The aim of this article is to put forth the details related to consultant salary, consultant average salary and also consultant job description. Read on to know more.
Consultants are highly placed professionals who give their useful suggestions for the business development of the firm for which they work. Consultants are of different types – information technology (I.T.) consultant, learning consultant and business consultant. The salary of consultants ha been growing steadily over the past few years due to the growing demand for their skills. Before we discuss the salaries for different types of consultants, let us first acquaint ourselves with consultant job description.
Job Description
People who work in business consulting participate actively in important processes such as planning, marketing, sales, management and execution in the company in which they work. They give some useful suggestions to enhance the business and earnings of the company. Problem solving or troubleshooting is a vital aspect of their job. The job of preparing the educational programs and training employees effectively is undertaken by the learning consultants. On the other hand, the task of an information technology consultant is to impart knowledge about the different computer systems to their employers. This kind of consultants work closely with their clients and solve problems in their systems and make sure that they run efficiently.
All consultants need to have a bachelor or master’s degree in business administration from reputed institutes. Problem solving abilities, communication skills, logical thinking abilities, ability to work in a team are the qualities which are essential in a good consultant.
Salary Details
A consultant’s salary range depends largely on his educational qualifications, number of years of practical experience, skills and the location of work. Consultants working for large multi-national corporations are bound to earn more than those working for small firms. The salaries for business consultants with a bachelor’s degree can be in the wide range of USD 45,000 to USD 75,000 per year depending on the kind of their organization and their experience. Business consultants with a master’s degree can easily earn anything in the range of USD 50,000 to USD 1,75,000 per year. Highly experienced senior level business consultants earn around USD 2,50,000 per year or more which places them in the high earning bracket. Business consultants can earn much more than people engaged in several other professions. Business consultants working in places like New York earn a decent salary though cost of living is quite high here.
Information technology consultants too are among highly paid professionals. I.T. consultants who have just entered this field can easily command an initial salary of USD 50,000 to USD 60,000 per year if they pass out from a reputed university. For those who have an experience of up to four years, earning anything between USD 50,000 to USD 75,000 per year will not be difficult. Consultant salary for these professionals with experience of seven to nine years can be between USD 65,000 to USD 95,000 per year. I.T. consultants with more than ten years of experience can certainly earn more than USD 1,00,000 per year. As per statistics, learning consultants can earn an average salary between USD 50,000 to USD 70,000 per year. Salary for learning consultants with more than five years of experience can be between USD 65,000 to USD 90,000 per year.
From the information on consultant salary, educational qualifications needed and job description, we conclude that this is a lucrative career option for youngsters.