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The differences between owners and principals can be seen in a few details. Each job has different responsibilities and duties. While it typically takes More than 10 years to become an owner, becoming a principal takes usually requires 2-4 years. Additionally, a principal has an average salary of $111,719, which is higher than the $90,334 average annual salary of an owner.
The top three skills for an owner include customer service, payroll and financial statements. The most important skills for a principal are CRM, project management, and financial services.
| Owner | Principal | |
| Yearly salary | $90,334 | $111,719 |
| Hourly rate | $43.43 | $53.71 |
| Growth rate | 6% | 5% |
| Number of jobs | 86,486 | 84,015 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 52% | Bachelor's Degree, 63% |
| Average age | 52 | 47 |
| Years of experience | - | 4 |
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.
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.
Owners and principals have different pay scales, as shown below.
| Owner | Principal | |
| Average salary | $90,334 | $111,719 |
| Salary range | Between $60,000 And $135,000 | Between $69,000 And $179,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New Jersey | New York |
| Best paying company | BP America Inc | KKR & Co. L.P. |
| Best paying industry | - | Professional |
There are a few differences between an owner and a principal in terms of educational background:
| Owner | Principal | |
| Most common degree | Bachelor's Degree, 52% | Bachelor's Degree, 63% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between owners' and principals' demographics:
| Owner | Principal | |
| Average age | 52 | 47 |
| Gender ratio | Male, 63.1% Female, 36.9% | Male, 65.6% Female, 34.4% |
| Race ratio | 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% | 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 | 12% | 16% |