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The differences between business owners and chief executive officers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a business owner, becoming a chief executive officer takes usually requires More than 10 years. Additionally, a chief executive officer has an average salary of $192,260, 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 chief executive officer are healthcare, patients, and patient care.
| Business Owner | Chief Executive Officer | |
| Yearly salary | $50,934 | $192,260 |
| Hourly rate | $24.49 | $92.43 |
| Growth rate | 6% | 6% |
| Number of jobs | 107,663 | 149,185 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 52% | Bachelor's Degree, 59% |
| Average age | 44 | 52 |
| Years of experience | 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.
A chief executive officer is the overall head of the company's operations. Chief executive officers are responsible for making corporate decisions that would define the company's performance in the market. A chief executive officer must display exceptional leadership and decision-making skills to create business growth and development strategies. The chief executive officers also provide a regular business update to the board regarding the company's status. They should also be able to identify business opportunities and create long-lasting, professional relationships with business partners and other organizations.
Business owners and chief executive officers have different pay scales, as shown below.
| Business Owner | Chief Executive Officer | |
| Average salary | $50,934 | $192,260 |
| Salary range | Between $27,000 And $94,000 | Between $104,000 And $354,000 |
| Highest paying City | Seattle, WA | Urban Honolulu, HI |
| Highest paying state | Washington | Hawaii |
| Best paying company | BD | Alecto Healthcare Services LLC |
| Best paying industry | Retail | Start-up |
There are a few differences between a business owner and a chief executive officer in terms of educational background:
| Business Owner | Chief Executive Officer | |
| Most common degree | Bachelor's Degree, 52% | Bachelor's Degree, 59% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between business owners' and chief executive officers' demographics:
| Business Owner | Chief Executive Officer | |
| Average age | 44 | 52 |
| Gender ratio | Male, 51.4% Female, 48.6% | Male, 68.5% Female, 31.5% |
| 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, 3.8% Unknown, 3.9% Hispanic or Latino, 7.9% Asian, 7.8% White, 76.0% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 10% | 12% |