Financial Consultants
Overview
Introduction
Financial consultants provide expertise and advice on a wide range of financial issues such as capital budgeting, project valuation, financial information integrity, profit-and-loss reporting, risk management and insurance engagements, mergers and acquisitions, business valuation, global finance operations, general tax issues, tax and treasury optimization, corporate restructuring, and compliance with federal laws such as the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Inflation Reduction Act.
Quick Facts
Median Salary
Employment Prospects
Minimum Education Level
Experience
Skills
Personality Traits
Earnings
Many financial consultants are employed by management consulting firms. Management consultants had median annual earnings of $99,410 in May 2023, according to the U.S. Department of Labor. Ten percent of consultants earned less than $57,840, and 10 percent earned $172,280 or more. Earnings for financial and investment analysts were slightly higher, ranging from $60,830 to $175,840. Consultants ...
Work Environment
Financial consultants at top firms earn generous salaries and have great benefits, but the trade-off for these perks includes long hours (almost 30 percent of consultants work more than 40 hours per week, but the hours are flexible), frequent travel, and occasional high levels of stress as consultants work to meet deadlines and satisfy the sometimes 24/7 demands of clients. On the other hand, a...
Outlook
Job opportunities in the management consulting industry (a major employer of financial consultants) are expected to grow by 11 percent from 2023 through 2033, according to the U.S. Department of Labor (DOL), or much faster than the average for all careers. Employment of financial analysts in the management consulting field is projected to grow 13.3 percent through the same period. The DOL says ...
