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The differences between business partners and owners can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 8-10 years to become a business partner, becoming an owner takes usually requires More than 10 years. Additionally, a business partner has an average salary of $96,324, which is higher than the $90,334 average annual salary of an owner.
The top three skills for a business partner include analytics, project management and customer service. The most important skills for an owner are customer service, payroll, and financial statements.
| Business Partner | Owner | |
| Yearly salary | $96,324 | $90,334 |
| Hourly rate | $46.31 | $43.43 |
| Growth rate | 10% | 6% |
| Number of jobs | 106,251 | 86,486 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 52% |
| Average age | 39 | 52 |
| Years of experience | 10 | - |
A business partner is an individual who is involved in a legal business partnership with other individuals to manage a business as co-owners. Business partners invest their money into the business, and each partner benefits from any profits and sustains part of any losses. They must file with the state in which they do business and are governed mostly by state laws. Business partners can also be either liable or not for the actions taken by the company.
Owners, in the most basic sense, own the business, company, or organization. They are responsible for building the business. They create business plans and the general vision and mission of the company, set goals, work on these goals, and ensure that the business keeps running. They manage all aspects of their business, from finances to marketing to people, etc. When the business becomes stable, owners eventually hire more employees. As such, owners also become overseers who would ensure that the organization remains afloat.
Business partners and owners have different pay scales, as shown below.
| Business Partner | Owner | |
| Average salary | $96,324 | $90,334 |
| Salary range | Between $66,000 And $140,000 | Between $60,000 And $135,000 |
| Highest paying City | San Francisco, CA | New York, NY |
| Highest paying state | Washington | New Jersey |
| Best paying company | ZS | BP America Inc |
| Best paying industry | Technology | - |
There are a few differences between a business partner and an owner in terms of educational background:
| Business Partner | Owner | |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 52% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Pennsylvania |
Here are the differences between business partners' and owners' demographics:
| Business Partner | Owner | |
| Average age | 39 | 52 |
| Gender ratio | Male, 56.2% Female, 43.8% | Male, 63.1% Female, 36.9% |
| Race ratio | Black or African American, 3.0% Unknown, 5.3% Hispanic or Latino, 8.7% Asian, 8.2% White, 74.6% American Indian and Alaska Native, 0.2% | Black or African American, 3.7% Unknown, 3.9% Hispanic or Latino, 7.6% Asian, 7.5% White, 76.7% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 10% | 12% |