The business consultant invoice is for services that assist a business related to strategy or guidance in a specific area. The consultant is considered an expert in the field they are providing advice. The consultant is commonly someone with extensive knowledge in the industry with hands-on experience making the consultant’s advice valuable. A business consultant is typically paid by the hour per a business consultant agreement.
Table of Contents
- What is a Business Consultant?
- Types of Business Consultants
- Business Consultant Certifications
- Business Consultant Salary & Hourly Rate ($/hr)
A business consultant is hired as an independent contractor to come in and help a business or organization with day-to-day activities. Larger companies may designate the consultant to help with a specific branch of the organization. For smaller operations, to help with the larger goals and assist in all facets of the business. Often a business consultant will also act as a venture capitalist by providing financing and investment while helping with the overall vision.
A business consultant benefits significantly by having certifications or other credentials stating why they are qualified to give advice. The most popular certifications are as follows:
The Project Management Institute (PMI) offers eight (8) different certifications for a member and non-member. There are no requirements other than work experience 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 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: 3 years of experience or a 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.