Accounting ratios | 15+ Most widely used accounting ratios in 2021

Accounting

Want to learn about Accounting ratios? In this blog, we provide a cheat sheet of financial ratios and some basic accounting equations.

Accounting ratios

The accounting ratios are ratios that compare two or more financial data. The ratios are great tools to analyze the financial statements of companies. Various stakeholders in the business examine the ratios to understand the financial status of the company.

What are accounting ratios?

Accounting ratios or financial ratios are comparisons made between one set of figures with another set of figures. Analysts use the ratios to determine if the company can pay off its debt and find profitability. The ratio can predict if the company is likely to go bankrupt.

We can source the ratio from – balance sheet, income statement, and cash flow statement. Statements about the change in equity are a valuable source of data. There are different types of financial performance ratios are –

Liquidity Ratios
Assets Turnover Ratios
Financial Leverage Ratios
Profitability Ratios
Dividend Policy Ratios

Also read: The ultimate guide to Fund Accounting

Importance of accounting ratios

The financial statements are elaborate documents. Different items on the statement are interrelated. Accounting ratios are important because –

Accounting ratios help us to analyze and scrutinize past results. The ratios help to analyze the relationship with different items.
We can derive the ratios after analyzing and scrutinizing past results. Companies use the ratios to prepare budgets, estimates, formulating policies, and prepare an action plan.
Trend analysis helps us to take into account the time dimension while analyzing the account statement. We can determine if the company’s performance is improving and deteriorating over the years.
Ratio analysis helps to determine how efficiently the company runs and how it utilizes the company’s assets.
Compare the performance of two companies having similar products, or the performance of two departments in the same company.

Types of financial ratios

Accounting ratios help to measure the efficiency and profitability of an organization. The different types of financial ratios are-

Gross margin and operating margin – The income statement of the company contains information like company sales, expenses, and net income. Accountants get an idea about company earnings. Figures used to analyze company profitability are –

We can calculate gross profit or gross margin by dividing gross profit by sales. High gross profit indicates the company has a higher proportion of profits rather than expenses.

Operating profit or operating margin is a percentage of sales. It is the ratio of operating profit by sales.

Debt to Equity Ratio – The debt to equity ratio is an important measure in the balance sheet. We calculate the ratio by dividing debt by equity. The ratio shows how much business is leverage. It shows how much debt it is using to finance operations as opposed to company funds.

Quick Ratio – The quick ratio or acid-test ratio helps to or show a company’s short-term liquidity and measures if the company can measure if the company can meet its short-term obligations with its liquid assets.

Dividend Payout Ratio – provides data for ratios dealing with cash. For example dividend payout ratio is the percentage of net income paid to investors through dividends.

Also read: Accounting Calculator | 10 Best accounting calculators to choose from

Frequently used accounting ratios

Accounting formulas and bookkeeping processes are tedious,but gives a clear picture of the financial health of your company. The accounting ratios help you make important decisions. Here are some the most important financial ratios to analyze a company.

1. Profitability ratios

These ratios help accountants measure business earnings versus expenses.

Return on Assets indicates the profit made by the company compared to the assets.
Return on Equity shows profitability in the stakeholder’s investment.
Profit Margin shows the income that comes from sales.
Earnings Per Share indicates your profitability from outstanding shares.

Total assets formula – Assets are resources owned by the company for future economic benefits. Total assets formula = non-current + current assets.

Non-current assets are assets held for more than one financial year and are difficult to convert into cash or equivalent.

Current Assets are assets can be easily converted into cash and cash equivalent within one financial year. Ideally, total assets should equal the sum of shareholders equity and total liabilities combined.

2. Liquidity ratio formula

Liquidity ratios are financial metrics to determine a company’s ability to pay the current debt without raising more capital. Internal or external experts carry out the analysis. Here are the different liquidity ratios with the liquidity ratio formulas.

Current Ratio = Current assets/current liability
Quick Ratio = (Cash + marketable securities+ account receivable)/current liabilities
Days sale Outstanding = Average account receivables/Revenue per day

3. Equity ratio formula

The equity ratio or solvency ratio, measures the assets funded by the owner’s investment. It compares total equity in the company to total assets. A low equity ratio means the company acquires assets by taking debt which is risky. A high equity ratio indicates minimal debt. The equity ratio formula = Total Equity/Total Assets.

4. Accounts payable turnover ratio

The accounts payable turnover ratio is a short-term liquidity measure. We use it to quantify how fast a company pays its suppliers. The ratio measures how many times the company pays the payable amount during a specified period.

Account payable is short-term debt owed to suppliers and creditors.

Accounts payable turnover ratio =(BAP + EAP)/2TSP

where:AP = Accounts payable

TSP = Total supply purchases

BAP = Beginning accounts payable

EAP = Ending accounts payable

Also read: Basic Accounting terms that newbies must know

5. Average total assets formula

The average total assets is the average amount of assets recorded on a company’s balance sheet at the end of the year and the previous year. Accountants use it to compare the sales figure of the current year, to calculate the assets required to support the sales.

The average total assets formula = (Aggregate assets at end of current year + Aggregate assets at end of the preceding year)/ 2

Also read: How to set-up a Tax consultant business

6. Asset management ratios

Asset management ratios are also called turnover ratios or efficiency ratios. You use the ratios to analyze how effectively and efficiently small businesses manage their assets to produce sales. Here are the different assets management ratios.

Inventory Turnover Ratios are applicable if a business sells physical products. The Inventory turnover ratio = Net Sales/Inventory.
Day Sales Inventory will tell the management how many days does it take to sell inventory. The Day sale inventory = 365/Inventory Turnover.

7. Industry average ratios

You use industry average ratios to evaluate industry performance. We can calculate industry average ratios by comparing the financial statements of many firms. Analysts use industry average ratios for trend analysis and industry comparison.

8. Market value ratios

You can evaluate the current share prices of public-held company stock. The ratios help investors determine, if share prices are over-priced or under-priced. The market value ratios are

Book value per share
Dividend Yield
Earnings per share
Market Value per share
Price/earnings ratio

9. Working capital ratios formula

Working Capital ratios is also called current ratios or liquidity ratios. The ratios measures the company’s ability to pay off its current liabilities with current assets. The ratio shows the liquidity of the company. It is healthy if a company can pay off current liabilities with current assets (cash, cash equivalent, and marketable securities). The working capital ratios formula = current assets/current liabilities.

10. Cash coverage ratio formula

The cash coverage ratio is a liquidity ratio. It measures the company’s ability to pay off current liability with only cash and cash equivalent. Creditors examine the ratio to find out if the company maintains an adequate cash balance to pay off current debt. The cash coverage ratio formula = (cash + cash equivalent)/total current liabilities.

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11. Sales to assets ratio

We can calculate sales to assets ratio by dividing total sales by total assets. It can determine how many assets the company has relative to the revenue generated. Sales to assets ratio = total assets/sales revenue. You can determine if a company is using assets by studying the sales to assets ratio.

12. The ratio of liabilities to stockholders’ equity

You use the ratio of liabilities to stockholder’s equity to evaluate a company’s financial leverage. It is an important financial ratio. Accountants use the ratios to measure which company is funding itself through debts versus wholly funded groups. The ratio of liabilities to stock equity = Total liabilities/Total Shareholders Equity.

13. Leverage ratio examples

Leverage ratios are popular in accounting. The financial ratios help determine the ability of a company to meets its financial obligation. Common leverage ratios examples are –

Debt-equity ratio = total liabilities/total shareholders’ equity
Equity multiplier = total Assets/Total Equity
Degree of financial leverage = (SD+LD+SE)/(SD+LD) where, SD=short-term debt, LD=long-term debt, SE=shareholders’ equity
Consumer leverage ratio = Total household debts/Disposal personal income.

