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The differences between business 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 manager and a business owner. Additionally, a business manager has an average salary of $83,198, which is higher than the $50,934 average annual salary of a business owner.
The top three skills for a business manager include customer service, powerpoint and project management. The most important skills for a business owner are customer service, payroll, and financial statements.
| Business Manager | Business Owner | |
| Yearly salary | $83,198 | $50,934 |
| Hourly rate | $40.00 | $24.49 |
| Growth rate | 6% | 6% |
| Number of jobs | 377,191 | 107,663 |
| Job satisfaction | 5 | - |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 52% |
| Average age | 44 | 44 |
| Years of experience | 6 | 6 |
A business manager is responsible for directing the overall operations of the company, ensuring that all employees do their tasks efficiently and accurately. Business managers' duties include developing strategic solutions, evaluating employees' performance, identifying business opportunities to grow, monitoring the company's expenses to meet its budget goals, implementing techniques to boost the company's revenue and profitability, and adhering to the company's legal policies and procedures. A business manager must have excellent leadership and interpersonal skills to supervise daily operations.
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 managers and business owners have different pay scales, as shown below.
| Business Manager | Business Owner | |
| Average salary | $83,198 | $50,934 |
| Salary range | Between $47,000 And $145,000 | Between $27,000 And $94,000 |
| Highest paying City | Seattle, WA | Seattle, WA |
| Highest paying state | Washington | Washington |
| Best paying company | The Citadel | BD |
| Best paying industry | Technology | Retail |
There are a few differences between a business manager and a business owner in terms of educational background:
| Business Manager | Business Owner | |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 52% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between business managers' and business owners' demographics:
| Business Manager | Business Owner | |
| Average age | 44 | 44 |
| Gender ratio | Male, 43.2% Female, 56.8% | 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, 67.2% 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% |