Types of Banking Consultants

• Bank consultants will tend to fall into three main categories: economic consultants, analysts and management consultants. Economic consultants will study the distribution of resources in societies and general trends in international politics, financial activity, investment, productivity and business costs. They deal with large issues that tend to effect entire nations, and even the globe, by studying a wide variety of data about a particular financial issue. Bank analysts, on the other hand, look at a more specific issue, such as the performance of a particular investment type and its likely performance in the near future. This type of consultation is essential for banks to make investment decisions wisely. Finally, management consultants will help banks structure themselves and organize their operations most efficiently by analyzing how the company employs people and makes decisions. Each of these consultants has a different educational background and earns a different salary.
  
  

Economic Consultant Salaries

• Economic consultants earned a median wage of $121,350 in May 2010, according to a survey conducted by the Bureau of Labor Statistics, a federal research division. These consultants could work inside and outside of banks while offering their services to banks, who often employ external consultant firms such as Accenture and KPMG. Economists working within central banks earned slightly more -- a median wage of $125,790, according to the 2010 BLS survey.
  
  

Financial Analyst Salaries

• The May 2010 survey conducted by the BLS concluded that financial analysts earned a median wage of $74,350, with analysts working in financial investment firms such as investment banks earning the highest -- a mean wage of $112,640. Unlike economists, however, financial analysts earned the least in central banks -- a mean wage of $77,190.
  
  

Bank Management Consulting Salaries

• Management consultants earn an average of $50,000 to 65,000 for an entry-level management consultant with a Bachelor's degre, according to Managementconsulted.com. MBA holders can expect to earn significantly more, with base salaries starting at $110,000 to $140,000. These management consultants earn much less because they will almost always work in outside companies, whose services will be contracted by the banks themselves, so they are not technically bankers or working within the banking sector.