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The differences between business management consultants and principal consultants can be seen in a few details. Each job has different responsibilities and duties. Additionally, a principal consultant has an average salary of $116,478, which is higher than the $107,407 average annual salary of a business management consultant.
The top three skills for a business management consultant include project management, client facing and healthcare. The most important skills for a principal consultant are cloud, business development, and C #.
| Business Management Consultant | Principal Consultant | |
| Yearly salary | $107,407 | $116,478 |
| Hourly rate | $51.64 | $56.00 |
| Growth rate | 11% | 11% |
| Number of jobs | 171,313 | 143,753 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 68% |
| Average age | 44 | 44 |
| Years of experience | 4 | - |
A business management consultant develops and recommends strategies to optimize the daily operations of businesses. They typically perform extensive research and analysis to identify new business and client opportunities, find ways to enhance resources, gather and analyze data, determine the strengths and weaknesses of current operations, and develop solutions against problem areas. They may also perform risk assessments and audits, assess the workforce performance, and evaluate the existing policies and regulations of the company, suggesting new ones as necessary.
A principal consultant is responsible for evaluating business' needs and opportunities, identifying potential leads to create project proposals, and maintaining strong business relationships that would generate revenues and increase the organization's profitability. Principal consultants must be up-to-date with the current market trends to ensure that the business adapts to the industry's changes. They also initiate new product development to expand its brand image, working closely with the marketing team for marketing strategies and promotions.
Business management consultants and principal consultants have different pay scales, as shown below.
| Business Management Consultant | Principal Consultant | |
| Average salary | $107,407 | $116,478 |
| Salary range | Between $80,000 And $143,000 | Between $90,000 And $150,000 |
| Highest paying City | Washington, DC | San Francisco, CA |
| Highest paying state | Colorado | Oregon |
| Best paying company | Applied Materials | Pure Storage |
| Best paying industry | Internet | Finance |
There are a few differences between a business management consultant and a principal consultant in terms of educational background:
| Business Management Consultant | Principal Consultant | |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 68% |
| Most common major | Business | Business |
| Most common college | Northwestern University | Western Carolina University |
Here are the differences between business management consultants' and principal consultants' demographics:
| Business Management Consultant | Principal Consultant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 63.6% Female, 36.4% | Male, 75.8% Female, 24.2% |
| Race ratio | Black or African American, 8.3% Unknown, 4.5% Hispanic or Latino, 9.1% Asian, 12.0% White, 65.9% American Indian and Alaska Native, 0.2% | Black or African American, 6.4% Unknown, 4.6% Hispanic or Latino, 9.4% Asian, 8.8% White, 70.4% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 12% | 11% |