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Management Consultant Vs Principal Consultant

The differences between management 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 $99,360 average annual salary of a management consultant.

The top three skills for a management consultant include healthcare, project management and portfolio. The most important skills for a principal consultant are cloud, business development, and C #.

Management consultant vs principal consultant overview

Management ConsultantPrincipal Consultant
Yearly Salary$99,360$116,478
Hourly rate$47.77$56.00
Growth Rate11%11%
Number Of Jobs153,045143,753
Job Satisfaction--
Most Common DegreeBachelor's Degree, 67%Bachelor's Degree, 68%
Average Age4444
Years Of Experience4-

What does a Management Consultant do?

A management consultant's responsibility focuses on conducting an in-depth analysis of a company or business, including its target market. Through their findings, they can devise strategies that will help the business grow and attain a significant profit. There are also instances when a management consultant must solve particular issues that will require them to investigate the problem, assess damages, identify risks, and recommend the best solutions to take. Furthermore, a management consultant must adhere to the company's vision, mission, and policies at all times.

What does a principal consultant do?

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.

Management consultant vs principal consultant salary

Management consultants and principal consultants have different pay scales, as shown below.

Management ConsultantPrincipal Consultant
Average Salary$99,360$116,478
Salary RangeBetween $72,000 And $136,000Between $90,000 And $150,000
Highest Paying CityJersey City, NJSan Francisco, CA
Highest Paying StateNew JerseyOregon
Best Paying CompanyApplePure Storage
Best Paying IndustryTechnologyFinance

Differences between management consultant and principal consultant education

There are a few differences between a management consultant and a principal consultant in terms of educational background:

Management ConsultantPrincipal Consultant
Most Common DegreeBachelor's Degree, 67%Bachelor's Degree, 68%
Most Common MajorBusinessBusiness
Most Common CollegeNorthwestern UniversityWestern Carolina University

Management consultant vs principal consultant demographics

Here are the differences between management consultants' and principal consultants' demographics:

Management ConsultantPrincipal Consultant
Average Age4444
Gender RatioMale, 65.9% Female, 34.1%Male, 75.8% Female, 24.2%
Race RatioBlack or African American, 8.1% Unknown, 4.5% Hispanic or Latino, 8.9% Asian, 13.6% White, 64.8% 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 Percentage12%11%

Differences between management consultant and principal consultant duties and responsibilities

Management Consultant Example Responsibilities.

  • Streamline and program manage operations for end-to-end creation of all assets using Smartsheet.
  • Lead daily agile scrum meetings towards the end of the development phase of the project.
  • Monitor and control project schedule for SaaS product to achieve project deliveries in at least 95th percentile.
  • Lead teams in implementation of value map streaming, ISO 9000 and waste reduction in manufacturing process.
  • Manage functional design team activities using baseline scope document information and develop process standards in line with SDLC methodologies.
  • Develop light-weight (fast) proprietary cloud-base licensing engine and UI to manage and track end user subscription licenses.
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Principal Consultant Example Responsibilities.

  • Manage project risks and issues throughout the SDLC phases, report project/program statuses to steering committee along with financial information.
  • Provide PMO office support including improving governance processes to achieve expect results.
  • Manage numerous engagements that are either custom development or package software (ERP) implementations and integration.
  • Project leadership, strategy and health information management consulting services to healthcare and manage care organizations and health information technology companies.
  • Design database and business objects using XML schema.
  • Create XMLType view to generate xml output from a SQL query.
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Management consultant vs principal consultant skills

Common Management Consultant Skills
  • Healthcare, 9%
  • Project Management, 7%
  • Portfolio, 6%
  • Business Process, 5%
  • Business Strategy, 5%
  • Business Development, 4%
Common Principal Consultant Skills
  • Cloud, 11%
  • Business Development, 10%
  • C #, 7%
  • Customer Satisfaction, 6%
  • Java, 5%
  • Project Management, 4%

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