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The differences between associate partners and principals can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both an associate partner and a principal. Additionally, an associate partner has an average salary of $145,385, which is higher than the $111,719 average annual salary of a principal.
The top three skills for an associate partner include digital transformation, analytics and cloud. The most important skills for a principal are CRM, project management, and financial services.
| Associate Partner | Principal | |
| Yearly salary | $145,385 | $111,719 |
| Hourly rate | $69.90 | $53.71 |
| Growth rate | 10% | 5% |
| Number of jobs | 32,405 | 84,015 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 63% |
| Average age | 46 | 47 |
| Years of experience | 4 | 4 |
The job of an associate partner is similar to that of a partner. An associate partner will report to the partner and work to build strong client relationships and understand their concerns. You will typically perform various duties that include handling the partner's daily activities, monitoring the accounting procedures, and maintaining the confidentiality of the client's information. As an associate partner, you also have to advise on corporate governance and business reorganization and conducting assessments of in-house platforms that include evaluating portfolio accounting systems and client delivery.
A principal is responsible for maintaining the orderliness of the school premises and supervising school operations, enforcing strict safety standards, and reiterating regulatory procedures. Principals' duties also include managing and monitoring school budget and expenses, improving security plans, conducting regular meetings and sharing updates with teachers and other school personnel, creating reports for school funding, and setting academic goals for everyone's compliance. A principal must administer excellent leadership, communication, and decision-making skills to handle major administrative tasks in maintaining the school's growth.
Associate partners and principals have different pay scales, as shown below.
| Associate Partner | Principal | |
| Average salary | $145,385 | $111,719 |
| Salary range | Between $84,000 And $250,000 | Between $69,000 And $179,000 |
| Highest paying City | Cambridge, MA | New York, NY |
| Highest paying state | Massachusetts | New York |
| Best paying company | McKinsey & Company Inc | KKR & Co. L.P. |
| Best paying industry | Professional | Professional |
There are a few differences between an associate partner and a principal in terms of educational background:
| Associate Partner | Principal | |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 63% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between associate partners' and principals' demographics:
| Associate Partner | Principal | |
| Average age | 46 | 47 |
| Gender ratio | Male, 66.4% Female, 33.6% | Male, 65.6% Female, 34.4% |
| Race ratio | Black or African American, 5.6% Unknown, 4.4% Hispanic or Latino, 7.8% Asian, 6.4% White, 75.6% American Indian and Alaska Native, 0.3% | Black or African American, 10.9% Unknown, 4.0% Hispanic or Latino, 14.0% Asian, 4.3% White, 66.0% American Indian and Alaska Native, 0.7% |
| LGBT Percentage | 10% | 16% |