- Jeremy Greenbaum
- Mar 18
- 9 min read
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Consulting is a flexible and rewarding career path that lets you turn your skills and expertise into profit. You can use it to boost your income start a consulting business or even build a full-time career. Success as a consultant isn’t just about what you know—it’s about how you share your expertise, connect with clients and deliver results.
This guide has everything you need to know about making money as a consultant—boosting your earnings, taking extra courses or gaining experience through volunteering. We’ll walk you through starting out as a solo consultant, with tips on tapping into your personal network. You’ll also learn about different revenue models to build a steady profitable income.
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12 ways to make money as a consultant
01. Strategy consulting
Strategy consulting involves advising organizations on high-level decisions to achieve their business objectives. As a consultant in this field, you analyze market trends, competitor behavior and internal processes to develop strategic recommendations. This is a lucrative avenue as businesses value strategic insights to navigate competitive landscapes, enhance operational efficiency and achieve long-term success.
02. Management consulting
Management consultants focus on improving organizational performance by identifying and solving management and business-related issues. Their expertise lies in optimizing processes, implementing effective structures and fostering organizational change. This is a profitable consultancy niche as companies seek external guidance to enhance their overall efficiency, adapt to market changes and drive sustainable growth.
03. Financial consulting
Financial consultants provide expertise in financial management, investment strategies and risk mitigation. Advising businesses and individuals on budgeting, investment planning and financial decision-making, financial consultants play a crucial role in wealth management. This field is lucrative as clients value professional advice in navigating complex financial landscapes and optimizing their financial portfolios.
04. Marketing consulting
Marketing consultants assist businesses in developing and implementing effective marketing strategies. They analyze market trends, consumer behavior and competitor activities to recommend targeted marketing approaches. Given the importance of effective marketing in business success, marketing consulting is a lucrative field and a great way to make money online as companies seek expert guidance to build brand awareness, attract customers and drive sales.
05. IT consulting
IT consultants provide expertise in technology-related solutions, helping businesses optimize their IT infrastructure, software applications and digital security. Given the rapid evolution of technology, companies often require external guidance to stay competitive and secure. IT consulting is a profitable venture as organizations seek expert advice to enhance their technological capabilities, streamline operations and ensure data security.
06. Human resources consulting
Human Resources consultants specialize in optimizing workforce management, employee relations and organizational culture. Businesses often turn to HR consultants to improve recruitment processes, talent development and employee engagement. This is a lucrative consulting niche as companies recognize the importance of a skilled and motivated workforce in achieving their business objectives.
Learn more: Recruitment website template
07. Social media consulting
Social media consultants help businesses leverage digital platforms for brand promotion, customer engagement and market outreach. Given the pervasive influence of social media, companies seek expert advice to navigate these platforms strategically. Social media consulting is lucrative as businesses aim to build and maintain a strong online presence, connect with their target audience and drive customer loyalty.
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08. Brand strategy consulting
Brand strategy consultants specialize in developing and enhancing brand identity, positioning and communication strategies. According to Yaya Aaronsohn, head of Brand Maker at Wix, “At its core, branding hinges on trust. Think of it as a relationship between two individuals: the customer and the brand, which represents the business.”
Businesses recognize the value of a strong brand in creating customer loyalty and differentiating themselves in the market. Zhoosh Creative is an example of a brand strategy consulting agency that offers guidance to building a compelling brand image. Brand strategy consulting is lucrative, as companies seek to maintain a message that resonates with their target audience.
09. Public relations consulting
Public Relations consultants focus on managing and enhancing an organization's reputation through effective communication with the public and media. Businesses value PR consultants to navigate crises, build positive relationships with stakeholders and maintain a favorable public image. This consultancy is lucrative as companies recognize the impact of public perception on their overall success.
10. Event planning consulting
Event planning consultants assist businesses in organizing and executing successful events, conferences and promotional activities. With businesses increasingly using events for brand promotion and client engagement, event planning consultants are in demand. This is a lucrative field as companies seek expert assistance in creating memorable and impactful events that align with their goals.
11. Health and wellness consulting
Health and wellness consultants provide expertise on promoting employee well-being, implementing workplace wellness programs and advising on healthy lifestyle initiatives. In an era where employee health is recognized as crucial to productivity, businesses value health and wellness consultants. Mikaela Reuben is a great example of a health consultant who shares recipes on her website. This is a lucrative consulting niche, as organizations prioritize the physical and mental well-being of their workforce.
12. Technology consulting
Technology consultants offer guidance on the adoption and optimization of technology solutions to meet business objectives. With the continuous evolution of technology, companies seek expertise in areas such as cloud computing, cybersecurity and digital transformation. Technology consulting is lucrative as businesses aim to stay competitive by leveraging the latest technological advancements for operational efficiency and innovation.
