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Strategy consultant hiring summary. Here are some key points about hiring strategy consultants in the United States:
Here's a step-by-step strategy consultant hiring guide:
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.
The strategy consultant hiring process starts by determining what type of worker you actually need. Certain roles might require a full-time employee, whereas part-time workers or contractors can do others.
You should also consider the ideal background you'd like them a strategy consultant to have before you start to hire. For example, what industry or field would you like them to have experience in, what level of seniority or education does the job require, and how much it'll cost to hire a strategy consultant that fits the bill.
Here's a comparison of strategy consultant salaries for various roles:
| Type of Strategy Consultant | Description | Hourly rate |
|---|---|---|
| Strategy Consultant | Management analysts, often called management consultants, propose ways to improve the efficiency of an organization. They advise managers on how to make organizations more profitable through reduced costs and increased revenues. | $41-72 |
| Manager, Strategy | A strategy manager is a professional who reviews a company's objectives for growth and works with executives to formulate actionable plans to achieve these objectives. To make comprehensive recommendations, strategy managers must conduct data analysis of the organization as well as the overall industry... Show more | $37-73 |
| Business Development Consultant | The role of business consultants is to provide an analysis of a company on its business practices and make recommendations for long-term goals. This role is also connected with various duties and responsibilities, including reviewing the company's financial statements, engaging in research on how to improve the company's offers, and developing new business models... Show more | $25-65 |
Including a salary range in your strategy consultant job description is one of the best ways to attract top talent. A strategy consultant can vary based on:
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | California | $140,688 | $68 |
| 2 | Washington | $129,682 | $62 |
| 3 | Massachusetts | $128,837 | $62 |
| 4 | District of Columbia | $126,314 | $61 |
| 5 | Maryland | $122,282 | $59 |
| 6 | New York | $121,911 | $59 |
| 7 | Texas | $120,577 | $58 |
| 8 | New Jersey | $118,531 | $57 |
| 9 | Georgia | $116,436 | $56 |
| 10 | Oregon | $115,982 | $56 |
| 11 | North Carolina | $115,823 | $56 |
| 12 | Connecticut | $115,028 | $55 |
| 13 | Pennsylvania | $114,776 | $55 |
| 14 | Virginia | $113,917 | $55 |
| 15 | Florida | $112,819 | $54 |
| 16 | Arizona | $112,028 | $54 |
| 17 | Colorado | $111,025 | $53 |
| 18 | Utah | $109,975 | $53 |
| 19 | Illinois | $108,573 | $52 |
| 20 | Michigan | $104,291 | $50 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Mayo Clinic | $149,562 | $71.90 | |
| 2 | $144,490 | $69.47 | 28 | |
| 3 | ZS | $143,737 | $69.10 | 53 |
| 4 | McChrystal Group | $131,340 | $63.14 | |
| 5 | Microsoft | $130,114 | $62.55 | 14 |
| 6 | Amazon | $129,811 | $62.41 | 131 |
| 7 | GLG | $128,533 | $61.79 | |
| 8 | Kaiser Permanente | $127,303 | $61.20 | 90 |
| 9 | Ernst & Young | $126,191 | $60.67 | 740 |
| 10 | Invesco | $124,745 | $59.97 | 2 |
| 11 | State Street | $124,019 | $59.62 | |
| 12 | Putnam Associates | $123,850 | $59.54 | |
| 13 | Perkins & Co | $123,569 | $59.41 | |
| 14 | CVS Health | $123,125 | $59.19 | 504 |
| 15 | Kronos Incorporated | $121,737 | $58.53 | |
| 16 | Salesforce | $120,420 | $57.89 | 2 |
| 17 | Santander Bank | $120,272 | $57.82 | |
| 18 | Toyota Motor Manufacturing Kentucky | $119,859 | $57.62 | |
| 19 | MX | $119,841 | $57.62 | 1 |
| 20 | Grant Thornton | $117,650 | $56.56 | 15 |
A strategy consultant job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. To help get you started, here's an example of a strategy consultant job description:
There are various strategies that you can use to find the right strategy consultant for your business:
Your first interview with strategy consultant candidates should focus on their interest in the role and background experience. As the hiring process goes on, you can learn more about how they'd fit into the company culture in later rounds of interviews.
It's also good to ask about candidates' unique skills and talents. You can move on to the technical interview if a candidate is good enough for the next step.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you have selected a candidate for the strategy consultant position, it is time to create an offer letter. In addition to salary, the offer letter should include details about benefits and perks that are available to the employee. Ensuring your offer is competitive is vital, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and it is important to be open to discussion and reach a mutually beneficial agreement. After the offer has been accepted, it is a good idea to formalize the agreement with a contract.
It's also important to follow up with applicants who do not get the job with an email letting them know that the position is filled.
After that, you can create an onboarding schedule for a new strategy consultant. Human Resources and the hiring manager should complete Employee Action Forms. Human Resources should also ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc., and that new employee files are created.
Hiring a strategy consultant comes with both the one-time cost per hire and ongoing costs. The cost of recruiting strategy consultants involves promoting the job and spending time conducting interviews. Ongoing costs include employee salary, training, benefits, insurance, and equipment. It is essential to consider the cost of strategy consultant recruiting as well the ongoing costs of maintaining the new employee.
You can expect to pay around $115,244 per year for a strategy consultant, as this is the median yearly salary nationally. This can vary depending on what state or city you're hiring in. If you're hiring for contract work or on a per-project basis, hourly rates for strategy consultants in the US typically range between $41 and $72 an hour.