Risk management consultant vs strategy consultant

The differences between risk management consultants and strategy 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 strategy consultant. Additionally, a strategy consultant has an average salary of $115,244, 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 strategy consultant are healthcare, project management, and develop recommendations.

Risk management consultant vs strategy consultant overview

	Risk Management Consultant	Strategy Consultant
Yearly salary	$91,520	$115,244
Hourly rate	$44.00	$55.41
Growth rate	11%	11%
Number of jobs	122,293	70,241
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 65%	Bachelor's Degree, 66%
Average age	44	44
Years of experience	4	4

What does a risk management consultant do?

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.

What does a strategy consultant do?

A strategy consultant specializes in examining and analyzing business processes to identify areas needing improvement, ensuring to provide strategies for optimal performance. A strategy consultant may work as a member of a company or as a freelancer. Typically, their responsibilities revolve around discussing business vision and goals with clients, assessing the workflow and the workforce of a company, observing competitors, identifying risks, and recommending strategies for profitable growth and customer satisfaction. Furthermore, as a strategy consultant, it is essential to adhere to the company's vision and mission throughout the process.

Risk management consultant vs strategy consultant salary

Risk management consultants and strategy consultants have different pay scales, as shown below.

	Risk Management Consultant	Strategy Consultant
Average salary	$91,520	$115,244
Salary range	Between $68,000 And $123,000	Between $87,000 And $151,000
Highest paying City	Jersey City, NJ	San Francisco, CA
Highest paying state	New Jersey	Alaska
Best paying company	Riskmetrics Group Holdings LLC	Mayo Clinic
Best paying industry	Insurance	Finance

Differences between risk management consultant and strategy consultant education

There are a few differences between a risk management consultant and a strategy consultant in terms of educational background:

	Risk Management Consultant	Strategy Consultant
Most common degree	Bachelor's Degree, 65%	Bachelor's Degree, 66%
Most common major	Business	Business
Most common college	Northwestern University	Northwestern University

Risk management consultant vs strategy consultant demographics

Here are the differences between risk management consultants' and strategy consultants' demographics:

	Risk Management Consultant	Strategy Consultant
Average age	44	44
Gender ratio	Male, 66.1% Female, 33.9%	Male, 63.1% Female, 36.9%
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%

Differences between risk management consultant and strategy consultant duties and responsibilities

Risk management consultant example responsibilities.

Lead clients in establishing information security policies and procedures to establish SOX compliance.
Analyze and manage implementation of operational and organizational structures and technology architectures in addition to ERP package selection.
Manage a team responsible for designing service-orient application architecture, standards and best practices guidelines, security and data access frameworks.
Conduct data-mining training sessions using SAS for managers and support personnel at major financial institutions.
Correct audit deficiencies to be GAAP compliant.
Develop accurate and reliable financial reports that comply with GAAP.

Strategy consultant example responsibilities.

Lead project to ensure integration of CMS and other regulations (HIPAA etc . )
Achieve SOX compliance requirements across organization.
Manage the remediation process using SDLC methodology.
Develop and manage all front-of-house operations / logistics including guest control planning, security, celebrity appearances and executive presentations.
Develop and manage value-based pricing strategy that maximize profitability and marketability of limited-inventory advertising portfolio.
Provide business development and growth direction to technology focuse entrepreneurs and small businesses.

Risk management consultant vs strategy consultant skills

Common risk management consultant skills

Project Management, 9%
Infrastructure, 8%
Risk Assessments, 6%
NIST, 5%
Internal Controls, 5%
Healthcare, 5%

Common strategy consultant skills

Healthcare, 7%
Project Management, 6%
Develop Recommendations, 6%
Client Facing, 5%
Market Research, 5%
Business Development, 4%

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Risk Management Consultant
Risk Management Consultant vs Strategy Consultant

Updated January 8, 2025

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