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The differences between business general managers 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 general manager and a business owner. Additionally, a business general manager has an average salary of $72,676, which is higher than the $50,934 average annual salary of a business owner.
The top three skills for a business general manager include general business, CRM and human resources. The most important skills for a business owner are customer service, payroll, and financial statements.
| Business General Manager | Business Owner | |
| Yearly salary | $72,676 | $50,934 |
| Hourly rate | $34.94 | $24.49 |
| Growth rate | 6% | 6% |
| Number of jobs | 411,126 | 107,663 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 52% |
| Average age | 44 | 44 |
| Years of experience | 6 | 6 |
A business general manager oversees the daily operations in a business establishment or office. They are typically in charge of setting goals and objectives, establishing guidelines and schedules, assessing the performance of the workforce, coordinating departments, and developing strategies to optimize business procedures. They may also perform clerical tasks such as producing progress reports, answering calls and correspondence, and preparing documents and presentations. Furthermore, as a general manager, it is essential to lead and encourage the workforce to reach goals and sales targets, all while implementing the company's policies and regulations.
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 general managers and business owners have different pay scales, as shown below.
| Business General Manager | Business Owner | |
| Average salary | $72,676 | $50,934 |
| Salary range | Between $46,000 And $112,000 | Between $27,000 And $94,000 |
| Highest paying City | Hoboken, NJ | Seattle, WA |
| Highest paying state | New Jersey | Washington |
| Best paying company | BlackRock | BD |
| Best paying industry | Finance | Retail |
There are a few differences between a business general manager and a business owner in terms of educational background:
| Business General Manager | Business Owner | |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 52% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between business general managers' and business owners' demographics:
| Business General Manager | Business Owner | |
| Average age | 44 | 44 |
| Gender ratio | Male, 71.9% Female, 28.1% | Male, 51.4% Female, 48.6% |
| Race ratio | Black or African American, 6.2% Unknown, 4.3% Hispanic or Latino, 15.3% Asian, 6.4% White, 67.3% 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% |