Exploring the Average Business Strategy Consultant Salary in 2021: Factors to Consider

Are you considering a career as a business strategy consultant? Or maybe you’re looking for insight into how much you can expect to earn in this field. In either case, it’s important to understand the factors that can influence your salary as a business strategy consultant. In this article, we’ll explore the average salary for business strategy consultants in 2021 and the key factors that play a role in determining this figure.

What is a Business Strategy Consultant?

Before we delve into salary details, it’s important to understand the role of a business strategy consultant. In general, these professionals work with companies to develop and implement strategic plans that help them grow and succeed. They may evaluate market trends, review financial data, analyze competitors, and work with stakeholders to develop a plan for achieving the company’s goals.

What is the Average Business Strategy Consultant Salary in 2021?

According to Glassdoor, the national average salary for a business strategy consultant in the United States is $104,688 per year. However, this figure can vary widely based on factors such as location, experience level, industry, and education.

Factors That Can Influence Business Strategy Consultant Salary

Let’s take a closer look at the key factors that can impact a business strategy consultant’s salary:

Location

As with many careers, location can significantly impact a business strategy consultant’s salary. For example, a consultant working in a major metropolitan area such as New York City or San Francisco may earn a higher salary than someone working in a smaller city or rural area.

Experience Level

Experience is another key factor in determining a business strategy consultant’s salary. Those with more years of experience in the field may be able to command a higher salary based on their expertise and track record of success.

Industry

The industry in which a business strategy consultant works can also play a role in salary. For example, consultants working in the healthcare industry or the technology sector may earn higher salaries than those working in other industries.

Education

Finally, education level can impact a business strategy consultant’s salary. Those with advanced degrees such as an MBA or a PhD may have an advantage in the job market and be able to command higher salaries as a result.

Examples of Business Strategy Consultant Salaries by Industry

To give a more detailed understanding of how industry can impact salary for business strategy consultants, let’s take a look at some specific examples:

• In the healthcare industry, the average salary for a business strategy consultant is $107,321 per year.
• In the technology industry, the average salary for a business strategy consultant is $122,079 per year.
• In the financial services industry, the average salary for a business strategy consultant is $97,345 per year.

Conclusion

As you can see, there are many factors that can impact the salary of a business strategy consultant. By understanding these factors and working to develop your expertise in the field, you can position yourself for success and potentially earn a higher salary. Whether you’re just starting out in your career or looking to make a change, the field of business strategy consulting offers many opportunities for growth and advancement.