Strategy consultant vs investment banker

The differences between strategy consultants and investment bankers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a strategy consultant and an investment banker. Additionally, an investment banker has an average salary of $162,715, which is higher than the $115,244 average annual salary of a strategy consultant.

The top three skills for a strategy consultant include healthcare, project management and develop recommendations. The most important skills for an investment banker are financial services, discounted cash flow, and capital markets.

Strategy consultant vs investment banker overview

	Strategy Consultant	Investment Banker
Yearly salary	$115,244	$162,715
Hourly rate	$55.41	$78.23
Growth rate	11%	10%
Number of jobs	70,241	28,460
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 66%	Bachelor's Degree, 69%
Average age	44	43
Years of experience	4	4

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.

What does an investment banker do?

An investment banker is responsible for selling and issuing securities and financial assets to the stock markets to generate money and raise capital for organizations and financial institutions. Investment bankers also work with private clients to advise them of investment options and financial transactions according to the market's condition and clients' interests. They handle the clients' investment portfolios and create propositions for acquisitions and company mergers. An investment banker must have excellent knowledge of the financial and stock industry, as well as having excellent analytical skills to review statistical data and determine the best financial strategies.

Strategy consultant vs investment banker salary

Strategy consultants and investment bankers have different pay scales, as shown below.

	Strategy Consultant	Investment Banker
Average salary	$115,244	$162,715
Salary range	Between $87,000 And $151,000	Between $95,000 And $276,000
Highest paying City	San Francisco, CA	Boston, MA
Highest paying state	Alaska	Alaska
Best paying company	Mayo Clinic	Citi
Best paying industry	Finance	Real Estate

Differences between strategy consultant and investment banker education

There are a few differences between a strategy consultant and an investment banker in terms of educational background:

	Strategy Consultant	Investment Banker
Most common degree	Bachelor's Degree, 66%	Bachelor's Degree, 69%
Most common major	Business	Business
Most common college	Northwestern University	University of Pennsylvania

Strategy consultant vs investment banker demographics

Here are the differences between strategy consultants' and investment bankers' demographics:

	Strategy Consultant	Investment Banker
Average age	44	43
Gender ratio	Male, 63.1% Female, 36.9%	Male, 76.2% Female, 23.8%
Race ratio	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%	Black or African American, 5.5% Unknown, 4.1% Hispanic or Latino, 11.5% Asian, 12.4% White, 66.2% American Indian and Alaska Native, 0.2%
LGBT Percentage	12%	6%

Differences between strategy consultant and investment banker duties and responsibilities

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.

Investment banker example responsibilities.

Utilize Bloomberg system and company proprietary research to actively monitor portfolios and manage trading activities to achieve customers' goals.
Provide service for existing brokerage accounts, manage accounts, annuities, and securities-base lines of credit.
Attain NMLS identification number for mortgage origination.
Generate reporting data from Salesforce platform to facilitate growth and manage firm operations.
Manage customer portfolios, service relationships, and used profiling analysis tools to identify cross-selling opportunities.
Manage a variety of internal initiatives including merchandising, cross-selling, customer retention programs and promotional campaigns.

Strategy consultant vs investment banker skills

Common strategy consultant skills

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

Common investment banker skills

Financial Services, 6%
Discounted Cash Flow, 6%
Capital Markets, 6%
Financial Statements, 6%
Client Relationships, 4%
Securities, 4%

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Strategy Consultant vs Investment Banker

Updated January 8, 2025

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