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The differences between business executives and business owners can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a business executive and a business owner. Additionally, a business executive has an average salary of $63,101, which is higher than the $50,934 average annual salary of a business owner.
The top three skills for a business executive include customer service, customer satisfaction and revenue growth. The most important skills for a business owner are customer service, payroll, and financial statements.
| Business Executive | Business Owner | |
| Yearly salary | $63,101 | $50,934 |
| Hourly rate | $30.34 | $24.49 |
| Growth rate | 6% | 6% |
| Number of jobs | 138,097 | 107,663 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 52% |
| Average age | 44 | 44 |
| Years of experience | 6 | 6 |
The duties of a business executive depend upon their position and industry of employment. In general, they are in charge of spearheading and overseeing business operations to ensure that everything runs smoothly and efficiently. They typically have the power to make corporate decisions, set goals and budgets, establish guidelines and timelines, negotiate with potential business partners, and develop business strategies to optimize overall operations. Moreover, a business executive implements and promotes company policies and regulations, creating new ones as needed.
Business owners, also known as Entrepreneurs, are responsible for their company and brand's success. There are many areas of responsibility when you're a business owner, such as in the aspects of planning and budgeting, arranging finances and legal documentation, and even hiring the workforce essential for the business to grow. However, these responsibilities will vary according to how a business owner will uphold them. Moreover, building a business from the ground up requires dedication and a vision and mission for the brand.
Business executives and business owners have different pay scales, as shown below.
| Business Executive | Business Owner | |
| Average salary | $63,101 | $50,934 |
| Salary range | Between $29,000 And $135,000 | Between $27,000 And $94,000 |
| Highest paying City | Albany, NY | Seattle, WA |
| Highest paying state | New York | Washington |
| Best paying company | The Walt Disney Company | BD |
| Best paying industry | - | Retail |
There are a few differences between a business executive and a business owner in terms of educational background:
| Business Executive | Business Owner | |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 52% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between business executives' and business owners' demographics:
| Business Executive | Business Owner | |
| Average age | 44 | 44 |
| Gender ratio | Male, 59.9% Female, 40.1% | Male, 51.4% Female, 48.6% |
| Race ratio | Black or African American, 6.1% Unknown, 4.3% Hispanic or Latino, 15.0% Asian, 6.3% White, 67.8% American Indian and Alaska Native, 0.5% | Black or African American, 6.3% Unknown, 4.3% Hispanic or Latino, 15.5% Asian, 6.4% White, 67.0% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 10% | 10% |