14. Average total assets formula

The average total assets is the average amount of assets recorded on a company’s balance sheet at the end of the year and the previous year. It is used to compare the sales figure of the current year, to calculate the assets required to support the sales.

The average total assets formula = (Aggregate assets at end of current year + Aggregate assets at end of the preceding year)/ 2

15. Asset management ratios

Asset management ratios or turnover ratios or efficiency help you analyze how effectively and efficiently small businesses manage their assets to produce sales. The different assets management ratios are-

Inventory Turnover Ratios are applicable if a business sells physical products. The Inventory turnover ratio = Net Sales/Inventory
Day Sales Inventory will tell the management how many days does it take to sell inventory. The Day sale inventory = 365/Inventory Turnover.

16. Industry average ratios

You use industry average ratios to evaluate industry performance. We can calculate industry average ratios after comparing the financial statements of hundreds of firms. Analysts use industry average ratios for trend analysis and industry comparison.

17. Market value ratios

You can evaluate the current share prices of public-held company stock. The ratios help potential and current investors determine if share prices are over-priced or under-priced. The market value ratios are –

Book value per share
Dividend Yield
Earnings per share
Market Value per share
Price/earnings ratio

18. Working capital ratios formula

Working Capital ratios or current ratios or liquidity ratios measures the company’s ability to pay off its current liabilities with current assets. The ratio shows the liquidity of the company. It is healthy when companies pay off current liabilities with current assets (cash, cash equivalent, and marketable securities). The working capital ratios formula = current assets/current liabilities.

19. Cash coverage ratio formula

The cash coverage ratio is a liquidity ratio measuring the company’s ability to pay off current liability with only cash and cash equivalent. Creditors examine the ratio to ascertain if the company maintains an adequate cash balance to pay off current debt. The cash coverage ratio formula = (cash + cash equivalent)/total current liabilities.

20. Sales to assets ratio

The sales to assets ratio is calculated by dividing total sales by total assets. The ratio helps to determine how many assets the company has relative to the revenue generated. Sales to assets ratio = total assets/sales revenue. You can determine if a company is using assets by studying the sales to assets ratio.

Also read: A guide to Remote accounting jobs

21. The ratio of liabilities to stockholders’ equity

You use the ratio of liabilities to stockholder’s equity for evaluating a company’s financial leverage. It is considered to be an important financial ratio and is used to measure which company is funding itself through debts versus wholly funded groups. The ratio of liabilities to stock equity = Total liabilities/Total Shareholders’ Equity.

22. Leverage ratio examples

Leverage ratios are widely used in accounting financial ratios that help determine the ability of a company to meets its financial obligation. Common leverage ratios examples are –

Debt-equity ratio = total liabilities/total shareholders’ equity
Equity multiplier = total Assets/Total Equity
Degree of financial leverage = (SD+LD+SE)/(SD+LD) Where: SD=short-term debt, LD=long-term debt, SE=shareholders’ equity
Consumer leverage ratio = Total household debts/Disposal personal income.

What are balance sheet ratios?

The most important financial ratio balance sheet ratio is –

The current ratio is the ratio of current assets to current liabilities. It indicates the company’s ability to pay off its short-term liabilities with current assets. It is an important measure of liquidity.
Debt to equity ratio or financial gearing is the ratio of total long-term debt to shareholder funds.
Return on Assets measures the efficiency with total assets of the company can generate profit.
The solvency ratio is the ratio of the sum of net income and depression to the total liabilities. We can use the ratio to determine if the company can pay off the long-term debt of the company.

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How to calculate average total assets?

Average total assets = Total assets (current year) + Total assets (previous year)/2.

We can calculate the average total assets as the sum of the total assets each month divided by twelve.

Average total assets = (Total assets at P1+Total assets at P2+…+Total assets at P12)/12

We use the formula when the management wants an in-depth analysis for more accurate results.

List of liquidity ratios

Basic liquidity ratios are financial ratios to find out a company’s ability to pay the short-term debt obligations. We use the ratio to determine if the current or liquid assets can pay off the current liabilities. The list of liquidity ratios is as follows

The current ratio is the ratio of current assets to the current liabilities.
The quick ratio is the ratio of the sum of cash, account receivables, and marketable securities to the current liabilities. Analysts consider the quick ratio to be a stricter check than the current ratio.
The cash ratio is the ratio of the sum of cash and market securities to the current liabilities. The cash ratio only considers a company’s most liquid assets.

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What are the most important financial ratios?

The most important financial ratios are:-

1. Quick ratio The quick ratio is one of the most important accounting ratios of a company. It is a good indicator of a company’s liquidity.

Quick ratio = (Current Assets – Inventory)/Current Liabilities

2. Debt to equity ratio helps to determine if a business can repay debt using equity as a metric.

Debt to equity ratio = Total liabilities/ Shareholder’s equity

3. The working capital ratio determines how well a company can pay its existing debt.

Working capital ratio = current assets/current liabilities

4. Price to earnings ratio measures how much investor would pay for dollars earned. You can learn if stock is overvalued or undervalued.

Price to earnings ratio = Share price/Earnings per share.

5. Profit margin shows analysts how effectively a company is managing its costs.

Profit margin = Profit/Revenue

What is ratios analysis?

Ratio analysis helps to gain insight into a company’s liquidity, operational efficiency, and profitability by analyzing the financial statements like balance sheet and income statement. There are different accounting ratios used for ratio analysis. We can group ratio analysis under the following categories as below.

Liquidity ratios measure the company’s ability to repay debt using current assets. If a company is unable to repay its debt it can convert its assets to cash and settle the pending debt.
Solvency ratios measure the company’s long-term financial feasibility. The ratios compare the company debt to its assets, equity, or yearly earnings.
Profitability ratios measure the ability to earn profit about its associated expenses.
Efficiency ratios measure how effectively a company is using its assets and liabilities to generate sales and earn profits.
Coverage ratios measure the ability to repay its debt `and other obligations.
Market prospect ratios help investors determine the return on investments.

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How to calculate profitability?

Profitability is a significant parameter to measure the financial performance of a company. It helps you to plan and check the profits earned. Use profitability to calculate your breakeven point. The profitability ratio formula will help you calculate profitability

1. Gross Profit Margin is the ratio of gross profit to sales. It measures if a business can recover the cost of production from its earnings.

Gross profit margin = Gross Profit/sales

Where, Gross Profit = Sales – Purchase – Direct Cost.

2. Net Profit Margin is the ratio of net profit to sales. The company earns net profit after reducing operational costs, depreciation, and dividend from gross profit.

Net profit margin = Revenue – Cost/Revenue.

3. Operating profit margin is the percentage of earnings to the sale before interest expenses and income taxes.

Operating Profit margin = Operating profit/sales

Where, Operating Profit = Sales – Expenses excluding interest and taxes.

Shubha Roy

Shubha writes blogs, articles, off-page content, Google reviews, marketing email, press release, website content based on the keywords. She has written articles on tourism, horoscopes, medical conditions and procedures, SEO and digital marketing, graphic design, and technical articles. Shubha is a skilled researcher and can write plagiarism free articles with a high Grammarly score.

Expanded accounting equation | Key principles and significance in real life

Accounting

In this post, we look at the answers to – What is the fundamental equation? How to expand an equation? And what are some expanded basic accounting example problems?

Expanded accounting equation

We derive the expanded accounting equation from the basic accounting equation. The equation provides more details about an owner’s equity. Accounting equations expanded are different for sole proprietorships and stock holder’s equity. The expanded accounting equation divides equity into four elements – owner’s capital, withdrawals, revenue, and expenses.

