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The differences between risk management consultants and senior business 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 senior business consultant. Additionally, a senior business consultant has an average salary of $105,184, which is higher than the $91,520 average annual salary of a risk management consultant.
The top three skills for a risk management consultant include project management, infrastructure and risk assessments. The most important skills for a senior business consultant are data analysis, healthcare, and project management.
| Risk Management Consultant | Senior Business Consultant | |
| Yearly salary | $91,520 | $105,184 |
| Hourly rate | $44.00 | $50.57 |
| Growth rate | 11% | 11% |
| Number of jobs | 122,293 | 144,929 |
| 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 senior business consultant specializes in performing research and analysis to optimize business processes. Their responsibilities revolve around coordinating with different departments to gather necessary data, devising strategies to reduce cost, assess risks, and identify the strength and weaknesses of operations to recommend solutions. They may also train and mentor junior consultants, produce progress reports and presentations, and assist clients through calls and correspondence. Furthermore, as a consultant, it is essential to adhere to the company's policies and regulations, including its vision and mission.
Risk management consultants and senior business consultants have different pay scales, as shown below.
| Risk Management Consultant | Senior Business Consultant | |
| Average salary | $91,520 | $105,184 |
| Salary range | Between $68,000 And $123,000 | Between $81,000 And $136,000 |
| Highest paying City | Jersey City, NJ | Jersey City, NJ |
| Highest paying state | New Jersey | New Jersey |
| Best paying company | Riskmetrics Group Holdings LLC | Anaplan |
| Best paying industry | Insurance | Professional |
There are a few differences between a risk management consultant and a senior business consultant in terms of educational background:
| Risk Management Consultant | Senior Business 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 senior business consultants' demographics:
| Risk Management Consultant | Senior Business Consultant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 66.1% Female, 33.9% | Male, 69.2% Female, 30.8% |
| 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, 7.4% Unknown, 4.4% Hispanic or Latino, 8.4% Asian, 14.2% White, 65.4% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 12% | 12% |