The business consultant invoice is issued for services that assist businesses with general strategy or guidance in a specific area. The consultant is commonly someone with extensive knowledge and hands-on experience in the industry, which makes their input exceedingly valuable.
Table of Contents
- What is a Business Consultant?
- Types of Business Consultants
- Business Consultant Certifications
- Business Consultant Salary & Hourly Pay ($/hr)
A business consultant is hired as an independent contractor to help a business or individual improve day-to-day activities. In larger companies, the consultant may be designated to help with a specific branch of the organization. Within smaller operations, they may assist with larger goals or broad facets of the business. Often times, a business consultant will also act as a venture capitalist by providing financing and investment while helping with the overall vision. The most common method of payment for a consultant is by the hour.
Besides having industry experience, a business consultant benefits greatly by holding certifications or other credentials that further prove their qualifications. The most popular certifications are as follows:
The Project Management Institute (PMI) offers eight (8) different certifications for members and non-members. There are no requirements other than having previously worked in the field for a preset number of hours and a high school diploma or equivalent.
- Website: www.pmi.org/certifications/types
- Requirements: High School Diploma and/or field experience.
- Cost: Dependent on certification ($200 to $600)
- Exam: Dependent on certification (multiple-choice questions that are time-based)
The Association for Supply Chain Management (APICS) offers three (3) types of certifications related to supply chain skills such as Logistics, Transportation, and Distribution (CLTD), Supply Chain Professional (CSCP), and Production and Inventory Management (CPIM).
- Website: www.apics.org/credentials-education
- Requirements: Three (3) years’ experience or bachelor’s degree or another APICS certification.
- Cost: $400 to $1000 depending on the certification.
- Exam: Depends on the certification.
The International Institute for Business Analysis (IIBA) is an organization that offers two (2) certifications to business consultants: the Core Business Analysis Certification and the Specialized Business Analysis Certification.
- Website: www.iiba.org/certification/core-business-analysis-certifications/
- Requirements: 2-3 years’ experience (min. 3750 hours)
- Cost: $160 to $700 depending on certification.
- Exam: 120 multiple choice questions, 3.5 hours to complete.