Highest-Paying Consultant Jobs [2023] - Zippia (2024)

Research Summary. Using a combination of public government and company data as well as data gathered from thousands of job postings, the Zippia data team has created average salary estimates for jobs across the US. Using that data set, the team has identified the types of consultants that are the highest paid based on their average annual salaries.

Here is a summary of our findings for the highest-paying types of consultants:

• Senior Management Consultant is the highest-paid type of consultant with an average salary of $128,259 and an average hourly rate of $61.66.

• The second highest-paying type of consultant is principal consultant, with an average salary of $116,478.

• The average consultant salary is $78,912 per year, and the average hourly pay is $37.94.

Table Of Contents: Background | Table | Methodology | FAQs

Background

Choosing a career path can be difficult, and while pay shouldn’t be the only thing you consider in your decision, it is a significant factor. So if you’d like to work as a consultant, it helps to have an idea of what the highest-paid types of consultants are so that you can plan your career progression.

Here are the top salaries for different types of consultants:

1. Senior Management Consultant

   Average Salary: $128,259

   A senior management consultant is an experienced professional who is in charge of a team of management consultants to help an organization solve issues, maximize growth, and improve business performance. Senior management consultants must conduct company research so that they can better understand the organization. They prepare business proposals and presentations as well as identify issues to form hypotheses and solutions. Senior management consultants must also implement recommendations or solutions and ensure that an organization receives the necessary assistance to carry it all out.

2. Principal Consultant

   Average Salary: $116,478

   A principal consultant is responsible for evaluating business’ needs and opportunities, identifying potential leads to create project proposals, and maintaining strong business relationships that would generate revenues and increase the organization’s profitability. Principal consultants must be up-to-date with the current market trends to ensure that the business adapts to the industry’s changes. They also initiate new product development to expand its brand image, working closely with the marketing team for marketing strategies and promotions.

3. Strategy Consultant

   Average Salary: $115,244

   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.

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4. Senior Business Consultant

   Average Salary: $105,184

   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.

5. Program Management Consultant

   Average Salary: $101,157

   A program management consultant is responsible for analyzing project requirements based on clients’ specifications, developing quality improvement techniques, and reviewing project deliverables. Program management consultants work closely with the project team to identify project initiatives and resolve complexities that may arise. They also inspect the resources and materials to be utilized during the project and determine cost-reduction processes without compromising quality and efficiency. A program management consultant coordinates with the clients for progress updates and informs them of any plan adjustments as needed.

Below is a full table of the average pay for various consultant that pay the most followed by a more detailed explanation of our methodology.

Highest-Paying Types Of Consultants

Methodology

Zippia uses publicly published information from government sources such as the Bureau of Labor Statistics (BLS), Foreign Labor Certification Data Center (FLC), and the Office of Personnel Management (OPM) to create its salary estimates.

Our data science team also checks job postings and company-published resources for additional up-to-date salary information for consultants.

Once they’ve gathered the data, the team calculates a weighted average for each job title they’re estimating a salary for. For more details on our salary estimates, you can read the detailed methodology.

Highest-Paying Types Of Consultant Jobs FAQs

1. What is the highest-paid consultant job?

   The highest-paid consultant job is a senior management consultant. Senior Management Consultants earn an average salary of $128,259, which is $ 61.66 hourly.

   A senior management consultant is an experienced professional who is in charge of a team of management consultants to help an organization solve issues, maximize growth, and improve business performance. Senior management consultants must conduct company research so that they can better understand the organization. They prepare business proposals and presentations as well as identify issues to form hypotheses and solutions. Senior management consultants must also implement recommendations or solutions and ensure that an organization receives the necessary assistance to carry it all out.

2. What is a good salary for a consultant?

   A good salary for a consultant is $78,912 or more. The average consultant salary is $78,912, so those making at least $78,912 are earning above-average paychecks.

   Keep in mind, however, that the average consultant salary does fluctuate based on location, as companies will adjust their pay scales based on the cost of living in that area. Research what the average salary is in your area for someone of your expertise and experience level to get a more accurate view on how well you’re being paid.

   In addition, if you’re just starting your career as a consultant, the average entry level salary is $45,510, so don’t base your opinion of your salary on the $78,912 average, as this includes all consultants of all skill and experience levels.

3. Do Consultant jobs pay well?

   Yes, consultant jobs pay well. As in any industry, some consultant jobs pay better than others, but the average consultant salary of $78,912 is times the average national salary of about $44,225 per year.

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   In addition to this, many consultant jobs have high earning potential, with the top 10% of consultants earning $104,398 a year on average.

   Consultants’ salaries will fluctuate based on their experience level, industry, and location, so pay attention to these factors when you’re looking for a job as a consultant. Do your research on the going rate for a consultant in your area with your expertise, and don’t be afraid to negotiate your salary based on that information.

4. Where do consultants get paid the most?

   Consultants get paid the most in New Jersey. In New Jersey, consultants earn an average annual salary of $93,100 and an average hourly wage of $44.76.

   Following NJ, the states with the highest-paid consultants are Massachusetts, District of Columbia, and Connecticut, with average annual salaries of $91,297, $95,430, and $85,585 respectively.

   The cities with the highest-paid consultant salaries are:

   1. Washington, DC – $95,478

   2. Englewood, NJ – $93,181

   3. Boston, MA – $91,356