk Management Consultant | Business Analyst-Consultant | |
| Average salary | $91,520 | $90,127 |
| Salary range | Between $68,000 And $123,000 | Between $66,000 And $122,000 |
| Highest paying City | Jersey City, NJ | Washington, DC |
| Highest paying state | New Jersey | California |
| Best paying company | Riskmetrics Group Holdings LLC | BNY Mellon |
| Best paying industry | Insurance | Finance |
There are a few differences between a risk management consultant and a business analyst-consultant in terms of educational background:
| Risk Management Consultant | Business Analyst-Consultant | |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 69% |
| Most common major | Business | Business |
| Most common college | Northwestern University | Northwestern University |
Here are the differences between risk management consultants' and business analyst-consultants' demographics:
| Risk Management Consultant | Business Analyst-Consultant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 66.1% Female, 33.9% | Male, 53.1% Female, 46.9% |
| Race ratio | Black or African American, 7.8% Unknown, 4.5% Hispanic or Latino, 8.7% Asian, 14.4% White, 64.5% American Indian and Alaska Native, 0.2% | Black or African American, 7.5% Unknown, 4.4% Hispanic or Latino, 8.5% Asian, 14.5% White, 64.9% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 12% | 12% |