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Two accounting equation formula

Accounting is an essential part of the business. It involves tracking and recording financial transactions in the company. We use accounting formulas to describe the financial health of a company. We use them to produce financial statements like the balance sheet and profit and loss statement. The two accounting equations are:- the basic accounting equation and the expanded accounting equation.

1. Basic accounting equation

The basic accounting equation is also known as the balance sheet equation. The equation is the foundation of double-entry bookkeeping. The basic accounting equation is

Assets = Equity + Liability

Assets are company resources or things the company owns. These assets can be short-term or long-term.

Liabilities are assets owed to the creditors. Creditors are entities (vendors, government, bank, employees) that the company owes money to. We can subdivide liabilities into short-term liabilities and long-term liabilities.

Equity is the value of assets that belong to the owners. Equity is the amount left for the owner once assets and liabilities are paid. The owner’s equity increases, when the owner’s investments and revenue increase.

The owner’s equity decreases if there are cash withdrawals, business expenses, or losses.

2. Expanded accounting equation

The expanded account equation uses the basic accounting equation and adds equity items to show how it affects the company. We split the equity account into four or five categories. This split depends on the ownership patterns. The expanded accounting equation is

Assets=Liabilities+CC+BRE+R−E−D

where:

Liabilities are all current and long-term debts and obligations
CC – contributed capital (paid-in-capital) or the capital provided by the original stockholders
BRE or Beginning retained earnings are earnings that are not distributed from the previous period.
R or revenue is the income generated by the company from the ongoing operations.
E or expenses are the costs incurred for business operations.
D or dividends are earnings distributed to the stockholders.

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Difference between basic and expand equation

The expanded equation is the expanded form of the basic equation. We subdivide the equity components into four elements. The four elements are the owner’s capital, owner’s withdrawals, revenues, and expenses. The section in the basic equation dealing with assets and liabilities remains unchanged. The two equations are as follows:-

Basic equation

Assets = Equity + Liability.

Accounting equation formula

Assets=Liabilities+ Contributed Capital +Beginning retained earning +Revenue –Expenses −Dividend

The expand equation shows the various units of stockholder equity in greater detail. We change the terminology depending on the type of company. We use the term member’s capital in partnerships and owner’s capital to describe sole proprietorships. We substitute dividends by distribution and withdrawals.

The expanded equation gives analysts more information about the health of the company. The expanded accounting equation allows the analyst to scrutinize –

The effect of net income (due to increase in revenue and decreased expenses) has on equity.
The effect of transitions with owners (draws, dividends, sale, or purchase of ownership interest).

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Importance of expanded accounting equation

The expanded accounting equation considers the different components of equity. Equity is important because it represents the amount of the investor’s stake in the company and represents the proportion of their shares in the company. The expanded account equation shows the debit and credit entries in the double-entry form.

The equation helps businesses to calculate the assets, liability, and owner’s equity in a period. The investor can track the profitability and finances of the company.

Analysts use the equation to understand the breakdown of equity. The revenue and expenses show the change in net income over the period. They can understand stockholder transactions through contributed capital and dividend.

The equations help determine the effect of change on owners. It helps to save time.

We can rearrange the expanded accounting equation for different purposes

Assets – Liabilities = Shareholder’s Equity
Assets – Liabilities = Share Capital + Retained Earnings
Assets – Liabilities = CC + BRE + R + E + D

These rearrangements are useful when companies are studying bankruptcy. Stockholders can use the equation to understand their compensation. Owners need to pay the liability made up of short-term and long-term debt needs. They can use the remaining liquidated assets to pay off parts of shareholder’s equity.

It is important to remember to balance the equations.

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How does the full accounting equation work?

Analysts want to understand the breakup of the company’s shareholder’s equity. The general accounting equation contains assets and liabilities. We can expand shareholder’s equity into:-

Contributed capital is the capital provided by the original stockholder.
Beginning retained earnings or BRE is the carryover retained earnings that were not distributed to stockholders before.
Revenue comes from the sales and operations of the business.
Expenses are the costs associated with running the operation.
Dividends are the earnings distributed between the stockholders of the company.

Analysts examine contributed capital and dividends to understand stockholder’s transactions. The net income earned by the company is the difference between revenue and profit generated and expenses and loss incurred.

The net income earned by the company influences the equity.

The analyst uses the full accounting equation to understand the breakdown of shareholder equity. They can analyze how the equity changes over a period.

The terminology used in expanded accounting equations varies depending on the ownership patterns of the company.

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Real-life examples of the extended accounting equation

The extended accounting equation and used in the balance sheet. We call the extended equation the balance sheet equation. Any changes to the equation will result in the same changes with the balance sheet. Some real-life examples will help understand the accounting equation.

Sole Proprietary expanded basic accounting equation

Here are expanded basic accounting example problems for a sole proprietorship. Alicia Jones runs a wholesale clothing shop Adorables. During the fortnight of operations, she engages in the following transactions:

Mar. 01: Alicia invests $60,000 in the business.
Mar. 05: She purchases clothing items costing $20,000.
Mar. 12: She sells clothing items to a retailer for $8,000 cash, the cost of goods sold is $5,000.
Mar. 14: Alicia takes $200 cash for her personal use.


	Assets	Liabilities	+Owners Capital	+Revenue	-Expenses	-Drawing
March 01	+60,000		60,000
March 05	-20,000 +20,000
March 12	+60,000 +8,000 -5,000		60,000	8,000	5,000
March 14	+63,000 -200		60,000	8,000	5,000	200
	62,800		60,000	+8,000	-5000	-200

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Journal entry for expanded accounting equation examples

Mr. Alex invested $20,000 to start a printing business
The company obtained a loan from a bank, $30,000
The company purchased printers and paid a total of $1,000
Rendered services and received cash, $500
Rendered services on account, $750
Purchased office supplies on account, $200
Had its equipment repaired for $400, to be paid after 15 days
Mr. Alex, the owner, withdrew $5,000 cash for personal use
Paid one-third of the loan obtained in transaction #2
Received customer payment from services in transaction #5.

Assets = Liabilities + (Capital at beginning + Additional Contributions – Withdrawals + Income – Expenses)

	A	L	Con	With	Inc	Exp
1	20,000		+20,000
2	30,000	30,000
3	1,000 (1,000)
4	500				+500
5	750				+750
6	200	200
7		400
8	(5000)			5000
9	(10,000)	(10,000)
10	750 (750)
Balance	36,450	20,600	+20,000	-5000	+1250	-400

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Corporation expanded accounting equation example

Foods & Drugs Inc. The Company was incorporated on 1 June 2019 with a paid-up capital consisting of 1000 shares having a value of $50. During the first month of its operations, the company has entered into the following transactions:

1-Jun Capital introduced – $ 50,000
6-Jun Paid $10,000 for purchase of furniture and computers.
15-Jun Paid $ 5,000 towards purchase of machinery and equipment.
Paid $ 1,000 towards purchase of raw materials
22-Jun Incurred expenditure towards advertising and marketing amounting to $200
25 June Earned revenue of +10,000
26 June Earned revenue of +15,000
30-Jun Paid salaries to its employees – $13,000
30-Jun Paid Rent and telephone bills – $15,000
30-June Paid dividend of -500

Date	Nature	Asset	Paid up Capital	Liabilities	Income	Expenses	Dividend
June 1	Capital and Assets	50000	50000
6 June	Expenses and Assets (Fixed Assets)	-10,000				10,000
15 June	Expenses and Assets (Fixed Assets)	-5000				5000
15 June	Expenses and Assets (Inventory)					1000
22 June	Expenses and Assets (cash)					200
25-June	Revenue and Assets (cash)				10,000
26-June	Revenue and Assets (cash)				15,000
30 June	Expenses and Assets (cash)					13000
30 June	Expenses and Assets (cash)					15000
30 June	Dividend						50

Assets = Paid-up Capital – Treasury Stock (if any) + Liabilities + Income – Expenses – Dividends

Assets = 50000 – 0 + 0 + 25000 – (-44200) – (-50) = 30,750

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What is the expanded accounting equation for a sole proprietorship?

