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The differences between principal analysts and functional analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a principal analyst and a functional analyst. Additionally, a principal analyst has an average salary of $114,156, which is higher than the $96,841 average annual salary of a functional analyst.
The top three skills for a principal analyst include portfolio, ERP and project management. The most important skills for a functional analyst are business process, lifecycle management, and HR.
| Principal Analyst | Functional Analyst | |
| Yearly salary | $114,156 | $96,841 |
| Hourly rate | $54.88 | $46.56 |
| Growth rate | 9% | 9% |
| Number of jobs | 158,160 | 52,085 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 66% |
| Average age | 43 | 43 |
| Years of experience | 6 | 6 |
A principal analyst is responsible for evaluating the project management and product development procedures of an organization by analyzing data statistics and market trends. Principal analysts conduct operational audits to identify inconsistencies and defects, including the networks and system database. They create reports on their findings, as well as recommendations to improve optimization and maximum productivity. A principal analyst should be highly communicative and analytical as they also analyze sales reports and financial transactions to develop techniques for increasing profits and revenues.
Functional analysts are professionals specializing in a specific line of business, technology, and industry. They collect information by interviewing managers and employees and studying the company's systems and procedures. They design computer systems that meet business requirements and prepare reports for the managers. Additional duties for this role include installing and configuring new systems, running tests to ensure that specifications are met, and writing user manuals. Functional analysts are also responsible for conducting training on new capabilities to existing end-users.
Principal analysts and functional analysts have different pay scales, as shown below.
| Principal Analyst | Functional Analyst | |
| Average salary | $114,156 | $96,841 |
| Salary range | Between $87,000 And $149,000 | Between $71,000 And $131,000 |
| Highest paying City | San Francisco, CA | Mountain View, CA |
| Highest paying state | Washington | New Mexico |
| Best paying company | Apple | |
| Best paying industry | Pharmaceutical | Retail |
There are a few differences between a principal analyst and a functional analyst in terms of educational background:
| Principal Analyst | Functional Analyst | |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | Stanford University | Stanford University |
Here are the differences between principal analysts' and functional analysts' demographics:
| Principal Analyst | Functional Analyst | |
| Average age | 43 | 43 |
| Gender ratio | Male, 75.6% Female, 24.4% | Male, 55.9% Female, 44.1% |
| Race ratio | Black or African American, 10.6% Unknown, 5.0% Hispanic or Latino, 11.3% Asian, 14.4% White, 58.5% American Indian and Alaska Native, 0.2% | Black or African American, 10.0% Unknown, 5.0% Hispanic or Latino, 10.8% Asian, 19.5% White, 54.5% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 8% | 8% |