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The differences between business owners and business leaders 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 owner and a business leader. Additionally, a business leader has an average salary of $90,430, which is higher than the $50,934 average annual salary of a business owner.
The top three skills for a business owner include customer service, payroll and financial statements. The most important skills for a business leader are analytics, project management, and customer service.
| Business Owner | Business Leader | |
| Yearly salary | $50,934 | $90,430 |
| Hourly rate | $24.49 | $43.48 |
| Growth rate | 6% | 6% |
| Number of jobs | 107,663 | 117,296 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 52% | Bachelor's Degree, 69% |
| Average age | 44 | 44 |
| Years of experience | 6 | 6 |
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 Leaders are considered trailblazers in their field. They are innovative thinkers who often introduce solutions to their industry's challenges. They inspire people pursuing careers in their field and even those outside the industry to strive harder and create their paths to success. Employees often look up to Business Leaders, which is why they must be motivating. They also oversee their business operations and often set long-term targets and strategies to achieve these targets. They think outside the box to set their business apart from their competitors.
Business owners and business leaders have different pay scales, as shown below.
| Business Owner | Business Leader | |
| Average salary | $50,934 | $90,430 |
| Salary range | Between $27,000 And $94,000 | Between $56,000 And $145,000 |
| Highest paying City | Seattle, WA | New York, NY |
| Highest paying state | Washington | New York |
| Best paying company | BD | Lyft |
| Best paying industry | Retail | Pharmaceutical |
There are a few differences between a business owner and a business leader in terms of educational background:
| Business Owner | Business Leader | |
| Most common degree | Bachelor's Degree, 52% | Bachelor's Degree, 69% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between business owners' and business leaders' demographics:
| Business Owner | Business Leader | |
| Average age | 44 | 44 |
| Gender ratio | Male, 51.4% Female, 48.6% | Male, 64.4% Female, 35.6% |
| Race ratio | 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% | Black or African American, 6.2% Unknown, 4.3% Hispanic or Latino, 15.2% Asian, 6.4% White, 67.4% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 10% | 10% |