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The differences between business strategy 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 $115,742 average annual salary of a business strategy consultant.
The top three skills for a business strategy consultant include cloud, business cases and project management. The most important skills for a principal consultant are cloud, business development, and C #.
| Business Strategy Consultant | Principal Consultant | |
| Yearly salary | $115,742 | $116,478 |
| Hourly rate | $55.65 | $56.00 |
| Growth rate | 11% | 11% |
| Number of jobs | 123,920 | 143,753 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 68% |
| Average age | 44 | 44 |
| Years of experience | 4 | - |
A business strategy consultant specializes in developing strategies to help a company achieve its short and long-term goals. Their responsibilities typically include understanding the needs of the company, performing research and analysis to identify new business opportunities, gathering and analyzing data to determine the strengths and weaknesses of current operations, studying the competitors, and preparing detailed analysis reports and presentations for clients. It is also their duty to monitor the progress of implemented strategies, conducting corrective measures when needed. Furthermore, a business strategy consultant must adhere to the company's policies and regulations, including its vision and mission.
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 strategy consultants and principal consultants have different pay scales, as shown below.
| Business Strategy Consultant | Principal Consultant | |
| Average salary | $115,742 | $116,478 |
| Salary range | Between $79,000 And $169,000 | Between $90,000 And $150,000 |
| Highest paying City | Dallas, TX | San Francisco, CA |
| Highest paying state | Texas | Oregon |
| Best paying company | Pure Storage | |
| Best paying industry | Utilities | Finance |
There are a few differences between a business strategy consultant and a principal consultant in terms of educational background:
| Business Strategy Consultant | Principal Consultant | |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 68% |
| Most common major | Business | Business |
| Most common college | Northwestern University | Western Carolina University |
Here are the differences between business strategy consultants' and principal consultants' demographics:
| Business Strategy Consultant | Principal Consultant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 65.3% Female, 34.7% | Male, 75.8% Female, 24.2% |
| Race ratio | Black or African American, 7.6% Unknown, 4.5% Hispanic or Latino, 8.5% Asian, 14.6% White, 64.7% 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% |