The expanded accounting equation for sole proprietorship shows accounts for the components that make up the owner’s equity. These components are –

Owner’s Capital
Revenues
Expenses
Withdraws

The elements of the accounting equation are represented by

Assets =Liabilities + owner’s capitals+ Revenues – Expenses – owners draw

Where,

The owner’s capital or owner’s equity is the equity account that shows the owner’s stake in the business.

The owner draws is the amount of the money taken from the sole proprietorship, partnership, or LLC or corporation by the owner for their personal use. It is a way owner pays themselves instead of a salary.

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What is the expanded accounting equation for corporations?

The expanded accounting equation gives us a break-up of the shareholder’s equity amount.

The expanded accounting equation for corporations is as follows –

Assets = Liabilities + Paid-in Capital + Revenues – Expenses – Dividends –

Treasury Stock.

Where,

Liabilities are obligations made by the corporation. These may be financial, account-related, or legal. Accounting liabilities appear on the balance sheet.

Paid-in capital is cash or asset that a shareholder gives to the company in exchange for stock.

Revenue is the value earned from the sale of goods and services.

Treasure Stock or reacquired stock is the stock.

The dividend is the distribution of profit to shareholders.

Expenses are the cost incurred running the company.

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What is the expanded accounting equation for corporations?

The expanded accounting equation for corporations

What is the meaning of an l/c r e and d in an expanded accounting equation?

The expanded accounting equation is

Assets = Liabilities + CC+ BRE+R-E-D

Where,

CC – Contributed Capital i.e. capital provided by the original stockholder (paid-in capital)

BRE – Beginning retained earning. The BRE is earnings that have not been distributed to the stockholder previously.

R = Revenue is the amount a company receives in exchange for its good and services or conversely. It is the income generated from the ongoing operations of the company.

E = Expenses are the cost incurred to run operations of the business

D = Dividends, earnings distributed to the stockholders of the company. Dividends can be in the form of cash payment, stock, or other forms. Dividends are a part of the profit that a company shares with its stockholder.

Shubha Roy

Educational Consultant | How to set up an awe-inspiring educational consulting business in 5 steps?

Businesses

Aspiring to be an educational consultant? Here is a quick guide of 5 steps to set up an educational consulting business. Read on!

Educational Consultant

Technology is rapidly evolving, and it is changing the way we learn. An education consultant helps prepares students for challenges. They advise various stakeholders on the latest education innovation and technologies available. In this blog, we attempt to answer some of the common questions. What is an education consultant? What does an educational consultant do? How much does an educational consultant make?

What is education consulting?

Education consulting is a service provided to parents or students or educational institutions. They can be advisors, counselors, admission consultants, vocational trainers. They may have a background in teaching or school administration. There are two professional organizations for education consulting,

The Higher Education Consultants Association (HECA)
Independent Educational Consultants Association

Educational consultant job description

The role of an education consultant can vary. It may include analyzing and improving existing curricula, admin processes, teaching methods. Education consultant job description is as follows,

Analyze education standards, classroom policies, and grades, and test scores.
Help put in place changes in the curriculum.
Take feedback from students about curriculum changes.
Give feedback on the effectiveness of the current education system.
Recommend different educational material.
Analyze and suggest ways to reduce student drop–out rates.
Supervise online education.
Visit classrooms to observe lessons and provide feedback.
Help educators handle talented students and those who need extra attention.
Guide college selection and application
Meet administrators, school boards, and teachers to discuss budgets and programs.

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Top 15 education consultancy services suited for you

There are many types of education consultancy services you can provide. Several education consultants operate as freelancers. Before you start your consultancy, you need clear short and long-term goals. You need to multi-task and network. You should stay up-to-date about the latest practices.

1. Education consultant jobs

Education consultant jobs are about creating a positive learning environment for students. They plan educational programs and products at school to ensure a positive outcome. They work to improve the learning environment in the school. Education consultants observe and evaluate the emotional, behavioral, and learning aspects of students while designing educational programs. They provide support to teachers.

2. Gifted teaching consultant jobs

Gifted teaching consultant jobs identify gifted students. The consultant ensures the student gets work geared towards their strength. The student gets to work with their intellectual peers. They provide guidance and information about opportunities beyond school hours. Prepare, develop and submit statutory records and data.

3. Online training work from home education consultant jobs

Work from home education consultant jobs can be online training courses. They help recruit prospective students to enroll in the program. The firm expects the consultant to meet recruitment goals. They help current and potential students. They have a thorough knowledge of course content.

4. Teaching consultant

A teaching consultant trains and advises teachers and faculty, on the latest technologies and classroom policies. They recommend different educational material. The teaching consultant helps to put in place curriculum changes. They supervise online education. They meet teachers and administrators to discuss programs and budgets.

5. Higher education consulting jobs

Higher education consulting jobs involve working with high school student and their families. They help them transition from high school to universities, colleges, or vocational school. They give inputs matching students to the best opportunities to meet their needs. They help students and their families with the college admission and application process.

6. Special educational consultant jobs

Special educational consultant jobs impact the equality and discipline of students with disabilities. The educational consultant oversees and evaluates programs for students with disabilities. They give their inputs to the school district and department about special education services and programs required. They identify trends and provide active support.

7. Schools consultants

Schools hire school consultants to address a specific problem. They help schools overhaul programs and policies. Their initiatives can help turnaround school performance and assist in managing school charters. School consultants can provide solutions to address problems like school drop-out rates. They can help develop school curriculum including developing special-ed programs.

8. Teacher consultant

A teacher consultant works with teachers from pre-school through high school to develop new learning methods for students. They help in daily activities and work with teachers, students, and parents. They need prior teaching experience to work efficiently. They try to build a positive relationship with parents to learn more about each child. They may provide support to the school district.

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9. Higher Ed consulting jobs

Higher Ed consulting jobs help bring the focus back on the schools’ core mission. They examine school operations and organizations to determine redundancies that are diverting resources. They help to rationalize the school’s organizational structure. They help increase faculty diversity and student graduation rates. Higher Ed consultants work to engage faculty in online learning.

10. Education consultant

Education consultants help develop, coordinate, and implement the curriculum. They advise schools on how to improve graduation rates. They help improve the school’s performance. The study plans and curriculum and make plans to improve them. They ensure the curriculum meets state and federal standards. They ensure standardization across classrooms.

11. Curriculum consultants

Curriculum consultants are responsible for revising and developing curriculum guidelines. They interpret the present curriculum and help schools frame programs to meet requirements. They develop a professional leadership program for teachers. Curriculum consultants design surveys to gauge the effectiveness of the program. They prepare curriculum guidelines and program material. They address concerns about the curriculum.

12. University consultant

A university consultant help students get accepted into universities of their choice. They work with students to set goals. They help students set realistic goals. They advise students on academic and extracurricular choices. University consultants are well versed in schools, programs, and admission procedures. Parents hire them to improve the chances of enrolling their child into their preferred university.

13. Educational consultant jobs

The job description of an education consultant can vary depending on the profile. They help students and parents select the best school for their needs. Guide international students. They work with teachers and school administrators to improve. They develop better teaching and learning material. They plan and organize teacher training programs.

