Managing partner vs principal

The differences between managing partners and principals can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a managing partner, becoming a principal takes usually requires 2-4 years. Additionally, a managing partner has an average salary of $147,401, which is higher than the $111,719 average annual salary of a principal.

The top three skills for a managing partner include food handling, cleanliness and customer service. The most important skills for a principal are CRM, project management, and financial services.

Managing partner vs principal overview

	Managing Partner	Principal
Yearly salary	$147,401	$111,719
Hourly rate	$70.87	$53.71
Growth rate	6%	5%
Number of jobs	66,916	84,015
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 67%	Bachelor's Degree, 63%
Average age	44	47
Years of experience	6	4

What does a managing partner do?

The primary role of managing partners is to manage a company's day-to-day operations and provide overall strategic and administrative decisions. They have to maintain positive client relations and consult and collaborate with other employees, executives, and board members. They are also responsible for overseeing recruitment activities, determining improvement gaps, and administering corrective measures. To be qualified for this position, one should have a degree in business administration or a related field, excellent leadership and communication skills, and a healthy analytical and strategic mindset.

What does a principal do?

A principal is responsible for maintaining the orderliness of the school premises and supervising school operations, enforcing strict safety standards, and reiterating regulatory procedures. Principals' duties also include managing and monitoring school budget and expenses, improving security plans, conducting regular meetings and sharing updates with teachers and other school personnel, creating reports for school funding, and setting academic goals for everyone's compliance. A principal must administer excellent leadership, communication, and decision-making skills to handle major administrative tasks in maintaining the school's growth.

Managing partner vs principal salary

Managing partners and principals have different pay scales, as shown below.

	Managing Partner	Principal
Average salary	$147,401	$111,719
Salary range	Between $83,000 And $259,000	Between $69,000 And $179,000
Highest paying City	New York, NY	New York, NY
Highest paying state	New York	New York
Best paying company	Gartner	KKR & Co. L.P.
Best paying industry	Construction	Professional

Differences between managing partner and principal education

There are a few differences between a managing partner and a principal in terms of educational background:

	Managing Partner	Principal
Most common degree	Bachelor's Degree, 67%	Bachelor's Degree, 63%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Managing partner vs principal demographics

Here are the differences between managing partners' and principals' demographics:

	Managing Partner	Principal
Average age	44	47
Gender ratio	Male, 79.0% Female, 21.0%	Male, 65.6% Female, 34.4%
Race ratio	Black or African American, 6.2% Unknown, 4.3% Hispanic or Latino, 15.4% Asian, 6.4% White, 67.1% American Indian and Alaska Native, 0.5%	Black or African American, 10.9% Unknown, 4.0% Hispanic or Latino, 14.0% Asian, 4.3% White, 66.0% American Indian and Alaska Native, 0.7%
LGBT Percentage	10%	16%

Differences between managing partner and principal duties and responsibilities

Managing partner example responsibilities.

Manage website, eBay, and Facebook marketing, as well as vendor relations and cross-marketing with vendors.
Manage daily operations, including office administration, accounts-payable, accounts-receivable, and payroll processing.
Develop and implement marketing campaigns, and manage a variety self-contain EMR systems for numerous private practice healthcare providers.
Provide oversight to ensure projects and programs within various portfolios are in compliance with establish standards to achieve business transformation objectives.
Perform all business development, sales, marketing, basic web design and SEO; administrative operations and actual event performance.
Create and develop internet presence via website and FaceBook.

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Principal example responsibilities.

Manage all documentation associate with FMLA, ADA, & DOL requests.
Develop schedules, payroll, and manage recruiting, hiring and company standards to ensure customer satisfaction.
Launch, continue to manage, and act as primary portfolio manager and trader for boutique investment consulting firm.
Manage the RFP process for a new medical plan TPA delivering a savings of almost $1MM in fix costs.
Achieve 7-digit annual revenues from start-up in one year by capitalizing on accurate niche market gap and consumer demand identification.
Manage all human resource matters, including payroll and benefits administration.

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Managing partner vs principal skills

Common managing partner skills

Food Handling, 20%
Cleanliness, 18%
Customer Service, 9%
Financial Statements, 5%
Regulatory Compliance, 4%
POS, 4%

Common principal skills

CRM, 7%
Project Management, 7%
Financial Services, 6%
Healthcare, 6%
Professional Services, 5%
ERP, 5%

Managing Partner vs. similar jobs

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Updated January 8, 2025

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