What Is the Salary for a Functional Consultant?
Functional consultants, also known as management consultants, are responsible for how a business functions. A functional consultant is responsible for the daily operation of a business. This might mean creating systems for hiring employees, systems for shipping products, or systems for managing advertising.
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Salary
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Nationally, the Bureau of Labor Statistics reported that as of May 2008 a functional consultant earned an average of $82,920 per year and an average hourly wage of $39.87.
Employment by Industry
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The Bureau of Labor Statistics reported the industries with the highest level of employment of functional consultants, in raw numbers.
"Management, Scientific, and Technical Consulting Services" has the highest average wage listed at $96,420 per year; "The Federal Executive Branch" comes next, at $80,140 per year; "State Government" follows at $56,480; "Computer Systems Design and Related Services" is listed at $88,030; and lastly, "Management of Companies and Enterprises" is listed at $80,770.
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Employment Rate by State
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The Bureau of Labor Statistics lists the states with the highest concentration of functional consultants. The District of Columbia takes first at 2.4 percent. Virginia is second at 1.07 percent; Maryland third, at 0.69 percent; Georgia fourth, at 0.69 percent; and Massachusetts fifth at 0.62 percent.
Average salaries for these states are: Massachusetts, at $96,620 per year; Virginia, at $90,380; Georgia, at $89,650; the District of Columbia at $82,960, and Maryland at $81,300.
Salary by Industry
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Some industries pay functional consultants more than others. The Bureau of Labor Statistics reported the top five highest-paying industries for functional consultants. "Foundries" took the top spot at $134,790 per year. "Furniture Stores" took the second-place spot at $115,410 per year. The industry of "Building Finishing Contractors" ranked third at $108,870 per year. The industries of "Offices of Dentists" and "General Rental Centers" filled the final top-five spots at $100,040 and $98,930 respectively.
Salary by State
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Location plays an important role in deciding salary. The states with the highest average wages for functional consultants are New Hampshire, at $96,710 per year; Massachusetts, at $96,620; New York, at $92,970; Virginia at $90,380; and Colorado at $90,020. In some states, high salaries may be offset, at least partially, by higher costs of living.
Job Outlook
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The Bureau of Labor Statistics expected employment for functional consultants to rise by 22 percent between 2006 and 2016, because of growth in the structural changes within businesses. These changes include activities such as restructuring, conforming to new regulations and integrating new technology.
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References
- Photo Credit Image by Flickr.com, courtesy of borman818