14. Overseas student consultant

Overseas student consultant helps students interested in going overseas for higher education. They guide students about universities and courses. Overseas student consultants study student profiles. They provide them with the best program possible. They assist students in the application process and the paperwork involved. They assist students with educational loans and VISA processing.

15. Teacher consulting job

Teacher consulting job profile is helping teachers improve. They observe teachers while they are teaching. They provide inputs to improve teaching methods and increase student interaction. They work with teachers to improve the present curriculum. They teach the latest instructional techniques. Teacher consultants provide training for school staff.

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How to become an independent educational consultant?

Educational consulting jobs are meaningful, especially if you are passionate about improving education. You need strong communication and interpersonal skills to become a successful educational consultant. You will need to develop analytical and diagnostic skills. In this section, we delve into how to become an independent educational consultant.

1. Qualification required for becoming an educational consultant

You need to complete your graduation to become an education consultant. It is helpful if your degree is in a relevant field like education or cognitive science. You need to complete a student-teaching semester as part of your education requirements. Some learning consultant job descriptions, specify candidates with masters or Ph.D. degrees in education.

2. Get licensed to offer educational consulting services

Before you offer educational consulting services, you need a license. The requirements for certification can defer depending on the school offering the certification. You will need to get a teaching license. Teaching license requirements vary by state. After some experience, you can opt for certification from professional organizations. Read the eligibility criteria to make sure you qualify.

3. Choose specialization in educational consulting

There are different specializations you can consider. You can help high school students transition into college, or help them during the college selection and admission process, or get financial aid. Some educational consultants are working for school districts or colleges. You need to be up to date with the latest educational tools.

4. Educational consultants need experience working in an education setting

Successful educational consultants have experience in an educational setting. You need at least three years of teaching experience. This can be private or public school, or with special-Ed students. You can teach at a college or university. Being an ESL instructor, lecturer, or pre-school teacher will also be useful.

5. Look for education consulting jobs

Start looking for education consulting jobs posting online. There are several job postings for education consultants like jobs in school districts, teacher-consultant jobs, work home education consultant jobs or online education consultant jobs. Read the job requirements before applying. Customize your resume and cover letter to highlight your skill. During your interview show, you have relevant job and educational experience.

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Educational consultant certification

Educational consultant certification is vital to prove your skill and competence. Some certification programs are extension departments of a 4-year university program. Programs offered by some universities are,

UCLA Extension educational consultant certification.
UC Irvine Division of Continuing Education (DCE) offers Independent Educational Certification programs.
Berkeley Extension Certificate Program in College Admissions and Career Planning

Certifications offered by education consultant associations like,

American Institute for Certified Educational Planners
Higher Education Consultant Association
Independent Educational Consultant Association
Uniagents Education Consultant Certification

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Educational consultant salary in the US

The average education consultant salary in the US is $61,592 per year. It can start at $41,000 and go up to $90,000.

Government education consultant’s salary is $76,970/year.
Higher education consultant salary (local, state, and private) is $69,990/year.
Post-secondary schools education consultant salary is $58,420/year.
Education support and private organization $62,530/year.

The salary of an education consultant depends on the job profile, experience, and location.

Salary of education consultants Chicago $78,611/year
Salary for education consulting jobs NYC $61,353/year
Salary for education consultant jobs NJ $113,901/year
Salary for education consulting firms DC $79616/year

Shubha Roy

Image Consultant | How to become a successful image consultant | Top 15 trending career paths

Businesses

Being an image consultant is a trending career now. Are you inspired to become one? Here is a 5 step guide and top 15 career choices for you. Read on!

Image Consultant

The image consultant profession started in the early 1980s. The profession has expanded far beyond fashion. Today it includes communication, interview skills, personal branding, body language, and presentation. In this blog, we attempt to answer your questions about what does an image consultant do? How do you become an image consultant? The image consultant’s courses and consulting certification are available.

What is image consulting?

What is an image consultant? An image consultant definition is a person who focuses on the impact made by their clients in their personal and professional sphere. Image consulting is a mix of psychology, fashion, and marketing. They aim to improve their client’s appearance, behavior, digital footprint, and communication.

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Image consultant job description

Image consultant careers are exciting and fulfilling. You help to improve your client’s personal and professional image. People or firms hire them to improve their public relations strategy. The job description is as follows,

Schedule extensive meetings with clients to understand their personal and professional goals.
Analyze, refine, and alter client’s image, behavior, and communication skills.
Work with corporate clients through professional brand, coaching, and projects.
Organize and conduct seminars and workshops, for corporate to meet their professional goals.
Promote your client through articles in social and print media and other forums.
Help create an authentic, suitable, and sustainable image.

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Top 15 image consultant businesses one can start

Starting your image consultant business is daunting. You need to have a background in fashion or a related field. It is important to have contacts with people in the retail side of the business. To start any business you need to identify your market. Your clients can be corporations or individuals. Here are some businesses you can start.

1. Personal image consulting

Personal image consulting services, help individuals create a positive first impression. The consultant checks their client’s lifestyles, roles, and goals before suggesting changes. They choose to dress according to body type while incorporating the personal style of their clients. They help improve their client’s body language and etiquette.

2. Image consulting job

Image consulting jobs encompass three components visual, behavioral, and communication. Visual components consist of clothing, grooming, body language, and other physical components. Behavioral components are listening, public speaking, etiquette, and language. Communication components include improving paralinguistic, writing, and presentation skills. They work on the three components to help clients achieve their potential.

3. Image specialist

Image specialists help transform lives. They help bring out the best qualities of their clients and become more successful. They improve their client’s behavior, appearance, and communication skills. An image specialist interacts with their clients to understand their goals, job profile, and pain points. They use psychometric tests for better understanding. They use the results to map out a sustainable transformation.

4. Image consultant jobs

Image consultant jobs need candidates to have a flair for style and design. They work with their clients to develop a unique image to meet their personal and professional goals. They work with clients to develop style, behavior and enhance their communication skills. They help promote their client on print and digital platforms.

5. Online image consultant

Online image consultant advises companies and individuals on how to manage their digital media. It is important to have a consistent image online and offline. They streamline their client’s online presence across various social media platforms and websites. They work with their clients to ensure quality and uniform content on their websites, blogs, and social media pages.

6. Personal style consulting

Personal style consulting is the art of image and appearance building. They choose clothing and accessories based on the client’s body type and needs. Personal style consultant helps their clients with make-up, hair, and home décor. They need to be mindful of their client’s styling preference when suggesting outfits. They should have an understanding of the latest fashion trends.

7. Professional image consultant

Companies today realize the importance of brand image. They realize their employee’s image is part of their corporate brand. Professional images consultants improve the appearance, behavior, customer interaction, and communication of front-end employees. They help the employees become successful brand ambassadors of the company. Firms hire them for etiquette, professional conduct, presentation, and communication skills training.

8. Image consulting business

Image consulting business professionals train executives to dress for success. They may have to work with other professionals for the consult. They collaborate with hairstylists, makeup executives, dieticians, personal trainers, and media professionals. They now conduct training online for their clients. The consultants train business professionals for social and business events, speeches, and presentations.

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9. Executive image consultants

Executive image consultants help entrepreneurs, high-level and mid-level executives create an image with executive style. Executive image consulting involves learning their client’s unique character traits and what they want to convey through their appearance. They identify the gaps in their client’s wardrobe. They proceed to fill the gaps based on their client’s lifestyle and body type.

10. Image coach

Image coach works on the way the client is perceived. A person’s image has several elements like – self-esteem, dress sense, and communication skill. Image coach works with their client’s to bring out the best in their clients. The consultant will help develop a unique authentic style to get a favorable response.

