Introduction:
Business Consultant Salary in US is likely to observe a salary increase of approximately 13% every 15 months. The national average annual increment for all professions combined is 8% granted to employees every 16 months. A person working as a Business Consultant in the United States typically earns around 114,000 USD per year. Salaries range from 55,800 USD (lowest) to 178,000 USD (highest).
This is the average yearly salary including housing, transport, and other benefits. Business Consultant salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
What Degree Should I Get to Become a Business Consultant?
The most common degree for business consultants is a bachelor’s degree 67% of business consultants earn that degree. A close second is a master’s degree with 19% and rounding it off is the associate degree with 8%.
Business Consultant Average Base Pay:
The salaries of Business Consultants in the US range from $16,620 to $447,665, with a median salary of $81,210. The middle 57% of Business Consultants makes between $81,213 and $202,911, with the top 86% making $447,665.
Business Consultant Average Hourly Wage in US:
The average hourly wage (pay per hour) in the United States is 55 USD. This means that the average Business Consultant in the United States earns approximately 55 USD for every worked hour.
Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )
The hourly wage is the salary paid in one worked hour. Usually, jobs are classified into two categories: salaried jobs and hourly jobs.
How much does a Business Consultant make?
The national average salary for a Business Consultant is $79,858 in the United States. Filter by location to see Business Consultant salaries in your area. Business Consultant Salary in US estimates is based on 2,975 salaries submitted anonymously by Business Consultant employees.
The average business consultant salary in the USA is $89,127 per year or $45.71 per hour. Entry-level positions start at $62,401 per year while most experienced workers make up to $127,091 per year.
Business Consultant Salary Comparison by Years of Experience:
- A Business Consultant with less than two years of experience makes approximately 66,100 USD per year.
- While someone with an experience level of between two and five years is expected to earn 85,000 USD per year, 29% more than someone with less than two years of experience.
- Moving forward, an experience level Business Consultant Salary in US between five and ten years lands a salary of 117,000 USD per year, 38% more than someone with two to five years of experience.
- Additionally, Business Consultant(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 145,000 USD per year, 24% more than someone with five to ten years of experience.
- If the experience level is between fifteen and twenty years, then the expected wage is 156,000 USD per year, 7% Business Consultant Salary in US more than someone with ten to fifteen years of experience.
- Lastly, employees with more than twenty years of professional experience get a salary of 166,000 USD per year, 7% more than people with fifteen to twenty years of experience.
Business Consultant Salary Highest paying cities:
| Rank | State | Avg. Salary | Hourly Rate | Job Count |
| 1 | District of Columbia | $120,525 | $57.94 | 658 |
| 2 | Alaska | $131,554 | $63.25 | 181 |
| 3 | New Jersey | $108,866 | $52.34 | 1,629 |
| 4 | Oregon | $102,950 | $49.50 | 727 |
| 5 | Massachusetts | $98,023 | $47.13 | 1,678 |
| 6 | Alabama | $86,580 | $41.63 | 972 |
| 7 | Washington | $110,593 | $53.17 | 936 |
| 8 | Rhode Island | $88,231 | $42.42 | 236 |
| 9 | Connecticut | $96,539 | $46.41 | 578 |
| 10 | North Carolina | $91,915 | $44.19 | 1,552 |
Business Consultant Salary Distribution in US:
The median, the maximum, the minimum, and the range
- Salary Range
Business Consultant salaries in the United States range from 55,800 USD per year (minimum salary) to 178,000 USD per year (maximum salary).
- Median Salary
The median salary is 116,000 USD per year, which means that half (50%) of people working as Business consultants (s) are earning less than 116,000 USD while the other half are earning more than 116,000 USD. The median represents the middle salary value. Business Consultant Salary in US Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.
- Percentiles
Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Business consultants (s) are earning less than 77,400 USD while 75% of them are earning more than 77,400 USD. Also from the diagram, 75% of Business consultants (s) are earning less than 150,000 USD while 25% are earning more than 150,000 USD.
How much tax will you have to pay as a Business Consultant?
For an individual filer in this tax bracket, you would have an estimated average federal tax in 2018 of 24%. After a federal tax rate of 24% has been taken out, Business Consultant Salary in US could expect to have a take-home pay of $81,000/year, with each paycheck equaling approximately $3,375*.
Business Consultant Bonus and Incentive Rates in US:
A Business Consultant Salary in US is considered to be a high bonus-based job due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.
17% of surveyed staff reported that they haven’t received any bonuses or incentives in the previous year while 83% said that they received at least one form of monetary bonus. Those who got bonuses reported rates ranging from 5% to 9% of their annual salary.
FAQs About Business Consultant Salary in US:
How much does a Business Consultant in the United States make?
The national average salary for a Business Consultant is $79,858 per year in the United States. Filter by location to see a Business Consultant Salary in US in your area. Salaries estimates are based on 2975 salaries submitted anonymously by a Business Consultant employee.
What is the highest salary for a Business Consultant in the United States?
The highest salary for a Business Consultant in the United States is $1,33,539 per year.
What is the lowest salary for a Business Consultant in the United States?
The lowest salary for a Business Consultant in the United States is $47,756 per year.
Do business consultants make a lot of money?
The most recent data for 2022 shows that consultants make an average of $6,954 a month. That equates to $83,448 a year. This same research indicates that monthly salaries for consultants can be as high as $16,417 (about $197,000 a year).
What are the requirements to be a business consultant?
A bachelor’s degree in business management, marketing, economics, engineering, or a similar area is often the minimum requirement for becoming a business consultant. Top business consulting firms usually require a master’s degree.
What is the role of a business consultant?
A Business Consultant is a professional who advises, provides information, provides insight, and provides recommendations to help clients reach their goals and solve problems.
Are business consultants in demand?
The U.S. Bureau of Labor Statistics estimates that the demand for business consultants and management analysts will increase by 11% between 2019 and 2029 which is much faster than the U.S. national average.
How many hours do consultants work?
Typically, both single and married consultants average 56.6 hour work weeks, but about a quarter of single consultants routinely put in between 60 and 70 hours per week. About six percent of the responding consultants say they average between 70 and 80 hours a week.
Conclusion:
A Business Consultant Salary in US is a professional who works directly with business owners on developing a business plan and identifying their marketing needs. Business consultants offer business owners a wide range of services, such as supplementing existing staff, providing expertise in a specific market, and influencing other people. To increase revenue in business, business consultants should have experience success with previous business owners. Business consultants must also have a bachelor’s degree in business management and received years of field training.