Starting as a solo consultant
Starting a solo consulting business? Your network is a great place to begin. Many consultants find their first clients through former colleagues, industry contacts or friends who could use their expertise. Think about who might benefit from your skills and start reaching out.
Next, take a good look at your finances and figure out how much risk you’re comfortable with. Some start consulting part-time while keeping their day job, and others jump in full-time right away. Having a clear plan for your income and expenses will help make the transition smoother.
Building your profile on LinkedIn, niche forums and social media can help you connect with potential clients. Some consultants start by freelancing on platforms like Upwork or Toptal, while others work with brokers or agencies to land their first contracts.
Think about how to make a website or a consulting portfolio to showcase your expertise, including samples or links to previous projects. You can use your consulting portfolio to highlight your past successful projects and your expertise in business strategy.
Making money as a consultant
A strong value proposition—what you offer and the results clients can expect—helps you stand apart. Assess your consulting skills and identify your niche. For example, Mango Marketing specializes in marketing consulting, which is a high-demand niche in the consulting world. Stay consistent by sharing insights, connecting with clients and refining your pitch.
To make money as a consultant, you need to understand how to start a business, from setting competitive rates to crafting strong proposals and managing contracts. Research industry benchmarks to price your services effectively—hourly, project-based or on retainer. Clear proposals and contracts protect your income, set expectations and build client trust, helping you secure repeat business and grow your earnings.
Revenue models for independent consultants
Hourly billing: Charge clients for the exact time spent on a project. It’s a simple approach but limits earning potential since income depends on hours worked. Great for short-term projects or when the scope is uncertain.
Project-based pricing: Set a fixed fee for a project no matter how long it takes. This gives clients cost clarity and lets you earn more by working efficiently. Perfect for clear deliverables and consultants who can estimate scope accurately.
Retainer agreements: Charge a recurring fee (monthly or quarterly) for ongoing services. Retainers provide steady income and long-term client relationships, making it easier to plan ahead. Ideal for advisory roles, strategic planning and ongoing support.
Value-based pricing: Price your work based on the results or value you deliver instead of hours. This approach lets you charge higher rates especially if your work drives revenue growth, cuts costs or improves operations.
Performance-based fees: Get paid based on specific results like increased sales, cost reductions or improved efficiency. This can be lucrative but comes with risks since external factors may affect outcomes.
Equity or revenue share: Instead of charging a fee, earn company equity or a share of future revenue. This can lead to big rewards in the long run but requires a solid understanding of the business and its risks.
Subscription models: Offer recurring access to consulting insights, templates or advisory services for a fee. This works well for niche expertise, memberships or ongoing strategy support without one-on-one work.
Group coaching or training: Host paid workshops, masterminds or coaching sessions for multiple clients. This is a scalable way to share your expertise while earning more from a single session.
Digital products and courses: Sell e-books, templates or online courses to create passive income. It’s a smart way to monetize your knowledge without direct client interaction though it takes upfront effort to create and market.
Licensing and white-labeling: Develop frameworks, software or methodologies and license them to other businesses. This lets you earn from your intellectual property without being involved in every project.
How to increase earnings as a consultant
Want to boost your consulting income? Start by targeting larger companies with bigger budgets. Sharpen your expertise to attract enterprise clients, network with decision-makers or partner as a subcontractor with established firms.
Upskilling can also help—specialized certifications or industry-recognized courses can make you stand out and justify higher rates. Sharing your expertise through articles, webinars or speaking events positions you as an expert and helps you charge premium fees.
Diversify your services. Switch to value-based pricing where clients pay for results, not hours. Add income streams like group coaching, courses or workshops. Referrals and testimonials can lead to better-paying gigs since warm leads often mean better opportunities. Lastly, strategic volunteering with nonprofits or startups can help you grow your network, break into new industries and land high-value clients.
Tips for making money as a consultant
Success as a consultant requires specific traits and skills. Expertise in your field, effective communication and adaptability to diverse client needs are crucial. Success also relies on good time management, self-discipline and the ability to build a strong professional network.
To promote your consulting career effectively, having consulting websites showcasing your past projects and expertise is necessary. Showcasing your work on a dedicated platform or via an online portfolio is crucial for attracting potential clients.
Specializing in a consulting niche can be a game-changer, allowing you to focus on a specific area of expertise while making money as a freelancer. This specialization establishes authority, increasing the chances of finding targeted projects and commanding higher rates. Identifying a niche aligned with market demand and your passions is key for success in the freelance consulting landscape.
Learn more: How to make a consulting website
How to make money as a consultant FAQ
Which type of consultants make the most money?
Top-earning consultants are often found in management, IT, finance and healthcare consulting. Specializing in strategy, digital transformation, cybersecurity or AI tends to lead to higher rates because of the impact their work delivers. Using value-based pricing, performance-based contracts or retainers can also help boost earnings compared to hourly billing.
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