11. Personal consultant

A personal consultant works to improve their client’s total appearance. Consultants first study their clients before suggesting improvements to their appearance. A consultancy aims to help its clients meet personal and professional goals. During the evaluation process, they learn more about the client. The consultant works w to bring about visible and meaningful changes in appearance, skill, and behavior.

12. FIT image consulting

FIT is a renowned college for fashion, design, art, communication, and business. Fit image consulting course is well respected. The extensive course content for image consulting covers topics like fashion, wardrobe planning, event planning, and publicity.

13. Makeover consultants

Makeover consultants are not limited to changing someone’s wardrobe choices. They help individuals find their style quotient and help them find clothes suitable for body shape. Makeover consultant performs color analysis to find a suitable color. They give grooming, makeup tips. They help clients project the image they want. They work on their client’s body language.

14. Image consulting services

Individuals and organizations can opt for image consulting services. You have a specialized image consultant for men or women. They offer services like communication assessment, appearance management, styling, grooming, personal shopping, or wardrobe consultancy. It can include professional and personal development training and coaching programs.

15. Corporate image consultant

Corporate image consultants help working professionals to create a great first impression. They equip their clients with tools to project their best selves. They mold the dressing and image of staff as they progress. They teach their clients to dress for each occasion. They ensure corporate leader’s image is consistent with their brand image.

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How to become an image consultant?

A personal image consultant must be a great communicator. They teach their client’s react in specific situations. You need to establish an interpersonal relationship with your clients. You need to correct your client. You need strong organizational skills with the ability to multi-task. In this section, we elaborate on how to become an image consultant.

1. Personal image consultants training

There is no formal course for personal image consultants. Most consultants have completed their bachelor’s degree in related fields like communication, marketing, psychology, beauty, fashion, or public relations. Though formal training is not compulsory it is beneficial. Several institutes like London Image Institute provide training. There are courses for image consultants online or community colleges.

2. Consultant certification

Consultant certification will help you get recognition for your abilities and skillsets. The Association of Image Consultants International AICI offers three certifications,

Certified image consultant (CIC)
Certified image professional (CIP)
Certified image masters (CIM)

The AICI offers fashion stylist certifications in two levels First Level Certification (FLC) and Certified Image Professional (CIP). There are personal and styling courses that offer image consulting certification online.

3. Job experience as image consultants

You need the experience to become one. They can develop their skills working in other jobs. Opt for jobs like a sales associate at a clothing store, a personal shopper or stylist, or a beauty consultant at a makeup counter. These jobs will give you firsthand experience working and advising clients.

4. Choose your specialization as an image consultant

You can choose a specialization that focuses on your strengths and skills. You can choose communications or style, beauty, etiquette style. This will help define your career path and improve your skills. You will be able to target your audience better. You need to stay updated about the latest trends in the industry.

5. Become an image consultant by networking

Networking is important to become an image specialist. You may need to develop a relationship with other professionals. You may need a consult with related industries like event management, photography, and media. You need to build a portfolio to attract new clients. You can offer a free image consultant service to friends or family to build your portfolio. If you are starting a business you need to build an online presence.

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Payscale of image consulting professionals

Person image consulting professionals earn an average annual income of $67,374/- or $32 per hour. The salary of an image consultant near you can start at $48,527 and senior image consultants 83,000. Their average annual bonus is $1691. The salary depends on their experience and location.

1. Image consultant NYC

The average gross salary of an image consultant NYC is $35,976 or 17.30/hour. The average bonus in the city is $3,770. Entry-level image consultants or with one to three years of experience earn approximately $29,190. Senior image consultants with 8+ years of experience earn an annual salary of $42,529.

2. Image consultant Dallas

The average salary of image consultant Dallas is $42975 or works out to $20.66/hour. The salary of an entry-level image consulting Dallas professional can start at $33,000 per hour. Senior image consultants earn $104,500 annually. 75% of them in Dallas earn $52,000 annually.

3. Image consulting DC

Image consulting DC professionals can get an average annual salary of $448404 or $21.54/hour. Salaries of image specialists in DC start at $33,170 and can go up to $125,270.

4. Image consulting San Francisco

The average annual salary for image consulting San Francisco is $38,284 or $18.41/hour. The average bonus in San Francisco is $4.012. The salary of entry-level consultants in San Francisco is $33,903. Candidates with 8+ years of experience earn approximately $45,257. The average salary of consultants in Miami is $31,414.

5. Image consulting Boston

Image consulting Boston professionals can get an average annual salary of $90,000. The salary range of consultants in Boston can start at $41,000 and can go up to $200,000. A consultant with a bachelor’s degree earns an average of $87,000. Those who have completed their masters can earn an average of $96,500.

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Image consultant courses

The training is like public relations specialists. There are no bachelor’s degrees in image consultancy, there are image consultant training courses you can attend. Several consultants study public relations or communication. Some consultants study fashion. Best universities for Bachelors in Communication,

University of Pennsylvania
University of Southern California
Cornel University
Boston University
DePauw University

Best Universities for Bachelors in Fashion,

Fashion Institute of Technology, New York.
Parsons: Fashion, Art and Design School, New York.
Westphal College of Media Arts & Design, Philadelphia.
Stephens College, Columbia.
Kent State University, Ohio.

Some institutes which have courses are,

London image institute
Pearla Academy
Fashion stylist institute
MESA Community College
International Career Institute (ICI)

Shubha Roy

Leasing Consultant | How to become a leasing consultant and 7 best career paths to pursue

Businesses

Passionate in real estate and keen to become a leasing consultant? Here is a guide for you to get starting. Read on!

Leasing Consultant

43 million households in America live in rented properties. Some prefer renting a home before buying it and some prefer to rent. A leasing consultant helps people find a place to rent. In this blog, we explain what does a leasing consultant do? i.e. lease manager job description. You will also learn about the top career paths and how to become a leasing expert and some resume samples

Leasing consultant job description

The leasing consultant description is assisting prospective tenants during the leasing of property. A rental consultant is a rental property specialist.

Manage the leased property of existing and potential clients.
Organize property viewing, follow-ups and update the contact management database.
Market the property through an open house and individual viewing.
Negotiate lease terms with landlords and property management companies.
Schedule lease applications and ensure statutory compliance.
Execute lease agreements and assist with move-in processes.
Prepare required paperwork for the lease.
Plan and put in place a marketing strategy for leased property.
Respond to inquiries or leads and inspect the property.
Provide required help to clients with large real estate portfolios.

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Top 10 leasing agents duties

Leasing consultant job duties include helping their client buy, sell or rent properties. Brokers and leasing agent work are similar. Leasing agents are,

Find potential clients to buy, sell or rent properties.
Offer advice on prices, mortgage, market information, etc.
Study property prices to determine competitive market prices.
List out properties for rent with relevant information like price, location, and amenities offered.
Generate interest for the property through advertisements, open houses, and listing.
Show the property to buyers and renters.
Offer the seller with sale offer for consideration.
Mediate during negotiations between buyer and seller.
Ensure both parties fulfill the terms and conditions of sale.
Prepare documents for sale.

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Top 7 profiles within leasing consultant jobs

Leasing consultant jobs are exciting. You will have a good deal of autonomy. You interact with a potential renter, as you show them different apartment options. After a few years of experience, you can operate on your own. You play the role of a tour guide as you highlight amenities in your area and the property.

1. Apartment leasing consultant job

The apartment leasing consultant job market is worth over$173 billion in the US. The apartment leasing consultant job description is extensive. It entails finding new residents for apartments and giving the prospective residents tour of the apartments. They handle the paperwork involved in leasing out the apartment. The job involves marketing for renting apartments. They help the property manager maintain the property.

