How much do self-employed consultants make?

Census code 5416, "Management, Scientific, and Technical Consulting Services", covers management, HR, marketing strategy, environmental and other technical consultants.

In 2024, 1,187,781 US businesses with no paid employees were classified under this code. Between them they reported $71.7 billion in revenue, an average of $60,339 per firm, 4% above the $58,194 average for all businesses with no employees.

What stands out

The official count shows 59.1% of consulting businesses with no employees under $25,000 in revenue, about the same as all nonemployers (60.4%), and 14.1% at $100,000 or more.

The IRS row is a close match and shows the highest ratio of any trade here: see the section on what is left after costs. 91.6% are sole proprietors; firms set up as partnerships or corporations averaged $177,249, against $49,611 for sole proprietors.

The District of Columbia holds 2.9 times its national share of these firms, the highest concentration in this trade. Utah holds 1.4 and Massachusetts 1.4.

What a typical firm brings in

The average hides a wide spread. 37.7% of firms reported under $10,000 (all industries: 37.3%), 59.1% under $25,000 (all: 60.4%) and 73.7% under $50,000. 14.1% reached $100,000 or more (all: 13.3%). The middle firm falls in the "$10,000 to $24,999" bracket.

How much is left after costs

The IRS publishes tax-return totals for sole proprietors by industry. For "Management, scientific, and technical consulting services", which matches this trade's Census code, sole proprietors reported $67.1 billion in business receipts in tax year 2023. After netting losses against profits, they reported $33.7 billion in net business income: 50.2 cents for every dollar of receipts, or $30,371 per return, before personal income tax. 33% of returns showed no positive net income. This is an industry ratio for 2023 sole proprietorship returns, including businesses with paid employees. It is before personal income tax and is not a typical owner's margin; the Census figures above cover 2024 businesses with no paid employees.

How it varies by state

California has the most firms, at 153,608. Among the 51 states (including DC) with at least 500 firms, revenue per firm is highest in Wyoming ($130,948) and lowest in Nebraska ($37,963). The Census assigns each business to a state by its mailing address, which may not be where the work is done. These data do not explain state differences or show take-home pay.

Frequently asked questions

How much do self-employed consultants make?

Census data for 2024 show 1,187,781 US businesses with no paid employees in this trade, reporting an average of $60,339 in revenue each. 59.1% took in under $25,000, against 60.4% of all businesses with no employees. Revenue is what the business takes in before costs, so it is not the owner's income.

Which state has the highest revenue per firm for self-employed consultants?

Among the 51 states (including DC) with at least 500 firms, Wyoming had the highest average revenue per firm, at $130,948, and Nebraska the lowest, at $37,963. States are assigned by business mailing address, and these figures do not show take-home pay.

Sources and method

• Firms, receipts, legal form and receipts size: U.S. Census Bureau, Nonemployer Statistics, reference year 2024, released September 2026, NAICS 5416 (methodology). Revenue per firm is total receipts divided by the number of firms. Revenue for partnerships and corporations is total receipts less sole proprietor receipts, divided by the number of those firms. State concentration compares each state's share of this trade's firms with its share of all businesses with no employees.
• Net business income per dollar: IRS, Statistics of Income, Nonfarm Sole Proprietorship Statistics, tax year 2023, Table 1, "Management, scientific, and technical consulting services". Net income less deficit divided by business receipts.
• Data are in the public domain. Minted Empire is not endorsed or certified by the Census Bureau or the IRS.