2. Commercial lease consultants

Commercial lease consultants met potential renters. and show them available commercial properties. They generate leads by advertising available properties and spreading the word. They conduct rental analysis. They execute required legal documents and checks. They create marketing strategies to improve leasing prospects. Negotiate lease agreements to please both parties.

3. Sales and leasing consultant

Sale and leasing consultant helps clients research the property market. Sales and leasing consultant responsibilities are vast. They post property advertisements. They manage rental applications and maintain accurate sales records. They negotiate terms of lease and sale closure. Sale and leasing consultant trains new staff members. They need to remain updated about the real estate market.

4. Apartment consultant

Apartment consultant meets residents, prospective tenants, and property managers. Apartment leasing professional job description includes visiting and inspecting apartments and community grounds. Prepare lease documents and other related paperwork. They assist tenants while moving in and moving out. Perform required bookkeeping and record keeping. Apartment consultants do the required on-site marketing and advertising.

5. Residential lease consultant

A residential lease consultant help in finding new residents through outreach, cold calls, and marketing. They contact organizations in the community and network with local businesses. They show the property to likely clients and follow up on potential leads. They fulfill all statutory requirements while drawing up lease contracts. Residential leasing consultant job description resume should include working with property managers to meet the target.

6. Rental consultants

A rental consultant manages rental properties and helps to find tenants for vacant apartments. They help with rent renewal. They may specialize in residential houses, apartments, or renting commercial properties like office buildings or retail centers. They pre-qualify clients to rent a home once the renter expresses interest. This includes background and credit investigation.

7. Leasing specialist jobs

A major part of the leasing specialist job description is advertising available rental properties along with information like date availability, rental prices, and location. Leasing specialist jobs include performing background and credit checks on the prospective renter. They handle the paperwork requirements. They handle the collection of rent, security deposits, and application fees. They specialize in giving customized services to tenants.

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How to become a leasing consultant?

Leasing consultants or leasing agents work on behalf of property management companies or landlords to collect rent. They show properties to prospective clients and help in rentals. To become a leasing consultant you need to learn about the real estate market in your area and marketing. You need to try developing a relationship with the companies owning the properties.

1. Training and education for becoming a leasing agent

Those interested in becoming a leasing agent need to complete their high school diploma. As the leasing jobs near me are getting more competitive and complex, some employees prefer candidates with college degrees. A bachelor’s degree in business and real estate courses will give you an advantage in the job market.

2. Attend leasing consultant classes

Many properties management companies specify qualifications in the leasing agent job description. You can attend relevant courses in real estate, sales, real estate market analysis, residential report writing, fair housing regulations, contracts, and principles of real estate management. You need to get a license to practice. Some real estate associations offer training. You need to renew the certification needs every 2 to 4 years.

3. Leasing consultant training

Leasing agent job duties use skills that improve through practice and training. The work environment is complex and you learn on the job. Leasing consultant training involves working with an experienced consultant. Larger firms may have a structured classroom training format. Some firms provide training for the exams. Real estate associations offer training programs for entry-level and experienced leasing consultants.

4. Leasing consultants study the real estate market

To become an effective leasing consultant, you need to have a sense of the property in the area you operate and the kinds of tenants that live there. You need to decide your specialization – commercial or residential properties. You should be able to answer asked questions by tenants. What is the average age group and family size in the area? Are short-term or long-term leases more popular?

5. How to become a leasing agent for apartments?

You may be interested in knowing, how to become a leasing agent for apartments? You will need to become a certified apartment leasing agent. This will help to expand your property management portfolio. You will have to complete a short course before you meet the certification requirements. Be prepared to drive a lot while showing renters available apartments.

Also Read: How to start business with no money | A complete guide

Leasing agent qualifications

Leasing agents do not require a formal degree. They must have completed their high school diploma. The leasing agent description requires you to be licensed. As the real estate market becomes more competitive and complicated, employees are specifying leasing positions with a college degree. Some community colleges and universities are offering courses in real estate.

You can opt for an associate or bachelor’s degree in real estate. If you want leasing consultant jobs near me, consider courses in business, finance, economics, and law. For those interested in starting your firm, courses in marketing and accounting help. Many real estate associations offer pre-licensing courses and professional development courses.

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Leasing consultant skills

A leasing consultant’s job is to find appropriate tenants for the property. They help tenants find the best property in the market. Leading consultant skills that will help you excel are,

Time management – Apt leasing consultant schedule appointments, conduct tours and close on lease. Time management skills help to ensure you use your time well and complete your appointments as scheduled.
Sales Oriented – You use your sales skills to close the deal on a lease.
Customer service – You need to use your customer service skills to resolve any issues. You need to go the extra mile to help and advise your customer
Listening – You need to hear and understand what amenities your customer is looking for in a leased property. This will help you show narrow what you will show.
Communication – Strong communication skills are vital to progress in leasing consultant jobs.

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Sample leasing consultant resume

While writing a leasing consultant resume you need to show you are the best candidate for the job. Your resume should mention the leasing consultant job description for resume. Use the apartment leasing agent job description to draft your resume.

Richard Clinton

(123) 456-78910

Richard.clinton@abc.com

Experience

LUXURY APARTMENT LEASING CONSULTANT, Boston MA

2016–present

Showed and leased apartments to prospective residents and answered all questions.
Maintain proper records using proprietary software.
Verify and follow-up applications including resident screening.
Prepare leasing agreement
Follow-up on prospects and leads
Maintain and follow-up with resident receivable and delinquencies.

Key achievement

Exceeded the monthly lease quotas by 20%.
Awarded Best Leasing Consultant in 2018.

Education

Bachelor in Business from University of Boston

Skills

Excellent communication skills and active listening skills.
Ability to maintain interpersonal relationships.
Detail-oriented
Community policies
MS Office
Customer Service
Bi-lingual in English and Spanish

Certifications

National Apartment Leasing Professional (NALP)

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Sample leasing consultant cover letter

You need to customize every cover letter for a leasing consultant job. Your letter should touch on the top leasing agent responsibilities. It should show why you are the best candidate for the job. Here is a sample of the leasing consultant cover letter.

Dear Mr. Smith,

I am excited to forward my application for the position of apt leasing job with ABC property management. I am trustworthy and dependable and have worked in this industry for five years.

I have consistently achieved the goals of my leasing consultant job. As a licensed leasing consultant and long-term resident of Dallas, I have a unique understanding of the local market. I assess the need of prospective tenants while showing property. I use my negotiation skills while closing a lease agreement.

Thank you for taking the time to review my cover letter and apartment leasing consultant resume. I look forward to hearing from you.

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Leasing agents salary

The average annual leasing agent’s salary is 31523 or 16.17/hour. Entry-level apartment jobs start at 27,300 a year and experience apartment leasing agent jobs can go up to 70,000/year. The salary of leasing agents near me depends on several factors such as experience and location. Top companies for apartment leasing consultant jobs are,

Hirschbach Motor Lines $30/hour
Blanton Turner $18.79/hour
The Liberty Group $18.48/hour
Coast Property Management $18.44/hour
Pinnacle property management service $18.20/hour

Some of the best paying cities are,

Leasing consultant job in Illinois $104,000/year
Leasing consultant jobs in New York $90,000/year
Leasing consultant jobs in South Carolina $68,250/year
Leasing consultant jobs in DC is $33,263/year
Leasing consultant jobs charlotte, NC is $27,043/year

Shubha Roy

Stock Consultant | How to become a stock consultant and list of top 10 success assured career options

Businesses

Are you an expert in the stock market? Then, learn how to become a successful stock consultant and build an acing career. Read on!

Stock Consultant

A stock consultant is an exciting profession. If you want to become a stock consultant, you need to be a strategic thinker and communicate well. Traditionally, stockbrokers traded on behalf of their investors. With internet trading, the need for stock consultants reduced. They focus on investment strategies for their clients.

What is stock consulting?

A stock consultant buys and trades financial securities on behalf of their clients. They give financial advice to their clients. They make financial plans for their client to help achieve their financial goals. You can think of stock consultants as investment consultants. They provide advice about public offerings, mergers, and acquisitions.

Stock advisors track clients’ investments and change their strategies as the markets or client’s financial requirements change. Stock consultants can have varied work experiences. They may work in banks, financial firms, or run their own business. Most of them have a financial degree and have experience in the financial industry. Their clients can include individuals or businesses (small businesses or corporate).

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Stock advisor job description

Stock advisor recommends investment within the stock market. Stock advisors analyze the stock market, find lucrative stocks, and make stocks recommendations. A stock advisor needs to be able to work in a high-pressure environment. You need to have an innate understanding of financial markets and economics.

You need the ability to make quick decisions. As a top-performing stock advisor, you should be able to find new clients. Maintain good working relationships with existing relations. You need to be analytical and driven. A good stock advisor has initiative and is self-motivated. Job description of stock advisor are,

Give accurate investment advice to clients
Research financial markets to find new investment opportunities.
Understand your client’s financial goals and risk coverage.
Assess financial reports.
Handle your client’s investment portfolios efficiently.
Stay updated about financial news, stocks, taxation, global news, and market regulations.
Update your client periodically, about the condition of their investment portfolio.
Notify your clients about the latest investment opportunities in the stock market.
Get new clients through your networks or cold calling
Modify investment strategies on present market conditions.
Use your market knowledge to improve investment returns.

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Top 5 stock advisor career options for you

A stock advisor can be an independent person or company that conducts financial transactions on behalf of its clients. Today, they deal in different financial instruments like stock, forex, real estate, and insurance. They charge a commission for every transaction. The services offered by them depend on the type of stock advisor.

1. Forex stock research

A forex stock researcher buys and sells currencies on behalf of their clients. They have the advantage of having 24-hour market access. They speculate about currencies around the world. They need to be aware of global activities and their impact on the currency market. They buy or sell in pairs of currencies. Forex stock researchers charge fees and a spread to their clients for the service.

2. Stock picking service provider

Stock picking service provider sells and buys shares. Individual investors cannot buy or sell shares from the stock market. They hire stock consultants to buy and sell securities and stock on behalf of their clients. They study the financial reports of companies. They stay abreast of the latest financial news.

3. Full-service stock advisors

Full-service stock advisors offer many financial services to their clients. Some of the services offered are retirement and investment planning, portfolio management, tax advice, and wealth management service. They manage the portfolio for clients who do not have time to do their financial planning. Full-service stock advisors are the service point in a full-service brokerage firm. They operate on higher commission.

4. NASDAQ stock consultant

NASDAQ is a global place for buying and selling securities. It was the world’s first electronic exchange. There is no physical trading floor, and all trading takes place through a network of computers. NASDAQ stock consultants can operate from around the world. It is a dealers market, and investors cannot trade independently.

5. Discount stock market consultant

Discount stock market consultant buys and sells securities for their clients. They work at a lower commission than a full-service stock trader. They do not offer financial advice or perform analyses on behalf of their clients. They have made it possible for an individual with smaller capital to trade. Most discount stock market consultants operate on online platforms.

Also Read: Business Strategy Consultant | A complete guide

6. Stockbroker consultant

A stockbroker consultant is someone that trades shares on behalf of their clients. They must work in the client’s best interest to achieve the best results. They need a license to work as a stockbroker consultant. They do not provide investment advice or portfolio management. There are online platforms that allow clients to buy and sell shares. They usually earn commission per transaction.

7. Stock trading consultant

A stock trading consultant gives detailed information about the stock market. They help to decode different aspects of trading in the market and market movement. Stock trading consultants are experts. They can give sector-wise analysis and inform their client on specific stocks. They speculate on the future of the market. They help their clients select the most profitable stocks.

8. Stock investment consultant

Stock investment consultant works to provide the best investment advice. They help their clients identify their financial goals and help plan investment strategies. They select stock and financial products best suited to their client’s needs. Stock investment consultant provides their clients with monthly or annual reports, about the status of their investments. They adjust their client investments based on markets and client’s requirements.

9. Stock consultant NASDAQ

The NASDAQ or the National Association of Securities Dealers Automated Quotations is the second-largest securities exchange in the world. Trading takes place electronically. Stock consultant NASDAQ deals in tech stocks. They help smooth flow in financial markets by helping investors and traders to buy and sell. Stock consultants NASDAQ ensure enough transaction at NASDAQ and investment activity.

10. Stock plan consultant

Stock plan consultant uses their financial expertise to execute their client’s equity program. They keep themselves about the latest financial practice, trends, and programs. They manage all aspects of equity compensation plans. Stock plan consultant maintains accurate records about client’s equity-related data. They guide their clients and answer questions about their accounts and equity compensation.

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How to become a stock consultant?

Stock consultants are adept at working with financial information. You need to work hard and be patient to become a successful stock market consultant. The outlook for a stock consultant is promising, people need a stock investment consultant to invest on their behalf. Stock consultants offer a range of services from investment advice to portfolio management.

1. Is stock advisor worth it?

You may be wondering if a stock advisor is worth it a career. Yes, according to the Bureau of Labor Statistics, stockbroker career growth should grow at 16% from 2018 to 2028. You must be a graduate to become a stock advisor. A degree in accounting, business, economics, or finance will be helpful.

2. Complete internship as a stock consultant

Most financial and accounting degrees will need you to complete your internship. Some internships offer a salary while others count only for school credit. Stock consultant internships offer real-world experience and apply academic practices. Your internships can lead to employment after you graduate. It helps to build your portfolio and enhance your resume.

3. Get your license stock advisors

Before you become a stock consultant, you need to get your license according to your state laws. Most states and firms must stock advisors to pass FINRA exams. A FINRA-regulated firm sponsors your exams. Your firm may help you prepare for the series 7 and series 63 exams, which cover trading securities and state rules laws. You need to continue computer-based training in new financial products and services.

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Stock advisor certifications

If you want to become a stock advisor, financial certifications will improve your credibility. Some of the top certifications for stock advisor are,

CFA: Certified Financial Analyst – Certified Financial Analyst is adept at handling high-level research and analysis. The intensive certification requires 1000 hours of study.
CFP: Certified Financial Planner is a holistic certification for financial planning.
CHFC – Experts consider a Certified Financial Consultant to be a more comprehensive certification than CFA. There 8 courses in the course and candidates must clear an exam after each course.
RIA – Registered Investment Advisor refers to a company. Securities and Exchange Commission registers all RIA.
IAR – FINRA registers IAR or Investment Advisor representative. IAR work for RIA or stockbrokers.

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Stock market consultant salary

The average annual salary of a stock market consultant is $91,745 that roughly translates to $44.11/hour. Salaries depend on several factors like location and experience. Stock market consultant salaries can start at $51,000 a year and can go up to $110,000. Some firms offer a bonus based on the growth of stocks or client portfolios. Top companies for stock market consultants are,

AllianceBernstein $173,241
J.D. Mellberg Financial $160,850
Legacy $158,684
Strategic Wealth Designers $130,429

The highest paying cities for stockbroker consultants are,

New York, NY $127,841
Seattle, WA $113,491
Washington, DC $107,185
Menlo Park, CA $97,174
Boston, MA $96,715
Arlington, VA $94,234

Shubha Roy